If someone asked you to define talent intelligence (TI), could you do so quickly and easily?
If your answer is no, you’re not alone. In a 2020 survey conducted by Censia, roughly 75 percent of recruiters admitted to not completely understanding TI. This lack of understanding might explain why only 25 percent of companies have embraced TI as part of their hiring protocols thus far. Yet those recruiters who are using TI say they are able to spend 90 percent less time on tedious tasks like passive sourcing and resume reviews, and they are hiring higher-quality, more diverse candidates in half the time.
So what is talent intelligence? In short, it is the use of software powered by artificial intelligence (AI) in talent acquisition and talent management. TI helps drastically reduce the time talent professionals spend finding and evaluating talent while also improving the results of their searches. If you haven’t experienced the improvements TI can bring to your hiring process yet, here is what you stand to gain by adopting it, according to the recruiters who are already using TI to transform their jobs for the better.
81 Percent of Recruiters Love That TI Makes Their Work Easier
With TI, recruiters are able to drastically reduce the time spent on the most cumbersome aspects of their jobs. Gone are the days of weeding through hundreds of resumes or spending hours doing passive sourcing online. TI platforms create sophisticated talent models based on top performers already in the organization (or in another organization) and then use these models to conduct an instant search of applicants. The technology can even apply the search to internal employees, previous applicants, and passive talent in an organization’s applicant tracking system to ensure the right candidate is surfaced and delivered, no matter where they are.
As one of Censia’s customers put it, “Talent intelligence leaves no great candidate behind!”
73 Percent of Recruiters Love That TI Makes Their Work More Efficient
On average, recruiters spend more than 20 hours per job opening screening resumes, 88 percent of which ultimately turn out to be unqualified for the job at hand. With TI, those resumes are scored and ranked automatically so that recruiters can focus their attention on applicants who have already been vetted and found to be great fits for the current job opening.
73 Percent of Recruiters Love That TI Helps Them Find Better Candidates
If you only source from candidates actively applying to your job openings, you may find decent options, but you’re not tapping into roughly 90 percent of the talent pool, which is filled with high performers who are doing great work for your competitors.
In the past, recruiters had to accept this as a simple reality. After all, no one had the time to go look at every last candidate out there. Instead of seeking out the best candidates they could find with their limited resources, recruiters were often forced to accept those who were “good enough” to fill the role.
With TI, it doesn’t have to be this way. Censia’s TI constantly maps the talent landscape, made up of more than 2,000 professional sources, to uncover the best talent. Censia searches through applicants, current employees, and over 500 million professional profiles online to help you identify candidates who are truly that perfect match you’re looking for.
72 Percent of Recruiters Said the Best Part of TI Is That It’s an Asset to Their Work
When you have a tool that eliminates the most tedious aspects of your job, helps you identify the best possible candidates (regardless of whether they’ve actively applied), increases diversity, and scores and ranks candidates for you, you’re going to quickly come to view that tool as an asset.
This may be why 90 percent of recruiters believe TI will revolutionize recruiting.
Censia and Recruiter.com are teaming up to bring talent intelligence to more recruiters with a new partnership. Now, recruiters on the Recruiter.com Job Market Platform can leverage Censia’s TI to build ideal candidate models, access millions of candidate profiles, and use AI to qualify candidates and match them to jobs.
It’s just a matter of time before all recruiters embrace the benefits TI can provide. Will your team be ahead of, or behind, that curve?
Visit https://www.censia.com/resources/2020-benchmark-future-of-work-survey-report/ to download the 2020 Trends in Talent Intelligence Benchmark Survey today.
Jennifer Thomé is head of content marketing at Censia Talent Intelligence.