LinkedIn, the Microsoft-owned social network for the working world with some 500 million members, has made a large business out of recruitment — with some 11 million job listings on the site at any given time, and the recruitment market providing the company with its largest source of revenue.
Now it is taking another step ahead in building out that business with a new product: LinkedIn Talent Insights, a self-service, big data analytics product that will let recruiters make deeper queries into statistics for hiring and employment, based on LinkedIn data.
Talent Insights is being announced in a closed beta today at the company’s Talent Connectevent, with a full launch in 2018. It will be a paid product, Eric Owski, LinkedIn’s head of product for talent insights, tells me, although pricing will not be made public until it’s generally available next year.
Talent Insights will come, initially, with two views, called “Talent Pool” and “Company report.”
The first of these will let recruiters search on different parameters related to specific jobs that they may want to fill — for example, a typical kind of search LinkedIn envisions might be used here is, what schools are producing the most successful data scientists or natural language processing engineers; or which industries (or companies) have been recruiting the most computer vision specialists.
The Company report, meanwhile, will provide a similar kind of dive but into recruitment patterns at your own company and your competitors — including a look at what skills are growing the fastest and which cities employees are living in. The idea here is not to simply gain competitive intelligence but to improve how you are approaching recruitment yourself.
LinkedIn has made a couple of acquisitions in the past of recruitment startups — specifically Careerify and Connectifier — companies that have built big data solutions to approach the process of hiring and searching for good people in a more modern way. Some of that expertise has already started to make its way into LinkedIn products, and I suspect some of it is coming through here, too.
But this doesn’t appear to be a replacement for searches of specific candidates. Rather, it’s a tool that will sit alongside the search features that LinkedIn already provides (a basic search for free users, a more enhanced one for premium subscribers, and the full-monty for those who take the top subscription tiers in LinkedIn’s membership plans), and provide more high-level insights into hiring trends at your own company, at other companies, within industries, professions and geographic locations.
“I think talent leaders will be the audience for this product,” said Owski, “professionals who have visibility into the day-to-day operations but also have a role to play in strategic planning, and to align a company’s talent strategy with its business strategy.”
It sits alongside other products and features that LinkedIn has been building out to help connect the dots between users and jobs and recruiters a bit more, such as Open Candidates, a way for users to quietly signal to the world of recruiters that they are open to considering new jobs, without letting people at their current organization or any others for that matter know what they are doing.