Utilising big data ‘can boost applications by half’
Recruitment agencies will be able to increase the conversion rate of job applications by 50 per cent if they effectively utilise big data, according to an industry expert.
Giles Guest, owner and director of Enhance Media, told attendees at the Year Ahead 2014 recruitment conference that many companies will be able to boost their results without increasing the amount they are required to spend.
According to figures supplied by the professional, 51 per cent of staffing firms believe the data they have access to currently is ineffective, while one quarter have admitted they are incorrectly interpreting the information.
In addition, a further 25 per cent stated they think the data available to them could be utilised in a more effective manner.
Among the key reasons recruiters fail to get the best results from the information are poor traffic volumes, failing to start with a question and misinterpretation of engagement.
Mr Guest highlighted a gauge often utilised by those within the content marketing industry – conversion in optimisation, or conversion rate optimisation (CRO).
This is a measure used to quantify the effectiveness of a website or landing page, as it tracks the percentage of visitors that go on to convert into customers. When it comes to recruitment, these web users would become candidates.
In order to improve their CRO, there are a number of things staffing companies could be looking to do, according to Mr Guest.
He stated: “Recruiters should remove certain links as even the smallest, such as the desktop toolbar, could be a distraction to a candidate. Having too many choices can lead to the wrong choice, or making no choice at all.”
While a relatively new phenomenon, the explosion of big data could be set to revolutionise a number of industries. With recruitment companies continually striving to ensure they have access to the best candidates, it is likely to become increasingly essential they effectively utilise the information available to them and improve the way they capture it.