In the information age, organizations are more powerful as they have more information. However, having information is not enough. It needs to be compiled and organized so that it can be used. This compiled information can be used in many areas of an organization, including the recruitment of new employees. Organizations are always looking for ways to improve productivity and profitability. The COVID-19 pandemic has made this even more important. To do this, they need employees with the right skills for the job. This is where data science comes in. Data science is the field of study that analyses and processes data so that it can be used to make and create informed decisions. This study aims to investigate how data science can be used to help organizations hire new employees. The project will explore how data science can be used to identify the skills and qualifications that are most important for a particular role, screen candidates more effectively, and make better hiring decisions.
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In the realm of the job market, there exists a duality: permanent contracts (job-led market) and temporary contracts (candidate-led market). Currently, due to factors such as low employability, the pursuit of new skills, economic uncertainty, and the more recent Covid-19 pandemic, we have witnessed a transformation in the job market, with a shift towards temporary contracts. Not too long ago, those entering the job market had a mindset of securing employment with a reputable company and staying there until the end of their careers. Employees didn’t plan frequent job or company changes, and there was suspicion towards those who did. Companies only parted ways with employees in truly dire circumstances, and employees received benefits based on their tenure and salary. Today, the situation is different. Employees change jobs and employers more frequently due to increased opportunities and a greater need for skill development. Layoffs are more common, employees view themselves as more temporary, and employers as more like customers. Part-time work is more prevalent, and employees take greater responsibility for their retirement plans. External factors also exert significant influence on the job market. This shift in mindset and the job market has been further exacerbated by the recent Covid-19 pandemic, which forced many individuals to change careers and leave their previous industries. High-quality candidates are a valuable commodity, so it’s no surprise that recruitment leaders are constantly vigilant and on the lookout for new technologies to help them find the best candidates for their roles. This leads to the need for organizations to hire employees with specific skill sets to fulfill their requirements. This necessity has given rise to roles such as “Talent Analytics” and “People Science,” which represent a more technological approach to work. These new roles are part of a field known as Data Science. As modern technology has evolved, the creation and storage of vast amounts of data have become possible. However, often these data remain dormant in databases and are not used. The use and interpretation of this data bring significant benefits to organizations and societies worldwide as it aids in making more informed and thoughtful decisions. This is where the benefits of Data Science come into play, as it involves studying this data and creating data banks. Data Science uncovers trends and generates insights that companies can use to make better decisions, particularly in understanding and distinguishing each candidate to ultimately select the best fit for the company’s needs. Indeed,
“As a vast amount of data is currently available, organizations across various industries are focused on exploring them to gain a competitive advantage” (Provost & Fawcett, 2013a, p. 1).