Recruiting teams often wish for clairvoyant powers. What talent pro wouldn’t want the power to accurately predict when a role will be filled?
This continues to be a huge challenge for recruiting teams. Having a better understanding of when a role will be filled helps businesses to better anticipate and sidestep the costs of a slow hiring process.
We’re not psychics by any means, yet as of today Greenhouse Recruiting customers will have more power to see into the future. Using machine learning, Greenhouse Predicts, helps forecast candidate offer acceptance and new hire start dates, allowing Talent, Operations and Finance teams to more easily see around corners, make informed decisions, and effectively communicate timelines. The future is here.
Our resident Data Scientist, Andrew Zirm, believes in the importance of this new feature for talent teams.
“Recruiting is a team sport. With Greenhouse Predicts, we’re able to provide more visibility across the org, especially for finance teams. We’re opening up a new channel of communication that helps the HR team answer tough questions about when hires are going to be made, and when salaries are going to hit the books. This is a big win for recruiting teams.”
Over a year in the making, our team has collected and analyzed more than 9.5 million data points. We’re proud to be able to say that over 90% of the time, predictions are within 3 weeks of true time to hire.
“I’m excited about this - because we have this great historical data, we can cut through the fog of hiring,” said Zirm. “We know alot about how candidates move through pipelines, so we’re able to provide a bit more insight on how your company is doing at a high level.”
How does Greenhouse Predicts work?
Our team has built a statistical model of typical job pipelines and candidates moving through them, by using historical data from millions of applications across hundreds of thousands of jobs.
Because Greenhouse Predicts was built using machine learning, the predictions you see in your Greenhouse Recruiting dashboard for open roles will continuously improve over time and become more fine-tuned to your org as hiring patterns emerge.
With Greenhouse Predicts:
Recruiters are better equipped to prioritize tasks and manage resource allocation with knowledge on which roles are on-track and which ones need more attention
Hiring Managers have visibility into the health of their jobs and can more easily guide proactive conversations around realistic start dates
Finance Teams can accurately forecast salary spend and plan accordingly
Ultimately, Greenhouse Predicts serves as a guide, indicating whether your jobs are on track or not based on your target hiring date. By providing relevant insights and data, we’re able to help your teams make informed decisions, be more proactive, and better set expectations with internal stakeholders.
Want to learn more?
For more detailed non-technical (and technical) explanations on how the Greenhouse Predicts model was built, how it works and evolves over time, read this.
Check out this helpful FAQs document we’ve created for current customers here.