What data is just waiting to be unlocked to support your talent efforts?
UNLEASH Product Spotlights look at products across the HR technology spectrum and are based on research and member input. Today we look at Hiretual’s Talent Data Cloud, which allows organizations and hiring teams to centralize, refresh and enrich data across their recruitment tech stack.
Built as a system of native integrations, the Talent Data Cloud seamlessly bridges data from Hiretual to 30+ partners including leading Applicant Tracking Systems (ATS) around the world.
Time to adapt and automate your talent intelligence
The state of work today, given the rate of intense digital transformation over the last few years, and accelerated disruption incurred from the pandemic, has shifted dramatically. And, what’s clearly intensified, as a result, is a huge skills deficit in the workforce, and a disconnect in hiring needs vs. available talent.
With areas like blockchain, e-commerce, and encryption experience in high demand, recruitment teams are finding it much harder to find talent in the first instance, let alone attract and retain these candidates too.
For any company that hires in-demand and hyper-specific technical roles like these, two major aspects are needed for scalable recruitment: access to a wide database of candidates and the capability to target searches with specificity across a wide dataset.
Research suggests that what you do in the backend can significantly impact your hiring performance as well. According to a recent PwC survey, 49% of 10,000 respondents turned down a job offer due to a bad recruiting experience.
If recruiters and talent leaders are too busy trying to source candidates in the first place due to a lack of in-house talent intelligence, they can’t spend the time nurturing and channeling this talent down the funnel – giving them those human touchpoints that candidates are after.
Automating and streamlining talent intelligence within an organization can empower sourcing and recruitment teams to have up-to-date information at their fingertips, allowing quicker outreach with warmer candidates and increased potential of finding candidates that competitors haven’t yet got on their radars through traditional sourcing methods and channels.
Sourcing talent: Turning old data into actionable data
In a recent Hiretual survey, they determined that of 750 talent acquisition professionals, that of the 3 biggest challenges they faced, sourcing talent came first – with 61% of the TA respondents flagging this as a challenge for them.
The report also highlights that sourcing time has increased. 40% of recruiters spent 15+ hours sourcing per week while 30% spent 4 to 9 hours. Additionally, 95% anticipate time spent on sourcing to remain the same or even increase.
Given that talent sourcing is the cornerstone of the recruitment process and essential for talent teams for having a robust talent pipeline, it’s understandable that the dedication to these efforts has evidently increased when confronted with the skill-specific talent shortages we’re facing. But, that’s not to say that it’s right to be taking up so many manhours. Just because it’s important, doesn’t mean it can’t be easier.
A successful, competitive recruitment strategy can’t exclude the need for developing a talent pool that’s available to internal recruitment teams, without data science experience, and that provides clean, up-to-date, and readily accessible information.
To win at talent sourcing, talent intelligence is vital. To convert a candidate, TA professionals can’t just cast a net to anyone in their database that matches a basic keyword in the job description. Information needs to be up-to-date, to save time researching everyone potentially relevant in their existing ATS(s) – if they are even in there.
A latent talent pool quickly loses its value and ends up becoming a list of names and nothing more.
ATS data enrichment
Hiretual’s two-way integrations create a centralized and holistic approach to top-of-the-funnel hiring, powered by up-to-date and an automated no-code data management system.
The two-way ATS integrations enable an instant and customizable exchange of candidate data between Hiretual and an ATS. Profiles imported into Hiretual are automatically refreshed and enriched with newly sourced talent intelligence from their 45+ open web sources.
Candidate profiles are updated into Hiretual Profiles which are equipped with contact information, predicted availability, average market value, and additional insights such as technical repositories and published work or patents. This allows teams to rediscover the right past applicants without AI Sourcing technology.
Hiretual is lightyears ahead of other sourcing vendors where there is no integration and someone would have to manually create a profile [in the ATS]. So we’re talking about two clicks versus having to type it out and put that data in which would probably take about seven minutes.
Sara W., Product Manager at leading IT consulting partner (10,000+ employees)
Candidate engagement: faster collaboration with quality, top-of-funnel candidates
The adage of quality not quantity isn’t just lip service when it comes to sourcing talent. Tailoring and segmenting sourcing efforts through talent intelligence is paramount.
Additionally, in a year of shifting employee and job-seeker behavior, organizations are rightly prioritizing talent sourcing strategies to drive impactful diversity hiring strategies. Diversity hiring is becoming less of an initiative and is finally being adopted as a core organic value in the recruitment process. Progression in managing and acting on past and present hiring data will transform how recruiters find and engage with underrepresented talent.
In a hyper-competitive job economy or even just when sourcing for hard-to-fill roles, talent rediscovery can provide a bounty of advantages for getting the best talent in. Not only can talent rediscovery efforts be good for sourcing teams in terms of finding talent quickly, but it can also mean a better experience for the candidate and thus conversion stats too.
Candidates who have already engaged with an organization’s brand are much more likely to be interested in a new role and internal talent rediscovery has its obvious benefits too.
With AI technology, recruiting teams don’t have to limit themselves to sourcing from one place, like LinkedIn or their ATS. Hiring teams can source from numerous platforms and filter through hundreds of thousands of candidates within seconds. As competition for talent increases, this combination of larger talent pools and efficient filtering will help teams beat out competitors for the top talent by having the best talent intelligence possible.
Hiretual’s Talent Data Cloud allows recruiters to leverage their AI Sourcing technology to search directly from existing talent databases. This includes:
- Using Hiretuals’ AI-powered search filters (such as General, Language, Diversity, Tech and more) for targeted sourcing on existing candidates
- Easily segmenting internal sourcing on Hiretual by ATS Jobs and ATS Stage
- Automatically ranking existing candidates by relevance to your search with Hiretual’s AI engine
The [Hiretual-Workday] integration has saved us a considerable amount of time, as the Sourcing team no longer has to add hundreds of resumes and screening notes to Workday manually every week. Additionally, this has created a significantly better experience for everyone on the Sourcing and TA teams as all candidate details are now accurately added to a Workday Req in a timely and efficient manner.
Martin Warren, Head of Talent Sourcing, Grab
Hiretual’s AI Sourcing drives external candidate searches across 45+ open web platforms and internal candidate rediscovery within existing talent databases.
AI can automatically synchronize candidate data across internal databases and external sourcing platforms to simplify talent rediscovery and ensure data hygiene. Additionally, in specific fields like healthcare and tech, AI sourcing refines searches across industry-specific platforms.
Competitive advantage: Cost saving, speed, and data-richness
According to Hiretual’s research, 66% of TA professionals introduced a new tool to their tech stack since the pandemic began, in a bid to combat hiring challenges in today’s job economy. This reinvented talent acquisition stack is usually made of multiple systems, each serving their own functions while collecting large volumes of data that end up siloed from each other during the recruitment process.
Aptly labeled the ‘50-lane talent highway‘, TA operations now present disconnected systems and processes with fragmented and siloed data with distanced and non-collaborative teams.
Talent intelligence is meaningless if it cannot be presented with visibility, scalability, and seamless integration. This need is intensified further as we see the dramatic uptick in organizations working with hybrid models. The accessibility of data and the need for remote collaboration are vital.
To remain competitive, talent teams need to be able to manage their talent intelligence in-house and do so in a number of clicks, not minutes.
No-code data management
Hiretual’s Talent Data Cloud integrations are built by their team with custom configurations to best match a hiring team’s workflow. These integrations automate manual data management processes such as the import and export of files, data deduplication, and custom field mapping for candidate profiles.
With its proven effectiveness, ability to integrate, collaborative capabilities, and more, AI is the optimal tool for TA professionals to succeed.
Hiretual empowers companies to elevate the quality of their talent sourcing and candidate experience with talent intelligence that spans across the hiring ecosystem.
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