How Does Workforce Intelligence Help the Hiring Process?

by Revelio LabsMarch 14, 2023

Revelio Labs uses workforce intelligence to compile public workforce data into reports that are easy to read and understand. Information from these reports can help investors and business owners understand their businesses on a deeper level. The information can be used to improve many business processes, including your hiring process. An effective hiring process can help a company attract and retain top talent, improve team performance, and ultimately drive business success.

Workforce Intelligence and the Hiring Process

A better hiring process can lead to a better, more well-rounded workforce that can help your business grow and succeed. Here is how information from Revelio Labs can help your business with the hiring process:

Identify Qualified Candidates

Workforce intelligence can analyze resumes, online professional profiles, and social media accounts to find candidates that match your job description. Revelio Labs can help you cut down on the time it takes to find and recruit candidates and can help bring you the top candidates with the right skills and experience.

Our reports can also help you determine the types of candidates that you should hire. Revelio Labs can tell you the top skills found within your business and your competitor's businesses. If your workforce doesn’t have enough employees with a specific skill, you can start prioritizing hiring people that have it. You can also assess the educational backgrounds and amount of experience of your competitors' workforce.

Streamline the Process

Improving the efficiency of your hiring process can reduce costs and help your company find and retain candidates. Workforce intelligence can sift through resumes and help identify candidates that recruiters should reach out to. This saves recruiters valuable time and allows them to spend more time interviewing and onboarding new employees. The software can also help determine processes that could be automated.

Reduce Bias

If your company prioritizes diversity and an inclusive workplace and hiring process, then workforce intelligence can help reduce bias during the hiring process. Workforce intelligence does not have bias and only uses data to determine whether a candidate is qualified for a job. Using this data, businesses can reduce human bias during recruitment. If a candidate has the qualifications you are looking for, then workforce intelligence will flag it so you can take that applicant into consideration.

Analyze Competitor Trends

Revelio Labs can also analyze your competitor's trends. Our monthly reports can help you identify when your competitors are hiring and the types of candidates they are hiring. You can then continue to monitor their progress and success regularly to determine whether certain strategies were worth their time. Comparing your businesses to your competitors and using their data to make informed decisions can help you improve your hiring process.

Improve Retention

Workforce intelligence can improve retention rates. If you can lower your company's turnover rate, then you can reduce the amount of time spent on hiring new talent. The time and money that is saved by retention can then be used to train employees or further improve new employees' experience. The software can also help improve retention by tracking attrition. If you notice that your company has a high turnover rate, it can indicate poor training, poor company culture, or other causes. With Revelio Labs reports, you can be aware of your company's retention rate and take actionable steps to improve it.

How Revelio Labs Gathers Information

We gather all of our workforce data from public online sources. Some of the places that we use to gather information on employees include:

  • Reviews. We use both current and past reviews written by employees, including typed reviews and scores.
  • Professional profiles and resumes. Online professional profiles often include dates of employment, education, skills, and experience.
  • Job postings. Job postings that candidates have applied for in the past can help show previous jobs that the candidate was interested in and provide insight into their potential skills and qualifications.
  • Government data. Government data can show information like census data and social security. Labor statistics, such as job descriptions and salaries, can also be included.

We have access to and use data that goes back over a decade. Because we have a large data set, we can provide accurate and useful information. This large timeframe also allows our users to see market trends throughout the last several years.

Use Revelio Labs To Improve Your Hiring Process

Revelio Labs uses workforce intelligence to deliver monthly reports on millions of businesses. You can learn more about your business using workforce intelligence and analyze your competitors' actions and corresponding results. The employees working for your company can play a large part in your company's success, so creating an effective hiring process can help you meet your goals. Workforce intelligence can help you recognize areas for improvement, attract and retain top talent, and improve your bottom line. To learn more about Revelio Labs and our monthly workforce intelligence reports, request a demo today.