The way businesses search for talent has completely changed in recent years. The majority of candidates can now be found online, and in return, candidates now have access to an abundance of information on companies. With more technology to provide access to job-seeker insights, companies no longer need to “go with their gut” in who they hire, how they structure teams, where they open offices and how they compete for talent. According to the Global Recruiting Trends report, nearly 70% of HR professionals think data could elevate their roles in the business whilst at the same time 42% says that poor data quality is the biggest barrier.
The launch of LinkedIn Talent Insights comes at a time when insights are critical to any talent strategy, and organisations need to be putting insights and analytics at the heart of their workforce strategies to stay competitive in a challenging hiring environment. Despite this, LinkedIn’s Rise of Analytics in HR report shows that just 1 in 5 UK businesses have adopted HR analytics and only 11% have adopted the role itself even though there has been a 49% increase YOY in HR professionals who list analytics skills and keywords on their LinkedIn profiles.
Talent Insights can help businesses change this - by infusing AI and tapping into LinkedIn’s real-time insights on 575M+ professionals, 20M+ companies and 15M+ active job listings it provides access to easy-to-understand insights for talent professionals and business leaders. Ultimately, LinkedIn Talent Insights enables recruiters to develop a talent intelligence strategy, ie: using a focus on insights to reinvent and improve every step of the recruitment process.
LinkedIn Talent Insights is organised into two powerful reports - Talent Pool and Company - that help you make informed decisions about recruiting and workforce planning and allow you to benchmark against your peers.
- The Talent Pool report - analysis report on a specific talent population (i.e. top skills, schools, engagement with a company’s brand)
- The Company report - analysis report on peer companies in the industry (i.e. distribution by geography, where talent is moving to and from)
Jerome Leclercq, Senior Manager of Product Marketing at LinkedIn UK, comments: “75% of the UK workforce now have an online professional profile, but only 1 in 5 businesses are making the most of the analytics. Tools like LinkedIn Talent Insights will provide business leaders with access to real-time workforce insights and analysis, which are critical to making informed talent-related decisions - including identifying an organisation’s future needs in terms of size, structure, type of talent, experience, skills, and industry knowledge.
Having access these data-driven insights at their fingertips will help businesses to stay ahead of the changing workforce and plan for the future (and present) job market, and attract the best talent in a limited pool.”
You can find more details in the blog post, and approved images here. Also, you can watch the video to see the product for yourself: Elevating your talent strategy with data-driven insights.