Why “Heat MAP’s” are a valuable part of Talent Intelligence
Today I am going to focus on just one piece of Talent Intelligence, why it is important, and how it can be used to benefit Talent Acquisition/HR Teams. Companies across the globe are constantly trying to get ahead of the competition by identifying the best of the best when hiring talent. They spend billions on advertising in hopes to attract the right talent. A high percentage of these companies will post jobs, rent billboard space, advertise on the radio, TV, and newspapers. However, when they do these things, they typically don’t produce the results companies are looking for to attract the talent needed. Most because there is little to no research done on the target audience who have the skills sets needed. Instead, the thinking is around posting ads to the local area around the location of the office, plant, or facility with the need. The majority of their positions, approximately 70-85%, this will suffice. For the 15% of their pivotal and hard to fill positions this simply will not do.
Here are three reasons why Heat MAP’s should be used in relation to the pivotal and hard to fill positions:
1. A Talent Intelligence heat map allow the Talent Acquisition/HR Teams to paint a picture of where their money can be spent on digital media or other such avenues to increase the odds of attracting the right fit for the position. If you take the approach and advertise in locations A, C, E, and G only to later find out that your real targets were in B, D, and F, you have wasted time, money, and effort on the wrong locations. A heat map can tell you specifically where the largest populations of the skill sets are located. This information is also real time allowing you the most relevant and up to date data.
2. Heat Maps also give you a picture of the competitive nature within a specific geography, allowing you to do additional research in areas of high concentration which provides greater understanding on who is in the targeted market is competing for the same skill sets. Understanding the market and what your competition is doing can give you the advantage on how to make strategic decisions around each unique area. So you may want to use a completely different campaign/strategy in Springfield, IL versus Columbus, OH.
3. Heat Maps within Talent Intelligence can identify up to 90% of the talent you need to hire. It points you in the right direction where take action and it gives you the vast majority of people that fit the basic qualifications that you need to hire. This ensures that you are taking the right measures to reach the bulk of the people that you need. If you are just trying to attract the talent you need in your local market, there is a good chance that you are targeting less than 5% of the people that a heat map will identify. Not to mention of that 5%, you might only reach 1% depending on the type of media you use. Now if you have a mandate to only recruit local candidates, heat maps can be developed for specific towns, cities, and states to still identify 90% of that local market and shed light on where they are located.
With the ever increasing demands on corporate Talent Acquisition, every penny/pence spent has to be effective in achieving the overall business goal of bringing on the best talent fast. Taking the time to understand where the talent is located can save you time, money, and diminish your risk when recruiting.