Market intelligence in hiring includes the tools and techniques used to uncover data in relevant areas:
- Industry trends
- Salary benchmarks
- Talent availability
- Competitors
- Candidates
This data helps develop a comprehensive hiring strategy to support business growth.
Resources to Access Market Intelligence
Market intelligence tools can be used with the following resources to uncover data-based insights for hiring:
Industry reports
Industry reports provide insight into current market trends, challenges, and opportunities. These reports support understanding the current market and the skills required to navigate industry trends.
Talent migration patterns
Talent migration patterns identify regions and industries with high concentrations of top talent. Understanding where talent is moving and why supports alignment with future hiring strategies.
Compensation data
Compensation data provides role-specific income ranges and bonuses to determine how competitive a company’s compensation is with industry benchmarks. This data affects hiring strategies for top talent.
Discover the role of market intelligence in successful hiring.
Market Intelligence Tools Identify Talent Trends
Market intelligence tools uncover talent acquisition trends to conduct targeted candidate searches:
- Market intelligence tools pull relevant insights into candidate skills and qualities that align with the role and company.
- The data can be used to understand the changing need for diverse skills within the industry.
- Understanding which skills are or will be relevant at a given time helps align talent acquisition efforts with current and future hiring needs.
Market Intelligence Tools Analyze Competitor Hiring Strategies
Market intelligence tools can monitor competitors’ job postings to uncover their hiring priorities and valued candidate skills. These tools also can track competitors’ leadership changes that could lead to changes in strategic direction. Understanding competitors’ activities provides insight into industry benchmarks and talent expectations that impact current and future hiring strategies.
Market Intelligence Tools Uncover Competitors’ Goals
Market intelligence tools provide publicly available information on competitors’ long-term goals, progress, and market positioning. For instance, the tools can be used in public announcements and press releases to uncover competitors’ mergers and acquisitions. This information can be used to develop company goals and respond accordingly.
Gain Market Intelligence for Successful Hiring
UNITY’s deep understanding of the Texas job market provides valuable market intelligence to guide your hiring strategies. Get started with us today.
