Businesses know that finding suitable candidates and hiring them is neither cheap nor simple. The average cost per hire is around $56,770 a person according to a report published by the Center for Economics and Business Research (CEBR). Furthermore, within areas like health and finances, the mean time to find and hire for a position is between 44 - 50 days.
So LinkedIn has introduced new tools during its Talent Connect conference in Anaheim, California that attempts to streamline the process: Talent Hub, an updated Recruiter platform, and skills insights in LinkedIn Learning.
It’s pitching Talent Hub — an applicant tracking system — as a sourcing and hiring platform that ties together many of its existing products, including LinkedIn Jobs and Apply with LinkedIn. Through it, teams of recruiters can manage talent, collect feedback, and extend promising applicants offers, all the while collaborating via note-taking tools integrated with the Talent Hub dashboard.
In a briefing ahead of today’s announcements, Dan Reid, group product manager at LinkedIn, gave an overview.
Talent Hub is designed around a five-step flow, he said: (1) intake meetings, (2) source and distribute, (3) calibrate requirements, (4) interview candidates, and (5) offer. It starts with a job listing. Recruiters fill in key information about the role — i.e., salary range, hire date, and location — which LinkedIn uses to estimate which slice of its more than 550 million users might be a fit.
During the demo, Reid created a draft project for a “Media Marketing Manager” in the Greater Chicago Area. A breakout box to the left of the onboarding form showed the total number of LinkedIn members with a matching title, the subset of those who live within a specified geographic area (in this case Chicago), and the even smaller subset who met more specialized requirements.
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