Recruitonomics 101: A primer for data-driven talent acquisition

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I’m a bit of a nerd. I went to computer camp as a youngster and I build software, I love a good political discussion, and I also geek out on economics, dairy farming (OK, mild digression), and data. So bear with me, as I catapult myself further into nerd-dom and explain a concept that I think may be materially valuable to many organizations who are struggling to find candidates now, or for those who will have a long list of reqs to fill in 2021.

What is recruitonomics?

Recruitonomics is the analysis of candidate supply and demand, jobs supply and demand, and competition for talent, as it relates to a hiring organization’s ability to recruit qualified candidates for open roles, and the price the market dictates they must pay to do so, at any given time.

If you’ve ever taken an economics class, you’ve likely seen a graph like this:

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