Thursday, January 9, 2020
By David Trachtenberg, CMO, Workforce Logiq
We’re sharing five takeaways each week on how our acquisition of ENGAGE Talent transforms hiring and retention strategies for global organizations.
Last week, we highlighted how ENGAGE Talent furthers Workforce Logiq’s future and vision. This week you’ll get to see for yourself what ENGAGE is all about.
1. Company specific data profiles for targeted recruiting and retention.
ENGAGE builds company-specific profiles for businesses – your competitors, peers, and own organization – based on more than a billion data points aggregated from over 40,000 sources including leadership changes, macroeconomic trends, company-level social media and news sentiment, employee churn indicators, and more – to predict the likelihood of an employee being interested in external job opportunities or unsolicited recruiting messages. Employers can leverage these profiles to examine employee volatility and target recruiting efforts. These profiles can also be used by HR leaders who want a better pulse on retention risk within their own workforce.
The patent-pending Talent Retention Risk (TRR) ScoreSM, one of the key data points within these company-specific profiles, is the crown jewel of what ENGAGE offers. You can see the TRR in the top middle section of the above image. The TRR is a benchmark for employment volatility that reveals likelihood of workers’ interest in exploring other jobs and openness to unsolicited recruiting outreach. The ENGAGE 5DSM profile predicts the optimal candidate-specific workplace attraction characteristics, enabling organizations to tailor recruitment and retention messaging based on the unique attributes most likely to optimize job appeal, including company environment, organizational stability, strength of leadership, and opportunities for growth.
2. Customizable candidate search to identify those most likely to engage.
For recruiters looking to fill a specific role, ENGAGE easily narrows the talent pool. This example shows how this recruiter was able to discover software engineering candidates in San Francisco where its new office is located. The user can also drill down to candidates with Python skills and who are most likely to engage with recruiters. Recruiters and hiring managers save countless hours sifting through resumes by quickly compiling a list of qualified candidates who are willing to explore and accept new job opportunities.
3. Compensation data insights to offer competitive rates.
In keeping with the software engineering example, this recruiter can also leverage ENGAGE’s compensation insights to make sure they’re making a strong offer. By drilling down into average compensation rates in specific states, cities, and towns, recruiters can better understand the regional compensation differences for engineers across the country and ensure the salary they are offering is attractive to candidates. Hiring managers who are not limited by geography can use this intelligence to understand where they should hire to get the most cost-effective workforce.
4. Candidate specific data profiles for optimal recruiting strategies.
ENGAGE’s candidate profiles offer detailed insights on prospective talent. AI-generated reports on relevant work and education experience, skill sets, contact information, and what they value in a work environment enables hiring managers to target their recruitment messaging in a more personalized fashion. The candidate profile also identifies other potential candidates who may be a good fit for a role based on similar skills sets or work history.
5. Automated candidate specific email templates that maximize open rates and responsiveness.
Candidate outreach is much easier with ENGAGE’s candidate-specific email templates, which take the guess work out of the initial touchpoint. Based on this candidate’s 5D profile, ENGAGE has identified several recruiting messaging options that focus on company resilience and stability. Considering this candidate is highly likely to engage with recruiters, the platform has developed another message option which focuses on Sarah’s openness to new opportunities. From here, recruiters can message candidates right through the platform and customize those messages accordingly – these tailored messages tend to be well received by targeted candidates – typically achieving open rates of over 50%.
Read our previous 5 for 5 post around how ENGAGE Talent furthers Workforce Logiq’s future and vision.
Want more? Visit the ENGAGE – Workforce Logiq Welcome Center and check out the interactive infographic – “In-Play or At Risk?” – which showcases ENGAGE’s Talent Retention Risk (TRR) Score and ENGAGE 5D Profile for all U.S. states.
Ready to take the next step? Request a personalized demo to see ENGAGE’s predictive market intelligence in action.