Google might disagree, but LinkedIn is the gold standard when it comes to people data. There are a lot of sourcing tools that beat their chest about the tens of millions of resumes they have, but at almost 600 million professional profiles, LinkedIn is only overshadowed by Facebook, which doesn’t really do professional profiles, or at least not like LinkedIn.
And where there’s big data, extraordinary analytics usually follows.
That’s where LinkedIn shines. The release of Talent Insights put the world’s largest professional network on a different plain when it comes to metrics. Not only does it have the data to pull it off, but it has the core competency around employment to give customers real strategic insight into recruitment.
Not to be outdone, sourcing solutions are sure to follow LinkedIn’s lead and provide insights of their own and help companies measure recruiting effectiveness better in order to stay competitive. That’s why Hiretual, a popular sourcing tool that helps recruiters find and manage candidates from a database it claims numbers at 700 million, has launched Market Insights and Candidate Personas.
͞”Hiretual’s new Market Insights and Candidate Personas enables a type of ͚augmented intelligence between human and machine,” said Steven Jiang, CEO and co-founder of Hiretual. “This level of transparency will help recruiters better understand how AI-powered search operates and also empower them to create more successful candidate searches faster than ever before.”
How the two new features work:
As a recruiter enters candidate search information and selects details about a specific search, such as common job titles, skills, industries, locations, and experience, Market Insights immediately starts to populate an employer’s talent pool with relevant profiles. Insights also helps recruiters build and export a report on the talent pool for a specific job search, helping them communicate the availability of talent to hiring managers. Think of it like Kayak for candidate search.
The Candidate Persona functionality promises to give recruiters real-time insight into how Hiretual’s solution, which it labels AI, is interpreting a candidate search request. It does this by revealing how the talent pool increases or decreases in real time depending on the titles, skill sets, and other search criteria a recruiter enters.
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The 2021 Recruitment Marketing Benchmark Report
The company believes it goes far beyond Boolean search, using natural language processing to understand the intent of each candidate search and then extending the search to include appropriate terminology associated with the intent. As a result, it says recruiters gain a greater understanding of how its AI is performing and how the inputs they enter impact the talent pool size for specific candidate searches.
Silicon Valley-based Hiretual says the new offering creates augmented intelligence between human and machine and give recruiters a deeper insight into how its AI interprets candidate-sourcing search requests, enabling it to build a stronger talent pipeline and find the candidates they seek faster.
Jiang told me the new features will not impact the current pricing structure around Hiretual, or lead to any immediate price increases. It’s all included.
Ultimately, the move to develop analytics around data by sourcing tools like Hiretual is a natural evolution of the market. The days when these services can thrive on finding people alone is dwindling. Microsoft buying Github, alone with already owning LinkedIn, means sourcing tools can’t thrive on finding tech talent alone anymore either.