- A new service from LinkedIn promises to provide business with the data they need to spot industry trends and grow their businesses. LinkedIn Talent Insights is a new feature that capitalizes on the wealth of data the platform has at its disposal to reveal market conditions in real time, as well as forecast growth trends for industry and talent.
- Talent Insights is made up of two reports: the talent pool report and the company report. The former will help recruiters access important information like where talent pools are situated and which schools are pumping out high-performing workers. The latter can aid hiring managers in determining where company's win and lose talent and which workforce segments are at risk. Hiring managers and others in talent acquisition can use the data to see how they line up in the market with regard to competitive wages, where talent is being acquired from and lost to and how the market is shifting in their region and nationwide.
- Businesses can find skills and job categories emerging in their industry to see current and predict future need. For projections, businesses can cull the data to determine where growth into new markets will be challenging,
More businesses are realizing the value of big data and trying to capitalize on it in the workplace. A study by Paycor found almost half of HR professionals intend to be more "data-driven" in the next four years. As recruitment tools like LinkedIn's Talent Insight incorporate data, they will likely continue to change the way employers hire and evolve the way they retain, upskill and grow talent already in place.
One of the largest holders of recruitment data in the nation is LinkedIn. With over 550 million individual members, the company has over 26 million business members and 15 million active job listings. In January, the professional networking giant announced its expansion into e-learning through data. Using data from more than 500 million member profiles and billions of engagements, the site combined information from Lynda.com (which it had recently acquired) to determine the skills users needed, ultimately guiding them toward applicable material. The volume of data at its disposal has given the company the opportunity to analyze, predict and share massive amounts of information with businesses.
Outside of its work with data, it has also developed tools to help companies carry out recruiting with more efficiency, dolling out new features like video recording for business pages and voice messaging platforms.