MNCs big data analytics

Big Data analytics have helped the organization to double its revenue in no time. An intelligent analysis of data is what you need if you wish to succeed in the coming years. Success is why almost all the top MNCs have adopted and started implementing big data practices for their databases.

Today we will see as to how these MNCs are using big data to their advantage. The blog covers the following topics-

MNCs and big data
MNCs are using big data to their advantage.

How Are Multinational Companies (MNCs) using Big Data?

customer data acquistion
Boosting customer acquisition with big data.

Using Big Data Analytics to Boost Customer Acquisition and Retention

The utilization of big data enables organizations to watch different client related examples and patterns. Watching client conduct is essential to trigger devotion. Hypothetically, the more information that a business gathers, the more illustrations and patterns the company can probably recognize.

In the cutting-edge business world and the present innovation age, a business can, without much of a stretch, gather all the client information it needs. The client information implies it is straightforward the cutting-edge customer. Fundamentally, all that is essential is having a significant information investigation methodology to expand the knowledge available to you.

With an appropriate client information examination component set up, a business will have the capacity to infer primary conduct bits of knowledge that it needs to follow up on to hold the client base.

Use of Big Data Analytics to Solve Advertisers Problem and Offer Marketing Insights

Big data analytics can help change all business activities. The analytics incorporates the capacity to coordinate client desire, changing an organization’s product offering and guaranteeing that the showcasing efforts are incredible.

How about we face the stripped truth here. Organizations have lost millions spent in running ads that are not productive. For what reason is this incident? There is a high probability that they avoided the exploration stage.

Big Data Analytics for Risk Management

The extraordinary occasions and profoundly unsafe business condition calls for better chance administration forms. Fundamentally, a hazard of the executive’s plan is underlying speculation for any business paying little respect to this area.

Having the option to observe, in advance, a potential hazard and moderating it before it happens is necessary if the business is to stay beneficial. Business specialists will advise that a venture hazard the executives includes considerably more than guaranteeing your business has apt protection.

Big Data Analytics as a Driver of Innovations and Product Development

Another immense bit of leeway of enormous information is the capacity to help organizations improve and redevelop their items. Fundamentally, the vast information has turned into a road for making extra income streams through empowering advancements and item improvement.

Associations start by amending as much information as would be conceivable before planning new product offerings and re-structuring the current items. Each structure procedure needs to start from setting up what precisely fits the clients.

There are different channels through which an association can contemplate client needs. At that point, the business can recognize the best way to deal with it again by that need dependent on big data analytics.

Use of Big Data in Supply Chain Management

Big data offers provider systems more prominent exactness, clearness, and Insights. Through the utilization of enormous information investigation, providers accomplish logical insight over the supply chains. Fundamentally, through massive information investigation, providers can get away from the limitations confronted before.

Previously, the data was using the conventional undertaking management frameworks, and the store network the executive’s frameworks. These inheritance applications didn’t use enormous information investigation, and in this manner, providers brought about colossal misfortunes and were inclined to making mistakes.

Be that as it may, through present-day methodologies based on vast information, the providers can almost certainly use on more significant amounts of logical knowledge, which is essential for store network achievement.

Examples of how some MNCs are using Big Data Analytics

1. Amazon

The online retail goliath has got access to a gigantic measure of information on its clients; names, locations, installments, and search accounts are altogether documented in its information bank. While this data is put to use in publicizing calculations, Amazon likewise utilizes the data to improve client relations, a region that numerous big data users disregard.

Whenever you contact the Amazon help work area with an inquiry, don’t be astounded when the worker on the opposite end has already received a large portion of the relevant data about you close by. The applicable data takes into consideration a quicker, progressively practical client administration experience that does exclude illuminating your name multiple times.

2. American Express

The American Express Company is utilizing big data to break down and anticipate shopper conduct. By taking a gander at authentic exchanges and fusing more than 100 factors, the organization uses refined prescient models instead of conventional business insights based on knowing the past.

Current time permits an increasingly precise conjecture of potential beat and client dedication. American Express has guaranteed that, in their Australian market, they can anticipate 24% of records that will close within four months.

3. BDO

National bookkeeping and review firm BDO puts enormous information examination to use in recognizing danger and extortion during reviews. Where, previously, finding the wellspring of inconsistency would include various meetings and long periods of labor, counseling with personal information initially and takes into consideration a fundamentally limited field and streamlined procedure.

In one case, BDO Consulting Director Kirstie Tiernan noted, they had the option to cut a rundown of thousands of merchants down to twelve and, from that point, audit information exclusively for irregularities. A particular source was generally recognized rapidly.

4. Capital One

Marketing is one of the most widely recognized uses for enormous intelligence, and Capital One is at the highest point of the game, using massive information management to enable them to guarantee the achievement of all client contributions.

Through an examination of the socioeconomics and ways of managing the money of clients, Capital One decides the ideal occasions to display different ideas to customers along these lines, expanding the change rates from their interchanges.

In addition to the fact that this results in better uptake, advertising systems become unquestionably more focused on and pertinent, in this way, improving spending assignment.

5. General Electric (GE)

GE is utilizing the information from sensors on apparatus like gas turbines and fly motors to distinguish approaches to improve working procedures and unwavering quality. The resultant reports are then passed to GE’s examination group to create instruments and enhancements for expanded proficiency.

The organization has assessed that information could support efficiency in the US by 1.5%, which, over a 20-year time frame, could spare enough money to raise typical national salaries by as much as 30%.

6. Netflix

The entertainment streaming service has an abundance of information and examination, giving knowledge into the survey propensities for many global customers. Netflix utilizes this information to commission unique programming content that interests all around just as acquiring the rights to movies and arrangement boxsets that they realize will perform well with specific crowds.

For instance, Adam Sandler has demonstrated disliked in the US and UK showcases as of late, yet Netflix green-lit four new films with the on-screen character in 2015, equipped with the information that his past work had been effective in Latin America.

Conclusion

Good analytics of your big data can give you many advantages. These are some of the fundamental ways in which MNCs are using big data. There is much more to this picture. But these are some of the very basics for big data analytics. Look for a way to up your knowledge and training about big data — hadoop; (janbasktraining.com).

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An AT&T logo seen outside an AT&T store.

Enlarge / An AT&T store in Washington, DC, on April 21, 2015. (credit: Getty Images | Bloomberg)

AT&T yesterday announced three new “unlimited” data plans. Keeping track of all the different limits on AT&T’s unlimited mobile plans is just as difficult as ever, but there’s some good news for customers who use lots of smartphone data.

Buying AT&T’s cheapest unlimited plan still comes with the risk of getting your data throttled to speeds slower than those provided to other customers when the network is congested. The possible throttling can be imposed at any time, even if a customer hasn’t used much data that month. But while upgrading to pricier plans currently only gives AT&T customers 22GB a month before possible throttling, the plans coming out soon have options for at least 50GB or 100GB of un-throttled use.

AT&T’s current entry-level plan is called “Unlimited & More.” It costs $70 per month for one line (not including taxes and fees), with the per-line prices descending with each additional line you buy. Each line costs $40 a month if you buy four lines.

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An AT&T logo seen outside an AT&T store.

Enlarge / An AT&T store in Washington, DC on April 21, 2015. (credit: Getty Images | Bloomberg)

AT&T yesterday announced three new “unlimited” data plans. Keeping track of all the different limits on AT&T’s unlimited mobile plans is just as difficult as ever, but there’s some good news for customers who use lots of smartphone data.

Buying AT&T’s cheapest unlimited plan still comes with the risk of getting your data throttled to speeds lower than those provided to other customers when the network is congested. The possible throttling can be imposed at any time, even if a customer hasn’t used much data that month. But while upgrading to pricier plans currently only gives AT&T customers 22GB a month before possible throttling, the plans coming out soon have options for at least 50GB or 100GB of un-throttled use.

AT&T’s current entry-level plan is called “Unlimited & More.” It costs $70 per month for one line (not including taxes and fees), with the per-line prices descending with each additional line you buy. Each line costs $40 a month if you buy four lines.

Read 12 remaining paragraphs | Comments

from Biz & IT – Ars Technica https://ift.tt/332CDuV
https://arstechnica.com

An AT&T logo seen outside an AT&T store.

Enlarge / An AT&T store in Washington, DC on April 21, 2015. (credit: Getty Images | Bloomberg)

AT&T yesterday announced three new “unlimited” data plans. Keeping track of all the different limits on AT&T’s unlimited mobile plans is just as difficult as ever, but there’s some good news for customers who use lots of smartphone data.

Buying AT&T’s cheapest unlimited plan still comes with the risk of getting your data throttled to speeds lower than those provided to other customers when the network is congested. The possible throttling can be imposed at any time, even if a customer hasn’t used much data that month. But while upgrading to pricier plans currently only gives AT&T customers 22GB a month before possible throttling, the plans coming out soon have options for at least 50GB or 100GB of un-throttled use.

AT&T’s current entry-level plan is called “Unlimited & More.” It costs $70 per month for one line (not including taxes and fees), with the per-line prices descending with each additional line you buy. Each line costs $40 a month if you buy four lines.

Read 12 remaining paragraphs | Comments

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IoT eCommerce

Imagine you have to buy new headphones, what will you do: go to the nearest store or open a browser or jump on your mobile app? More and more people today tend to choose the second variant since it takes less time and effort. The number of online-shoppers will keep growing, as e-commerce — online commercial transactions — becomes more comfortable by introducing high-tech solutions, for example, IoT-based.

IoT (Internet of Things) is an ecosystem of smart devices that have access to the internet and can communicate with each other. IoT changes the eCommerce industry not only from the consumers’ side but also from the inner one. (e.g., processes like inventory management, logistics.) The changes IoT brings to the e-commerce industry are both positive and negative.

How IoT Changes E-commerce

Even before going online, commerce utilized intelligent devices to improve service and product monitoring: it was 1982 when Coca-Cola installed smart vending machines that reported how much drink was left inside and how cold it was. Today, with the power of the internet and IoT, commerce has gone far ahead.

IoT in E-commerce: positive effects

Let’s begin with the e-commerce processes that benefit from IoT technologies.

Inventory Management

The IoT sensors and RFID (Radio Frequency Identification) tags revolutionized the way inventory is organized. They allow getting all the important product information (like product types, availability, expiration dates, and others) without human intervention. For customers, it means the possibility to see whether the product is available right now. While for business owners, it helps to monitor the quantity and quality of the product. For example, sensors check if the temperature in the warehouse is low enough for perishable products and warns the system if it is not.

The introduction of smart shelves has pushed inventory management even further. They monitor the number of goods and can reorder them when needed to avoid running out of stock.
These all cut down the risk of human error and the number of the working hours required.

Supply Chain Management

Tracking the journeys of the product has never been so accurate and detailed. With the help of IoT sensors and RFID tags, you always know what happens to the product: where it is, how fast it travels, under what conditions it is stored, etc. It allows calculating arrival time more accurate and avoiding losses or misdeliveries.

It also works well from the customers’ side: they can always make several taps at the mobile phone to see where their shipping is and how soon it will get to their doorstep.

Maintenance, Warranty, and Theft/Loss

IoT technologies are also perfect tools for remote monitoring of a product, for predicting its maintenance and analyzing performance. It provides business with more information about how the product is used and allows predicting and preventing break-downs. If the sensors report the poor functioning of a product, the company can call the customer and suggest repairment or replacement before the customer faces serious difficulties.

Another useful option of implementing IoT is the opportunity to find things if they are lost or stolen. We bet, at least once, you have forgotten an umbrella or jacket at a cafe or friend’s house. What if, after moving 500 meters away from your stuff, you got a notification like “it seems that you have forgotten your umbrella at the Martin’s?” Let’s admit, convenient. A decade ago, we did not expect our fridges to reorder milk and eggs, so why not have small smart sensors at clothes or other things by the year 2030?

Smart Homes

Here we should remember Amazon’s dash buttons that simplify routine tasks. These small buttons can be placed anywhere in the house and programmed through mobile apps to perform some actions. For example, you can to reorder washing powder or five packs of your favorite cookies by pushing one small button.

One more attribute of IoT in smart homes that businesses should take into account is voice assistant. People with such a device prefer not to browse for things they need. They command the voice assistant to buy them. But the problem is that the assistants are likely to order the same product for all the people with the same request. It means that some brands can get thousands of orders and huge revenues while others will be ignored. To avoid the latest, brands have to adapt their marketing companies not only for search engines but also for AI algorithms.

Personalization

The more business knows about a particular customer, the more personalized experience and approach it can provide. And it effectively converts into loyalty and revenue growth. Having information from smart home devices significantly broadens the business’s opportunities. For example, if someone’s microwave oven consumes too much energy, you can send them an ad of your new economy model that saves energy and money. The same works for mobile phones, which communicate with lots of other devices around the users. Therefore they are a perfect source of information helping companies to draw detailed portraits of their customers.

Insurance companies are already using IoT-empowered smart devices (like GPS, movement, and speed sensors) to track people’s behavior and driving habits. The personal approach here implies discounts for careful drivers and higher rates for those who like exceeding the speed.

IoT in E-commerce: adverse effects

Just like everything else, the utilization of IoT in e-commerce has its dark side. Let’s take a look at it.

Unemployment

Automatization of the processes leads to an increase in unemployment since machines now do the job. The more people have no jobs, the lower purchasing power becomes. So, enterprises might save money but lose consumers.

Data Security Issues

Data security issues are still a weak point of IoT smart devices that are not related to security (like smart locks or smart home security systems). Since these devices have access to personal information, the risk of insecurity is a critical moment to consider.

Cost

Even though IoT-based solutions gradually get more accessible and cheaper, still not all companies can afford them. Only huge game players with high incomes can take full advantage of it and get far ahead of their smaller competitors. It means the survival and development for small and middle businesses become even more complicated.

IoT Trends in E-commerce: What Is Next?

All the mentioned above methods of utilization of IoT technologies in the e-commerce industry will keep growing, but let’s highlight the most promising trends.

Dron delivery

In 2016 Amazon first introduced shipping delivery using drones. It might be not so popular right now. But soon, more and more companies will offer drone-empowered same-day delivery to provide a better customer experience.

Security

As we have already mentioned, security issues take place quite often. While IoT technologies are becoming more and more adopted, the need for proper data protection will grow. So, IoT data security solutions development can be a perfect basement for a business strategy.

Mobile phones

Probably, there is no other device that stores more personal info than a smartphone. Searching for the most effective ways to use this information treasury might become one of the key goals of any business in the e-commerce industry.

Conclusion

The most critical IoT benefit to take into account is the automation of business processes. It helps to save money and time, to provide better customer experience, and to manage everything more effectively.

Another essential thing to consider here is collecting data about your customers and the market. Missing the opportunities to know it better might be a dangerous mistake for any business, especially for a customer-oriented company like e-commerce. The best advice here is to consider the development of IoT-based software solutions, such as Scand.com, Industries IoT — focuses on mobile apps and other ways to collect customers’ smartphone data.

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How a company treats its people — there’s power in this statement. Nearly 70 percent of candidates determine their expected future treatment by a company based on their candidate experience in the hiring process, according to a recent CareerBuilder survey

Candidates are on high-alert for red flags at every stage of your hiring process. And their ability to walk away at any moment defines the evolution of your hiring process. Every moment impacts the candidate experience which means you can’t leave anything up to chance. 

The candidate experience impacts each step of the hiring process, but you can take these steps to improve it at every stage: 

The application

The job search is a tedious and time-consuming process to add atop applicants’ already demanding schedules. When your application process doesn’t indicate your company respects what little time they have available, they simply drop out. 

Here’s what drives candidates away during the application process: 

Unnecessarily long or complicated applications 

Most candidates don’t have hours to dedicate to applying to open roles. In fact, one-in-five respondents in CareerBuilder’s previously-mentioned survey give less than 10 minutes to job applications. 

This reinforces the balancing act many candidates perform on their job search. They’re applying on lunch breaks, before or after work, when their families go to bed, and during any other small free moment of the day. 

Any redundancy between standard or mandatory information included in resumes and accompanying application materials and the actual application are generally viewed as a waste of applicants’ time. 

Poor mobile application experience

Smartphone ownership exploded to 77 percent of U.S. adult users in 2018, according to a survey by the Pew Research Center. The increase in smartphone users consequently boosted mobile job searches and applications. In fact, promoting the job application process as mobile-friendly increases the number of job applicants by 11.6 percent compared to those that aren’t mobile-friendly, according to research by Glassdoor.

A negative candidate experience on mobile results in rapid dropout. In fact, one-in-five candidates in the CareerBuilder survey cited above stated they go just two to three pages on a mobile device before dropping out. Additionally, mobile job seekers successfully complete a whopping 53 percent fewer applications and take 80 percent longer to complete each application, according to Glassdoor’s Rise of the Mobile Devices in Job Search report. 

Improve the candidate application experience: Be respectful of candidates’ circumstances by adding only the most critical elements to the application. Consider what you need to make an informed decision at this stage of the process and create a quick and simple application. 

Boost your response rate by promoting your application process as mobile-friendly on social media. For example, “Apply from anywhere in just 10 minutes: [direct link to your career page].” 

Also, implement efficient hiring technology into your process to create an easier mobile application experience. Be sure to offer quick assistance to resolve tech issues so candidates progress without wasting time. Keep application pages to a minimum and create an easy-to-access space for candidates to upload and save application materials. 


Mobile application processes are only a pro if you’re enhancing the #candidateexperience.
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Interview scheduling

Post-application, when candidates are officially in your hiring process funnel, the candidate experience is more personal. At this stage, when you reach out directly to schedule interviews, candidates begin to connect each movement forward with the effectiveness of your communication. As a matter of fact, the candidate experience during interview scheduling is directly impacted by how timely and personalized you make your messages. 

Here’s what drives candidates away during the interview scheduling process: 

Follow-up time between application and interview is too long

It’s a job seekers’ market — and candidates’ expectations are soaring because of it. In fact, 43 percent of CareerBuilder’s respondents say they now have higher expectations for how employers will treat them as a candidate. 

Adding even more pressure to your hiring process, candidates are refusing to wait around to hear back from hiring pros. Instead, they’re looking for new opportunities. CareerBuilder’s respondents (55 percent) say they’ll give up and move on if they haven’t heard from an employer within just two weeks of applying. 

Communication about “next steps” isn’t clear 

Candidates value your consideration and respect. Even before they apply, 36 percent of candidates in CareerBuilders’ survey say they expect to speak directly to a company’s hiring pro. It’s no surprise the CareerBuilder report revealed 82 percent of candidates also expect employers to provide a clear timeline for the hiring process and keep them updated throughout the process.

Improve the candidate interview scheduling experience: Create a strategy that focuses on quick communication after receiving every application. This means following up with candidates even if you will not be advancing them through to the interview process. 

Fortunately, hiring technology makes effective and efficient communication easier than ever. Idibu, for example, has a traffic light feature which allows you to click a green, amber, or red light for each candidate application. If a candidate receives a green click, an automatic and personalized message is sent to them detailing your interest in their application. 

After advancing the most qualified candidates, use time-saving interview scheduling software to coordinate one-way or live video interviews to screen candidates. This decreases the time from application to scheduled interview and candidates feel empowered by being able to place themselves on your calendar.  

Give candidates a greater sense of control during the interview scheduling process by presenting them with clear, detailed timelines. Use this information to show there’s progress and motion already in place. When changes occur, update candidates frequently to keep them in the know and invested in the process. 


Today’s candidates demand respect — a seamless #interviewscheduling experience will give them just that.
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The interview

Once you have scheduled interviews, you typically set your sights on evaluating candidates for your open roles. However, they’re not the only ones who need to focus on making a positive impression. 

As a hiring pro, you’re responsible for delivering a positive candidate experience through the interview. You are the first impression they receive from your organization. And it’s your job to ensure they get a sense of the culture as well as how well they align with your team’s values and personality.

Unfortunately, 65 percent of candidate respondents in LinkedIn’s recent report say that a bad interview experience makes them lose interest in the job. And chances are, if they lose interest in the job at this stage in the hiring process, they’re also going to lose interest in the company. 

Here’s what drives candidates away during the interview process: 

Candidates don’t see hiring pros as valuable resources

Candidates use various resources to research and prepare for interviews. Respondents in LinkedIn’s previously mentioned report say they gather information from your company website (53 percent), LinkedIn (38 percent), search engines (35 percent), and contacts at your company (32 percent). 

The trouble is, only one out of four of these sources of company information is in your complete control: the company website. LinkedIn gives candidates access to current and former employees, possibly landing them on a disgruntled one, search engines reveal endless result possibilities, and you can only hope current employees consistently represent the company in a positive light. 

Expectations of candidates are lofty

You have high expectations of candidates. You’re searching for people with the power to elevate your organization. Focusing too heavily on these expectations, however, takes a toll on the experience candidates have in your hiring process. Many candidates are already overwhelmed by their seemingly endless job search. If you make them feel as though they’ll never satisfy your demands, they are sure to abandon your hiring process. 

Unstructured interview processes add to the unease candidates feel when interviewing. And they’re less likely to feel confident they are being evaluated fairly against other candidates.

Candidates don’t grasp the culture

Candidates in the interview stage want more than to know their skills and qualifications are a match for the role. This late in the game, candidates (42 percent) look to see how they’ll fit with a team, according to LinkedIn’s report. 

Candidates who can’t grasp your culture during the interview stage second-guess their decision to move forward in the process. The stress of making a career move without feeling confident they belong has the power to destroy any former connections you made with candidates. Concerns of not belonging can cause candidates to abandon this, and any future opportunities with your company.

The interviews are never-ending

An efficient hiring process ensures an impressive candidate experience. Efficiency isn’t at the forefront if candidates feel your interview process requires the time commitment of a part-time job. 

On average, candidates in LinkedIn’s report experience three interviews and the vast majority (84 percent) say they are satisfied with this number. Requiring more than three interviews means candidates must incur large travel costs and, in the case of passive candidates, take off excessive amounts of work, burning their PTO.

 

Improve the candidate interview experience: Design a structured interview process and present yourself as the most valuable and trusted resource. This ensures the candidate experience improves while you remain in control of the information they receive. 

Create branded video messages with tips to successfully complete your interview process or a step-by-step rundown of events and timelines. As you personalize the process with video, candidates feel a closer connection, further instilling trust and a positive experience.

Give candidates a direct in-person experience with your culture, as well. Schedule office visits during interviews so they get a sense of how their personality aligns with potential future peers.  

Maintain your starting interview standards at three interviews. Decide from there if you’re able to effectively assess candidates or if you need more information. If you need more information, determine if an additional interview is the most effective solution.

Also, make live video interviews part of the interview process to decrease the number of in-person interviews. You have the benefit of assessing soft skills and making a personal connection with candidates. At the same time, they spend less time traveling and taking time from current jobs. 


Show candidates exactly what it’s like to work alongside your team during the #interviewprocess.
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Making the offer

Candidates change jobs for any number of reasons. It’s not a decision made on a whim. They take their career shift seriously, and as a result, candidates want their needs and expectations to be met from start to finish. 

Here’s what drives candidates away during the offer stage of the hiring process: 

They don’t see overarching positive change

Candidates seek career changes for various reasons. No matter their ‘why,’ candidates look for the ‘how’ throughout your hiring process. Especially during the offer stage, candidates want to see how your opportunity and company will positively impact their career. 

If an overarching positive change isn’t clear, it’s possible candidates won’t see the benefit of accepting your offer. According to LinkedIn’s report, for example, 45 percent of candidates consider a new opportunity because they want higher compensation. Your top choices can make it all the way to hearing your offer just to find out you can’t meet their needs. 

Candidates may even accept your offer with hopes they’ll see improvements from their previous role, like 37 percent of LinkedIn’s respondents looking for better skills and interests fit. Unfortunately, they could then get halfway through onboarding just to realize it’s not what they expected. In both cases, you’re stuck back at the beginning of the hiring process, looking for better-qualified candidates. 

Improve the candidate offer-acceptance experience: Prove your company provides powerful changes for current employees. Then, ask candidates direct questions regarding their career goals. For example: 

  • Do you think this position aligns with your professional goals? In which ways?
  • What skills or knowledge would you like to learn to make you better in your role?
  • What are your future career goals and what do you need to achieve them?

Once you understand what candidates need and expect, show how the company and in-house programs will help meet those goals. It’s possible they can be met quickly through continuing education courses or mentorship opportunities. Or a flexible plan could be made for their five-year stretch goals. The key is to show how their positive candidate experience will carry into their employee experience and well into their future at your company.


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