A year after it was first announced, LinkedIn has finally launched Talent Insights, its business intelligence tool that helps organizations better understand the idiosyncrasies of talent and the other organizations they’re competing with for staff.
Talent Insights enables organizations to run two reports — a “Talent Pool Report” and “Company Report” — which, according to LinkedIn, will help organizations and recruiters:
- Optimize recruiting efficiency
- Understand labor trends — skill growth, attrition rates, hiring demand
- Competitive intelligence
- Understand how audiences are engaging with employer branding
- Identify markets with high supplies of key talent.
The Talent Pool report provides insights into certain talent: where they live, which companies they’re currently working at, their salary level. It also shows areas where there’s a big supply of talent, but little demand.
The “Company Report” tool was developed to help businesses understand who their competitors are for talent; with information like attrition rates, talent flow, skill levels, employee education, and so on.
But Eric Owski (LinkedIn profile), the head of product for Talent Insights and Talent Brand at LinkedIn, said companies can use the tool to make much broader business decisions.
“A fast-growing startup in the U.K. analyzed available talent pools in China to identify where they should open a new office,” Owski wrote in a blog post introducing the new tool.
“Intel used Talent Insights to inform their employer branding strategy in Poland, by getting insights on the best locations to place billboards near competitors offices.”
Talent Insights can also help companies understand skill gaps in their employees and the skills their staff will need in the future, using real-time data.