Drive Better Recruitment Strategies with Taleo Analytics
Today’s organizations compete for qualified employees in a shrinking labor pool. To grow strategically, they need to make informed recruiting decisions about the kind of candidates they need and where to find them. Finding qualified candidates in a timely and cost-effective manner often requires that one find or create new efficiencies in one’s recruiting process.
Here is an example. A large corporation wants to launch a campaign to fill open leadership positions. However, their past recruitment programs have suffered from a repetitive set of shortcomings:
- They don’t possess an intelligent database capable of evaluating qualified candidates and reliable sourcing options;
- The recruitment team commonly faces cost overruns, but have compiled no data that would help them correct this situation;
- Some positions stay open for long durations, compelling management to re-launch the same campaign every year; each time, they aim to close as many open positions as possible without the aid of a focused strategy.
The embedded analytics capabilities in Oracle Taleo can overcome these challenges in the following ways:
- By measuring overall campaign success and the value of different hiring sources;
- By evaluating and comparing sourcing options such as agencies, job boards, websites, and social networks;
- By generating reports that provide vital statistics on the overall cost of a campaign and the cost of individual sourcing options.
Taleo reports such as the ones listed below can help you create effective recruitment strategies for future campaigns.
- Cost of hiring: This expenditure report that lists the number of hires by sourcing option provides a clear picture of the effectiveness of a source and the cost involved in finding the right hire. You can use figures on success rate and cost as a baseline for creating a recruitment budget and selecting the correct source for future hiring campaigns.
- Hiring trends: Data from reports can serve as a growth chart of how recruitment campaigns have evolved over a period of time.
- Success rate by group: Each group in an organization requires employees with different skill sets. By listing hired candidates by business unit, you can see how well a campaign played to the needs of various groups in the same organization. The recruitment team can use these data to show internal groups the reliability of the recruitment process and the time it took to close positions in a particular group.
Mindtree can help you transform your recruitment data into an intelligent database capable of helping you price and plan future recruitment strategies. As an Oracle Gold Partner, we are firmly committed to Oracle’s recruitment solution. Our large pool of Oracle-certified consultants use proprietary methods to ensure Oracle Taleo aligns with your business needs.