What is Hiring Algorithms?
The process of hiring and recruiting a new person in the organization always comes with the huge risk factor. Because on the basis of half an hour interview and some college degrees, it is hard to evaluate the caliber of a person. The real caliber of the person can be estimated only after the few months of working with him. And, by then it will be too late as the loss has already been done.
According to the CareerBuilder, companies lose average $14900 on every bad hire. Okay, so now don’t get all wired up as you are lucky to have big data algorithms to help you out. Yep, the rapid advancement and development in the data science field can be helpful in preventing you from making the bad hire decision. Let’s see how?
Knowing The Source of Data
For the companies who rely on the data algorithms for the hiring purpose outmost thing is to understand the source of data. As for the hiring purpose, data can be collected from numerous sources. But, the top HR management’s companies usually gather their data from three main sources:
Publicly Available Information.
The publicly available information is the information that can easily get from any common source. This information can be achieved from the social media, demographic information of the area, pay scale, employment rate, and much, much more.
This information is used to evaluate the past performance and credibility of the person. Mainly, the source of background information is the resume and references given by the person. The motive behind the background checks is to cross-examine the qualification and skills of the person.
- Interaction Data. The data which evaluated after interacting with the person is called interaction data. In this small hand movements, a way of talk and other gestures of the candidates are studied to collect the interaction data.
Understanding The Key Variable
After making the source of the data, next important step is to select a relative variable from the data. As according to IBM, about 2.5 quintillion bytes of data are created every single day. So, selecting the particular data that will help you in the hire is a very crucial task from the vast hub of the Data.
Because every job requires different variable data, such as for some qualification is the key variable and for other the experience of the candidate is vital. Well, it is a hard task, but thanks to the recruiting tools like Harver, this hard task can be easily accomplished now.
One Data Can Sort Numerous Other Issues
The data collection is a continuous process and in one data collection process, numerous elements are present. Like, while making your database for the hire, you will also get the best employees in the company and the bad employee. So, using that data you can strengthen the overall foundation of the company. One Data Can Kill Various Spades.
So, people now don’t waste time and with the LearnCodeOnline Machine Learning Course save your company from making a bad hiring decision.