Global talent acquisition teams are working relentlessly to identify and onboard the right candidates for target locations within stipulated budgets, at scale – swiftly.
Employers around the world across various industries, are going all out for the best available talent – often targeting the same pool. This has made the race for top talent real tough, around the world.
Traditional talent acquisition mechanisms often find it challenging to tap into the right target pools due to limited access to the global labor market data. Even with access –
- The insights lack the required depth.
- The manual data analysis is prone to errors and influenced by human bias.
AI-powered talent intelligence platforms are addressing this problem effectively.
They leverage global labor market data sets and provide talent acquisition teams with actionable insights and trends about talent distribution and the loaded cost of talent acquisition and deployment.
This enables enterprise talent acquisition teams to fast-track their talent acquisition workflows and support their organizational goals.
How AI-powered talent intelligence platforms help talent acquisition teams save hiring time and cost
Many global talent acquisition teams are utilizing AI-powered talent intelligence platforms to streamline their recruitment processes. Here’s what it provides:
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Access to global labor market data
AI-powered talent intelligence platforms analyze industry verticals, country-specific talent data, universities, companies, technologies, profiles of professionals, their skills, and more.
These insights help enterprise talent acquisition teams identify skilled candidates and make timely data-driven talent acquisition decisions that align with organizational goals.
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AI-powered talent intelligence platforms provide AI-enriched profile data
AI-powered talent intelligence platforms provide actionable, high-value insights to enable better talent acquisition strategy – instantly.
- Talent acquisition teams can quickly identify the most suitable talent pool with the right skills with a single click, accelerating the scouting process, and moving swiftly from candidate identification to evaluation.
- AI-powered talent intelligence platforms enable talent acquisition teams with precise skills matching and workload matching, leading to better fit and reduced hiring risks.
- The platforms provide insights into niche skills and work experience to enable talent acquisition teams to focus on candidates with valuable hands-on experience.
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Pay structure analysis for target talent
AI-powered talent intelligence platforms also offer robust cost modeling capabilities for talent acquisition, including detailed talent base pay analysis for multiple roles across different locations, onboarding, and training costs.
- With precise data on the expected compensation for various roles in specific regions, these platforms enable talent acquisition teams to make informed cost-effective hiring decisions and develop strategies that align with budgets.
If insights on these platforms show that certain roles are more affordable in one region than another, organizations can adjust their talent acquisition efforts accordingly.
- The analysis could extend to onboarding costs, factoring in the cost of living estimates in target locations.
With insights into training duration on the platform, talent acquisition teams can account for the training costs by considering the duration of training and living expenses of onboarded candidates during their training period.
With an understanding of base pay median trends, talent acquisition teams can fully consider the financial impact of onboarding and training new hires and align their talent acquisition strategies with organizational budgets.
Example of Driving Strategic Expansion utilizing AI-Powered Talent Intelligence
A Fortune-100 technology service company partnered with Draup for insights into talent availability with certain niche skills and their median pay at target U.S. locations.
The company utilized Draup’s AI-powered talent intelligence platform to:
- Conduct a cost conditions model by assessing eight key locations, including a detailed analysis of economic factors, talent availability, and local market conditions, alongside the median base pay analysis to determine cost-effective regions for talent acquisition and facility expansion.
- Expand their talent search beyond the initial eight target locations to identify ideal locations to expand their facility and acquire the required skills.
The company gained a deeper understanding of talent distribution and competitive positioning of locations including the intended eight, enabling it to consider adjacent locations to increase its potential skills pool size.
Draup has enabled companies like Pepsico, Randstad, Vodafone, Paypal, Pfizer, Intuit, and many more to understand ideal locations for them to elevate their skills pool required to drive innovation and growth.
