February 19, 2022

Workforce and Talent Development Tools: How do they help you?

Workforce and Talent development tools may be a new feature in your scope of interest and for your recruiting processes. That does not mean that they are not useful to you. In fact, they will set you apart from your competition, both in terms of productivity with clients and in terms of attracting talent to your business. After all, who does not want to work for a business that is on the top of its productivity game? 

In the next article of Talent2Win, we will not only talk about what a workforce or talent development tools are, but also about what platforms for talent acquisition are the best for you. 

What are workforce development tools? 

Generally speaking, workforce development tools are tools that are specifically designed to understand and fulfill the current needs of your company and to help you prepare for future needs as well. They have several different functions that depend on what you need and what you choose to invest in. 

Depending on the tool you are referring to, it can also help you to develop your current employees by understanding their existing skills and catering to their learning needs. This helps provide your employees a chance to grow in their careers.

If you can promise prospective talent the opportunity to grow in their career and develop their skills, then you will attract better talent and keep them for longer. You will also increase their day-to-day career engagement, which is beneficial for your other employees.  

What are talent development tools and what are the benefits? 

 Regarding talent development tools, these are a vital cog in the machine that is a Human Resources department. In short, talent development tools are the processes that an organization uses in order to develop and assess existing talent in the company, helping to explore the performance and the potential of employees.

This, in turn, leads to a competitive advantage within the company. It also helps in the case of succession planning, playing an invaluable part in the balance of the age-old question: Should I promote internally or hire externally? 

The tools that you choose should help to capture the hardest and most complicated areas of the job and make them easier. The working world of today is hectic and fast-paced, so making the most of your development tools is making the most of your existing talent. Furthermore, you can use them for applicant tracking, expense reports, payroll, and so on. 

When it comes down to it, a good talent development tool will push your workers to grow to their best, and as it does so, it will encourage them to stay within your business. Because of this, a talent development tool should be considered an investment in your company, even if it the development tool is simply going out of your way to ensure that both managers and your Human Resources department are equipped to foster growth and nurse potential within their teams.  

You might also like: Why is cultural fit assessment important during the recruitment process?

Talent intelligence platforms: Who are the best? 

Talent Intelligence platforms

Now, let us talk about talent intelligence platforms. These are platforms that use artificial intelligence to streamline the talent acquisition process and to ensure that the results you receive from your hires are what you have expected to achieve. There are several options when it comes to talent intelligence platforms. Below is a quick summary of each of the major brands.  

  • SeekOut. SeekOut is a platform that builds tools through innovation with the end goal of ensuring its users can achieve a more efficient, effective, and of course, successful hiring process. It makes use of artificial intelligence and is adaptable according to your industry.  
  • Eightfold AI.  Eightfold AI is, as the name may suggest, a platform that utilizes artificial intelligence in a three-pronged approach: acquire, engage, and retain. Users have reported faster time-to-hire, lower cost-per-hire, better retention, and increased applicants.  
  • LinkedIn Talent Insights. LinkedIn talent insights help you to plan by creating a talent pipeline that will be ready for you when you need it. They have the rather unique advantage that almost every one of their 722 million users uploads their entire resume to the site. This means LinkedIn boasts over 12 billion data points and real-time data about both your company, your competition, and your applicants.  
  • Loxo. Loxo is a Talent Intelligence Platform that employs artificial intelligence recruitment automation software for finding the perfect match for you. Its applicant tracking system serves as the backbone to your recruiting business processes. Its huge talent pipeline contains 530+ million people across 95 data sources with verified phone and emails. 

As you may have noticed, all the above platforms make use of artificial intelligence. That is because artificial intelligence, particularly in the case of talent acquisition, is an invaluable resource. In talent acquisition, AI learns from previous data and so continuously offers you improved results and metrics. It is also a fantastic tool to have in the quest for equality in the hiring sector as it doesn’t discriminate based on things such as age, race, and so on.  

 While in an ideal world it is easy to say that every Human Resources department should have access to artificial intelligence platforms, the reality is not so simple. Unfortunately, most companies simply do not have the resources necessary to implement artificial intelligence platforms throughout their job. They’re expensive and they work best when you use them a lot, making them practically redundant for smaller businesses with lower hiring needs.  

However, if you make request the services of a talent acquisition company, it is likely that they will make use of one, or all, of these platforms and artificial intelligence. Making use of a talent acquisition company (such as Talent2Win) is a great way to access the benefits of these programs, without having to pay lengthy and pricey subscription fees. 

At Talent2Win, we strive to align your company’s business objectives with the best Talent Acquisition strategies available. If you want to learn more about the services we offer, do not hesitate to contact us.

Leave a Reply

Your email address will not be published. Required fields are marked *