LinkedIn launching new talent data tool, Talent Insight

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Jan 26, 2018 / by
LinkedIn launching new talent data tool, Talent Insight

Last October LinkedIn announced it will be launching its new talent acquisition site in mid 2018, Talent Insights. Using analytics to dive deep into big data, LinkedIn wants to bring corporations and start-ups alike information on talent pools, skill sets and other companies workforce composition.

Geared towards HR professionals, users will be able to make smarter decisions about sourcing, skill development, and retention. The system will also work alongside LinkedIn Recruiter, and will allow the sharing of information between project members.

LinkedIn CEO Jeff Weiner explained,

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. 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 being able to compare the skills of your organisation 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.

LinkedIn Insight’s main goal is to not just present raw data, but to present it in a clear and understandable way. Currently, HR can be drowned in raw data, and often have to rely on third-party personnel such a data scientist to process it all. Through LinkedIn Insights, a long drawn out process of meetings and consulting others will turn into a simple 10 minutes on your laptop. The data will be presents simply though graphs, maps, and easy to read numerical read outs.

LinkedInTalent Insights will come with two functions, “Talent Pool” and “Company Report”. Talent Pool will allow you to search based on certain criteria to fill a specific job, such as what school is producing the highest amount of successful people in the field you’re looking for, or what companies are hiring for said field. Company Report will give similar information but of your own company and its competitors, such as what skills are growing the fastest or what cities employees are living in. It will also provide tips on recruiting strategies and which direction is best in your current HR situation.

Eric Owski, LinkedIn’s head of product for Talent Insights and Talent Brand gave an example,

Maybe [the CEO] wants to know where you’re going to start looking for engineers since your local market is over-fished. Maybe they want to understand why attrition is skyrocketing on the sales team. Or maybe they want your input on where to open a new office based on hiring difficulty in different locations.

All the above data comes from the massive amount LinkedIn has acquired from over 500 million members, 11 million jobs, 18 million employers and 50,000 standardised skills. How accurate that data is however, and how inaccurate data could affect Talent Insights, is currently unknown.

Opening up the companies powerful data tools to the public is smart move, and one that should bring some interesting results for 2018.

Sources:

LinkedIn, Techcrunch, SHRM, Adweek

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