What is Talent Intelligence?
Talent intelligence is an umbrella term that encompasses the wide variety of data-powered tools and processed that enterprises leverage to extract insights from talent data. This, of course, only begets another question; what is talent data?
Again, there is no industry standard definition for this term. However, everything from ethnic diversity in a company to the no of data scientist talent available in a location comes under the ambit of talent data.
The point being that, by using this data, workforce planners can avoid most of the pitfalls that is typical for traditional talent management processes.
For example, consider a company that we will call ‘Company Inc.’ Company Inc has a diversity problem. By that I mean their talent all comes from the same background and this, in turn, considerably reduces the number of viewpoints that they have access to. There are other issues too that arise as a lack of ethnic or gender diversity. You can see how this problem is plaguing the BFS industry here.
As any manager can attest to, the more varied backgrounds your employees are from, the more diverse viewpoints you have access to, which in turn gives birth to innovative problem-solving capabilities.
So the question is, how can workforce managers hire intelligently to fix this diversity issue and other issues that crop up during the recruitment process?
Role of Talent Intelligence in Recruitment
Talent intelligence allows hiring managers to make better data-driven hiring decisions from a wide range of data that is farmed through technology. This data will help you identify where you stand on diversity, vis-à-vis, your industry peers and suggest locations/universities/ecosystems from where you can hire the right talent for your target job role.
But that’s not all they can do. Modern talent intelligence platforms alert businesses to competitive hiring threats, trends in future talent, or identifying urgent hiring needs far in advance.
That’s right. Thanks to innovations in the field of AI, Data Science & ML, modern talent intelligence tools are capable of delivering talent insights and ecosystems that workforce planners previously had no access to.
Let us take a look at what some of these key features are and how they help recruiters.
Must-have features for Talent Intelligence platforms
Strategic workforce planning: If you’re a HR leader eager to get the ball rolling in your company’s new location, data is your ally, especially, if this is a location where you previously had no presence in.
How exactly do you go about scouting for talent in a new location? How to know where to look and what to look for. And how do you ensure that this talent is diverse in all senses of the word.
Talent intelligence platforms can help you out here.
For example, it can help you first identify talent hotspots in your target location for the target role. It also provides data on how your peers are leveraging this talent at that location and for what purpose. If that’s not enough, you also have access to 360-degree talent analysis that let’s you shortlist talent based on parameters that go beyond traditional univariate metrics.
While they are key in the workforce planning stages, where talent intelligence tools really shine through is at the recruitment stage.
Recruitment: Now that we are in the actual recruitment stage, it is important to craft impactful job descriptions to attract the best talent. And what better way to do this than to rely on a platform that has playbooks to recognize the skills, tools and certifications required across 2,500+ job roles?
This is perhaps the greatest feature of modern talent intelligence tools. The near unlimited access to data they provide you combined with the machine learning models incorporated within them help recruiters.
But they go beyond that too.
Talent Intelligence platforms like Draup, also help you dissect job profiles by helping you to identify nuances across related job roles, evaluate relevant personality requirements and make efficient hiring decisions.
Draup comes with a proprietary Diversity Navigator tool that helps workforce planners avoid the most common diversity pitfalls when it comes to workforce planning.
Draup for Talent enables HR leaders and Hiring Strategists to dive deep into various trends in hiring and engagement to empower their recruitment with data.
The cloud talent intelligence platform also provides analytics across the entire spectrum of operations, finance and HR, and enables you to forecast your workforce planning cost-effectively.