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HR is ‘new frontier’ for data science applications, CEO survey finds

July 08, 2015

In a complex post-recession job market with a growing talent gap, top executives are relying more on recruitment and HR leaders for innovative business strategies grounded in data, according to a new CareerBuilder survey of US CEOs.

The survey found 90% of CEOs said it’s important for HR leaders to understand and apply workforce analytics to their recruitment approach and 35% said this is “absolutely essential.” Nearly half, 48%, said their companies have lost money due to inefficient recruiting.

“HR is the new frontier for data science applications in business,” said CareerBuilder CEO Matt Ferguson. “In our study, CEOs acknowledge that the recruitment landscape is changing and the need for their HR teams to come forward with data-driven, competitive approaches and efficient technologies is more critical than ever. HR leaders are becoming more influential members of the executive team. CEOs are looking for HR to be just as data-savvy and digitally-savvy as other areas of the company, and take quick, measurable actions that move the business towards its goals.”

The survey also found 60% of CEOs said the inability to find enough qualified candidates limits their companies’ potential.

Lack of skilled candidates ranked as the top recruitment challenge, cited by 49% of CEOs surveyed. Inefficient recruitment process (takes too long to fill jobs) and candidate experience is not as good as it could be followed at 35% and 25% respectively.

The survey was conducted nationwide by Harris Poll on behalf of CareerBuilder from April 14 to April 21, 2015 among 88 leaders at companies with revenue of at least $50 million.