Last year, Microsoft bought LinkedIn for $26.2 billion. One of the primary motivations behind the purchase was to obtain massive data from the platform. LinkedIn boasts of having millions of working professionals, job seekers and companies as members. Using all of the data in a more “insightful” manner, the company announced its newest offering: Talent Insights.
Talent Insights has been designed to generate a return on the massive data in a more direct manner.
LinkedIn Talent Insights provides a visual interface that enables users to access a breakdown of different worker segments, starting with their own companies’ personnel. The service can display high-level statistics, such as the number of hires made in a given period, alongside more detailed information about areas that hold interest from a recruiting standpoint.
Most notably, the console shows where employees go when they leave. This feature enables companies to assess the extent to which rivals are poaching employees and check where they stand the other way around as well. For added measure, Talent Insights distills the individual departures into a panel that shows the employee groups with the highest attrition rates. The data from the service could help an organization take more timely action when a certain division starts experiencing personnel issues.
Talent Pool reports aim to give recruiters insights to answer these key questions:
• Where does this talent live?
• What companies and industries does this talent work in?
• How difficult is it to hire the talent you’re looking for?
• What schools are producing this talent?
• How is this talent engaging with your company on LinkedIn?
“Users can expect a fairly comprehensive picture of the labor market,” said Eric Owski, LinkedIn’s product chief. “Eighty percent of the global professional workforce is represented in some way.”
During a live demonstration of Talent Insights, Owski showed how human resources professionals can use the product to explore “labor market trends how talent flows between companies.”
With a few clicks, it generates straightforward yet data-rich reports that reflect the current state of the labor market, helping users make strategic decisions about hiring and retaining workers.