Professional network LinkedIn has launched Talent Insights, a data-driven analytics tool for talent. The tool offers users two reports – Talent Pool and Company – to help businesses make informed decisions about recruiting and workforce planning, and metrics on peer companies in the industry.
The business intelligence tool offers data and ensures actionable insights by harnessing real-time updates by tapping into the network of 575 million professionals, 20 million companies, and 15 million active job listings. This tool is accessible across various regions, industries and levels within an organization.
A Clear Picture of LinkedIn’s Talent Insights
Elaborating on the report, Eric Owski, head of product for LinkedIn Talent Insights revealed the Talent Pool can offer an analysis report on a specific talent population:
How many professionals are within a talent pool and at what rate it is growing year-on-year.
Of a given talent pool, how many professionals have changed jobs in the last 12 months and how many job openings are there currently for this talent.
At what rate is the talent pool growing, geographically.
An insight into hiring demand based on the number of inmails that professionals sent to others from a talent pool.
An insight into the top employers within the talent pool and how fast it is growing within companies.
Owski also offers insights on what the Company report can offer data on:
How a company’s workforce is distributed globally and its fastest-growing locations.
How a company’s workforce is distributed by title or function and the fastest-growing functions within the company.
A company’s hiring and attrition rate.
Owski said Talent Insights was distributed among more than 80 customers and users at multiple levels in talent organizations to ensure it fulfilled the three priorities LinkedIn set for the tool:
Deliver data on demand
Offer HR leaders and hiring managers the ability to answer complex talent questions within minutes.
Make the insights actionable
Ensure that anyone can read the data. One doesn’t need to be a data analyst to interpret the data.
Deliver real-time updates on LinkedIn
Provide the most accurate data on labor market trends at any given moment.
Talent Insights is LinkedIn’s first foray into business intelligence, a branch that aims to help enterprise users make more informed business decisions. While the professional network has launched a number of others services in the past, it is yet to prove itself as more than an IT productivity tool. LinkedIn has included a way for users to look at and plan travels to potential jobs; integrations with Microsoft Suite including resume building in Word and Outlook integration that allows one to extend business corporate directors with LinkedIn.