Businesses are on continuous path of growth and the only resource that can guarantee success is people. Therefore organizations are continuously building strategies and resources that can attract and retain the best talent available as per diverse skill sets. Moreover with the evolution of technology in recruitments lot of emphasis have been given on hiring the best fit candidates and recently talent intelligence have become a prime fascia.
If talent intelligence needs to be understood in simple form then it means data science and machine learning of candidates so that the recruiters and companies are able to make better informed people decisions. The wealth of candidate data extracted from technology gives recruiters an upper edge in calculating the fitment and the value addition. Therefore more and more companies are on a lookout for talent intelligence resources. So here we will talk about some of the key features that talent intelligence brings
What Talent Intelligence Do?
It gives data of candidates representing community of existing available talent pool, internal and former employees, passive candidates and candidates present at direct & indirect competitors.
The data brings a diverse understanding of candidate in respect to functional and general skills, work performance & productivity, employment history, behaviour & cognitive mapping, social media communication, educational qualification and salary benchmarking.
What Companies Have Gained?
By introducing talent intelligence, companies have been able to select out candidates that are keen and confident to join, identify direct & indirect industries, skills and expertise from which they can source candidates and which candidates can bring a positive wave in the company.
What Else Does Talent Intelligence Do?
Other than candidate insights talent intelligence is also able to extract details that give further supports to companies and recruiters about their hiring trends and strategies. Some of them are:-
- Source and quality of hire: understand the current trends about sourcing and hiring quality candidates.
- Labour market and skills gap: analyze whether there is a talent shortage in a specific area or department, and find ways to fill these gaps with qualified talent.
- Migration reports: map how your competitors are attracting your talent and why your top performing talent are leaving you.
- Benefits & salaries comparison: compare how your competitors are giving employers for the same role & profile. Understand what benefits, compensation & rewards system are existing across industries and organizations as yours.
There is no doubt that talent intelligence has changed the way companies are sourcing and hiring candidates. Beyond this this is helping HR Managers in building strategies that retain the best talent and ensure that the existing talent pool is able to give their best towards the assigned role.