Smaller businesses sometimes appear to have a tougher time recruiting and retaining quality employees. There are many reasons for this, in most instances SMEs tend not to have a dedicated HR department to manage the hiring, incentives and employee engagement. This means it is often down to senior managers and the business owners to not only look after the operational side of the business but also the employee decisions, hiring, firing, motivation and general HR.
It's an old saying but still very valid in today's business and technological world "a business is only as good as its staff". Employing the wrong person can be a very costly mistake, and not just in financial terms. Hiring someone who is not qualified, doesn't have the relevant experience or someone who is not a good cultural fit for your business can have implications far and wide. Their poor decisions could impact your IT systems, your customers, your communications and your staff morale. Added to this the financial cost of having to let them go and find someone suitable for the role and the problem now created. In short, a bad recruitment decision can be much more than damaging than first meets the eye.
So, with all this doom and gloom, how can you avoid this happening?
It was revealed in a survey from 2014 that 41% of managers had recruited someone into a business because they thought they were the best person they could find at the time, rather than waiting to actually find someone they truly believed was a suitable candidate. Further to this 42% stated there were strict timeframes for recruitment so they were rushed to make a decision. In recruitment you can't set these time limits and guarantee you'll find the best person for the role.
We know time is money and understand you can't wait forever to find your next employee. There will be pressure from all areas of the business to find a suitable candidate, that's where technology can play an important role.
Currently being reported as the saviour of recruitment for SMEs deep data science can be a valuable tool in your search and selection armoury. It is not designed to replace the human element but rather enhance it and help you avoid making poor decisions.
"Data science" has been called the new oil that will power the information economy. It can reduce the time is takes to hire new and talented employees to a business by using a series of algorithmic processes which analyse the details of digital CVs in far more detail than the average keyword search, something recruiters have never found particularly reliable. The new algorithms look at qualifications but perhaps more importantly career history to map out a person's career to date and potential next move. Based on the previous companies an individual has worked for it is also possible to see trends in the type of workplace than most suits.
The technology powering the new revolution in search and selection is largely based on the way the world's leading search engines work. You enter your requirements and off the robots go to find the most accurate and relevant results. It can take time to get to grips with a slightly different way of searching, however, the time saved and the reduction in poor recruitment decisions is worth the initial investment.