In a recent announcement, LinkedIn has stated its official launch of Talent Insights, an analytics tool for talent to help businesses tap into the platform’s network of 575M+ professionals, 20M+ companies and 15M+ active job listings. It provides users with access to real-time data on talent pools and companies of interest in order to make improved talent decisions with data-driven insights. LinkedIn explains that they built Talent Insights based on three main priorities:
“1. Deliver data on demand: give HR leaders and talent professionals the ability to answer complex talent questions in minutes.
2. Make the insights actionable: ensure that anyone can interpret the data. You don’t have to be a data scientist to get immense value from the product.
3. Harness real-time updates on LinkedIn: provide the most accurate view of labor market trends at any given moment.”
Talent Insights strives to empower talent acquisition professionals, leaders, and analysts to make better recruitment and talent decisions across every role, region, and industry. It aims to help answer questions like: where are your competitors recruiting from? What skills will your company need in the future? Where should you open your next office?
LinkedIn states that:
“Talent Insights is comprised of two reports, which include unique cuts of data to help you with anything from peer benchmarking and retention analysis to university recruiting.”
LinkedIn groups the applications of the data into five different use cases for businesses:
1. Sourcing strategy: You can see where talent is located, their employers, and their skills to help your team recruit better. The Talent Insights Talent pool report can show you where specific talent lives:
2. Workforce planning: Get a view of labor market trends including skill growth, relative attrition rates, and skills in demand to properly build your teams.
3. Competitive intelligence: The Company Report tool allows you to compare your company to peers in your industry.
4. Employer branding: Get an understanding of the relative strength of your employer brand and how different audiences are engaging with it to help you develop the right messaging for your audience within the talent pool.
5. Geo-location decisions: Get the insights you need to make strategic decisions around where to open a new office.
It’ll be interesting to see how companies leverage this tool to make better talent decisions. In the war for talent, it’s critical that your business hires top talent to propel your business forward. Talent Insights gives HR and talent acquisition teams quick and real-time data to enhance hiring strategies and bring the high-level talent your business needs.