Owski explained that this product comes from the massive workforce data LinkedIn has amassed from over 500 million members, 11 million jobs, 18 million employers and 50,000 standardized skills. "Clients have told me that they want us to deal with the data, so they can get the answers they need, not after two weeks of discussions with my team or by hiring a team of consultants or data scientists, but in 10 minutes on their laptop." "In some cases HR is already drowning in data," Hastings said.
"Over 70 percent of CEOs say that talent creates a competitive advantage for their company, but only about a third of HR functions say they are good or excellent in finding data insights needed to execute a talent strategy."Īfter talking with HR leaders, LinkedIn realized that what companies want is not more raw data to sift through but actionable reports. There's a disconnect in the industry, she said. They field queries like "What are the best emerging cities to hire engineers?" "Are we losing critical skills to other companies?" and "How does my employer brand compare to my peers?" LinkedIn's talent intelligence unit receives 10,000 requests every year from employers looking for answers to help inform their recruiting strategy, said Kate Hastings, LinkedIn's senior director of insights. Or maybe they want your input on where to open a new office based on hiring difficulty in different locations." Maybe they want to understand why attrition is skyrocketing on the sales team. "Maybe wants to know where you're going to start looking for engineers since your local market is over-fished. Talent intelligence is especially important when approaching strategic discussions with business leaders on hiring and workforce planning, said Eric Owski, LinkedIn's head of product for Talent Insights and Talent Brand. Imagine being able to compare the skills of your organization to that of your competitors and being able to measure the effectiveness of your workforce strategy by evaluating talent inflows and outflows relative to your competition." "Imagine that when you identify the skills and talent you need to take advantage of future opportunities, you can narrow in on specific locations globally that have a surplus of that talent. "Imagine where you can identify the fastest growing skills within your company, where demand is accelerating fastest, where there are potential skills gaps, and having the ability to develop the right recruiting, learning and development strategies to close those gaps," he said. LinkedIn CEO Jeff Weiner introduced the service at LinkedIn Talent Connect, a conference for recruiting professionals. LinkedIn Talent Insights, scheduled for wide release in 2018, is a self-service product that compiles analytics on talent pools, skills and other companies' workforce composition, so that HR professionals can make smarter decisions on workforce planning, sourcing, skills development and retention. NASHVILLE-LinkedIn's newest offering aims to come to the rescue of talent acquisition leaders prodded by the C-suite or the board to support the company's hiring strategy with data.