#008 - Data-based Recruitment

November 13 2020/30 min read

We have the largest skills gap in history, and top talent is on everyone’s agenda. Yet, the online marketing strategy for job openings is usually far less sophisticated than that for a pair of shoes. Rickard Rydström, CEO of We Select, takes us through 10 years of thoughts, failures and successes as he made the recruitment company an innovation leader when it comes to data-based recruitment. Listen in to find out how he did it. 

A written summary of the key takeaways can be found below.

Key takeaways from this episode

The threshold for changing jobs is high. Convincing people of why they should do it ought to be an obvious priority.

  • For retail the marketing funnel is usually very sophisticated: from attracting the customer, to engaging them, all the way through to a purchase. The same needs to be done for recruitment. 

We Select collected data from over 5,000 of recruitments.

  • Although not founded as a technology-first company, We Select were quick to realise the potential that good data management practices could have further down the line. 
  • They used data on the hire’s performance in the job as the ultimate metric for whether the hire was a good fit.
Selling something that no one knew they should want was hard at first, but they knew they were onto something when they succeeded in filling a seemingly impossible role.

  • The client was open to any type of background and experience. What was most important to them was that they were a good culture fit. 
  • They interviewed people at the company (who weren’t managers) to get a sense of the general company culture, then they created target groups and started looking at patterns for how people interacted with their ads. When a good candidate came through, they programmed the algorithm to put through more candidates that matched that person’s interaction pattern. 
  • The client’s normal culture fit success rate was 1/10. With We Select, the success rate was 7/10.
Rickard’s advice to others starting on their journey?

  • Talk to people who have done it before. Most people are happy to share their experiences!