Content strategist Mike Loukides recently wrote, “The future belongs to the companies who figure out how to collect and use data successfully.”

While he may have been referring to marketing data, he could easily have been referring to recruitment. After all, recruitment essentially is just another form of marketing. Why do advertisers create focus groups? Administer surveys? Study consumers? They take the time to gather information on their consumers, analyze it, and use it to inform their marketing strategy and ultimately keep them ahead of the competition in the eyes of their target audience.

When it comes to recruiting, the importance of data to inform key decisions is no different. It is crucial that hiring managers and recruiters understand their target audience – who they are, what they value, how they approach their job search – in order to ensure they are reaching this audience with the right messages, at the right times and through the right channels.

Gone are the days when recruiters and hiring managers could get away with simply putting a job ad in a local paper, hoping people apply. Today, recruitment – that is, the efforts that attract, engage and retain the highest quality of employees – requires a strategy, and the key to that strategy is data.

And with more job seeker and employee data available than ever, employers today have no good reason not to use data to inform their recruiting efforts. In fact, ignoring this data is downright detrimental to their organizations, considering that the competition for attracting and retaining the best talent is more intense than ever.  Today’s savviest employers are already using data as part of their recruitment strategy, and the trend is only increasing; those who are not quick to embrace data will simply fall behind.

Data 101
Perhaps I should back up a bit, though. When I refer to ‘data,’ I’m referring to the years of research gathered from various job seeker, employee and employer surveys and tracking tools – all of which enable employers to make the most informed decisions around how to best grow their organization.

Still skeptical about the power and importance of data? Try me. No matter how baffling, how complicated or how seemingly obscure, there is almost no question regarding your recruitment process data cannot help you answer.  Even questions you didn’t know you had may be answered through data analysis. Take the following:

• Employment brand: What are the messages I’m sending to candidates? Does the way I perceive my corporate culture differ from the way others perceive it? How can I change this? What messages do I need to send to attract the candidates I want? Data can inform the way you communicate your message about your employer brand and prove yourself as an employer of choice – enabling you to better attract and retain top talent.
• Talent drain: Which companies do my employees typically leave to come work for me? Where do they go when they leave? Is there a pattern here? Am I targeting the right candidates? Who am I competing with for candidates? What do they offer that I don’t, and can I change this?
• Supply and demand: Where are my ideal candidates located? Which area of the country? Do I need to consider non-local candidates and offer relocation services? How can I convince qualified local talent to stay and work for me?
• Relocation: Are job seekers willing to relocate? Are workers of a certain age or education level more likely to relocate than others? Are certain areas of the country more attractive to job seekers than others?
• Compensation: Is the salary I offer competitive? Does it prevent candidates from applying to my organization? How does it compare to current trends in terms of industry, location and company size?
• Diversity: How can I attract a diverse set of workers? What do job seekers with various skills, experience and educational backgrounds seek in a potential employer? What are the messages I need to communicate to attract these different groups? What can I offer at my organization to promote and implement diversity?
• Applicant drop-off: Am I attracting the right candidates, but losing them during the application process? Is there a way I can simplify the application process to ensure candidates complete the application process? What prevents people from applying to my positions?

And that doesn’t even scratch the surface…

There is so much power in recruitment data as far as what you can find out about job seekers, employees, and, ultimately, your own organization, it’s nearly impossible to justify not using it as part of your recruitment process. While the idea of implementing data into your recruitment strategy may seem overwhelming, it will ultimately save more time and money than ever once you see all the possibilities data intelligence opens up for you. Even better: you will continue to reap the rewards long after you’ve put your strategy in place.

If it helps, think of it this way: In the simplest of terms, the question you’re ultimately answering is, “How can I most efficiently attract and retain the talent who will help my organization grow?”

Otherwise, if you’re not using data, it’s all just guesswork.

Jason Lovelace is an Area Vice President at CareerBuilder, LLC, where he is responsible for sales strategies and revenue growth for companies ranging from Fortune 1,000 companies to midsized businesses throughout the U.S.

Join CareerBuilder’s Area Vice Presidents Jason Lovelace and Will Emmons on Thursday, June 23 for Data Not Just for Data’s Sake, an exclusive webcast about adapting to the ever-changing recruitment landscape. Learn more or register here.