Talent Data Platforms Supercharging Recruitment Initiatives
Recruitment technology has come a long way since the days of being centered around job applications. Today’s workforce planners are equipped with modern CRMs that enable proactive sourcing and helps to prioritize engagement and user experience.
However, the disarray in talent pools thanks to COVID-19 and sky-high attrition rates has shown enterprises that recruitment innovation should continue unhindered if we are to bridge the looming talent gap.
Today’s talent teams require a recruitment solution that helps them execute workflows and predict adjunct workflows that the business might require in the future.
The answer is both simple & complex — Data-driven recruitment.
Simple, because data-driven strategies are at the core of every enterprise initiative, it should not be hard to incorporate the same into recruitments.
Complex because this data lies on disparate corners of the internet. Scraping them and making sense of it all is easier said than done.
Making sense of Talent Data
Over the entire recruitment process span, talent teams can mine crucial data that reveals whether or not a candidate will be the right fit for your role. To do this, they need to unify the multiple data streams stored across various talent tools.
The average enterprise uses as many as 15 different technologies in recruiting. And each of these technologies uses its own database architecture and protocols.
Why is this important?
Because when all this data is cleaned, integrated, and fed to the right machine learning model, critical talent insights can be extracted at a minimal cost.
Furthermore, enterprises can even move shed light on recruiting ROI across business verticals, locations, and even microsegments.
The age of talent platforms powered by data
All the data collected — from brand-building exercises to chatbots, events, and application tracking systems — need to be integrated into one place.
However, executing this integration is wholly unrealistic. What’s more likely to happen is that third-party vendors will come up with tools that offer varying levels of integration.
This only serves to fragment our data integration problem further!
Instead, the need of the hour is a talent data platform.
A data platform is defined as “an integrated technology solution that allows data located in databases to be governed, accessed, and delivered to users, data applications, or other technologies for strategic business purposes.”
In much the same way, Talent Data Platforms combine the best of the talent acquisition stack and acts as a single source of truth for talent-related information.
Here are a few important insights that a typical talent data platform could provide:
- Ecosystem analysis — Evaluate global talent ecosystems and unearth emerging hubs for over your job roles of interest.
- 360-degree talent analysis — Delivers data and insights that go beyond univariate metrics and holistically tracks organization, locations, and profile pedigrees.
- Adjacent talent pool — Provides valuable data that will help you bypass talent deficiencies by identifying “upskillable” profiles.
- Dissect job profiles — These platforms help talent managers identify nuances across related job roles, evaluate relevant personality requirements, and provide data to make efficient hiring decisions.
- Reskilling — Perhaps the greatest benefit of talent data platforms is that they can deliver comprehensive data-backed insights using which enterprises can build their entire reskilling strategy.
A one-stop-shop for talent data
Talent stakeholders at top enterprises are earmarking a significant share of their budget to invest in talent data platforms. When making such a move, it is important to know the platform’s level of data integration.
For example, Draup for Talent offers unprecedented access to real-time talent metrics across 2500+ locations and 4500+ job roles. In addition to a dashboard populated with key insights on mapping career evolutions, talent intelligence data, global peer analysis location-wise & vertical-wise, the platform also offers access to the proprietary Reskilling Navigator tool.
