The HR recruitment activities include creating job requisitions, posting them on job sites, and going through a massive pile of applications to choose the most qualified ones that add value to the organization. Some employers use structured interviews, while a few had a custom-made process to assess the talent of the applicants.
In today’s modern world, HR recruiters rely on the power of recruitment tools for workforce planning. These tools help for end-to-end planning process. A Talent Intelligence tool helps organizations to make strategic decisions for workforce planning and recruitment activities. Talent Intelligence is designed to gain a comprehensive picture of individual talent levels using labor-market insights. Businesses need to understand labor market trends and make informed decisions with respect to top skills, salary benchmarking, job roles, etc.
Benefit of Using Talent Intelligence Tools
If you are still skeptical then let’s understand the importance of TI in recruiting.
Less time is spent on hiring talent
Talent searches are time-consuming and risky for an organization in a couple of ways. For example –
- Key projects get kept on hold, and if reassigned to another team then their work gets interrupted, and this damages productivity.
- If talent is already available and accepts your offer within less than 10 days, then it often turns out to be a wrong hire decision as that was made hurriedly to fill the position.
Talent Intelligence allows HR to spend less time on hiring by providing the detailed insights to make data-driven recruiting decisions. In addition to saving time, it helps to reduce the overall expenditure on workforce planning as you don’t need to rely on other third party companies to structure your recruiting activities.
Great internal mobility
Keeping an eye on internal talent to fill a position based on performance is a low-cost way of recruiting than hiring externally. Organizations fail to check internal talent because their HR team does not have the knowledge and resources to detect high-fit talent. Therefore, labor market insights helps to understand the average compensation and top skills of every employee to shortlist qualified internal talents.
Find Top Skills for Upskilling Employees
With the help of labor market analytics and talent intelligence, you can easily find the top skills trending in your industry. Thus, you can take appropriate action to encourage and upskill the promising internal talent. It helps to create a more engaged, secure, and dynamic workforce, and that helps to significantly boost organization’s objectives.
Enhanced diversity
Companies with a diverse workforce outshine in every business area, ranging from innovation to salary and employee satisfaction. With a diverse workforce, several organizations are unable to recognize the qualified talents for an open position. Talent Intelligence tool eliminates the obvious bias from the initial phase of the talent search process, and evaluates candidates holistically, which increases diverse talent volume.
Employees are a valuable asset to any organization. So, the HR recruiter’s task of adding more value by choosing a skilled workforce is reduced by using the TI tool. Labor market analytics has revolutionized the way to better plan your workforce strategy.