By 2030, the global talent shortage will have reached 85 million people, resulting in roughly $8.5 trillion in unrealized annual revenues. A talent gap of this size leaves little to no room for hiring errors. As a result, your search needs to be precise, methodical, and well mapped.
Where Sourcing and Competitive Intelligence Meet
By combining market research with internal hiring needs, talent mapping is where sourcing and competitive intelligence meet. Essentially, talent mapping is the visualization of your organization’s current and future hiring needs, your competitor’s employment setup, and the talent pool of your market. Combining these three elements provides your company with an overview of what’s happening in both your organization and the market, making it a critical tool for planning medium or long-term talent acquisition. Yet, it may be one of the most overlooked techniques in the world of talent acquisition.
During a recruitment process, our first instinct may be to look outside of our organization to fill roles. But before you even start recruiting your next backend developer, the best place to start is actually within your organization.
If you are actively recruiting for open positions, you likely have your organizational chart handy - and now is the time to pull it out and start identifying potential talent gaps, training needs, and even potential employees who are at risk of leaving your organization. Having a thorough understanding of your own organization is critical for the prioritization of recruitment efforts and a proper internal assessment is absolutely necessary before you can even start thinking about where or how you will find your new hire. Management tools, such as the 9 box grid tool, can help you organize your internal assessment and subsequent hiring actions before moving on to the next phase of talent mapping.
Click here to download the grid.
Understand the Competitive Landscape
Once you have a hold on your internal needs and employee development, you can start looking externally to your competitors. While much of this information may be confidential, a bit of research can reveal insights into their organizational development and potential hiring needs.
For example, image your competitor announced that it is launching a new product or service offering that is similar to the one you will be launching. It may be the case that they already have the talent needed to carry out this project, but it may be that they will need to ramp up hiring efforts to carry out its execution. If this is the case, it is likely that you will be competing for the same talent to help bring this project to life. Also, try to consider how a competitor’s job titles differ from yours. Even if they have different or similar titles, take a closer look at the requirements and qualifications to determine how much your role and theirs align. To avoid losing the best talent to your competitors, engage in recruitment-oriented market sensing to better understand how your competitors are evolving from a human resource perspective.
Tap into Passive Candidates
The final component of talent mapping takes a closer look at the market itself. More specifically, it requires looking into the skills of your talent pipeline and assessing how ready available candidates are to meet your hiring needs. If you work within the tech recruitment space, it is likely that the current talent pool will fall short of meeting your hiring needs. As a result, you will need to judge to what extent you will need to proactively source passive talent and the best ways to build your talent pipeline.
In short, talent mapping compiles mass amounts of information in one place. Although helpful, so much information can quickly become overwhelming. As a result, it may be best to visualize all of this data in a way that is easy to track and understand. Some use a spreadsheet to carry out talent mapping, but as the industry grows, competitors multiply, and your hiring needs evolve, using visualization tools might provide a more comprehensive and user-friendly insight into talent mapping. You might want to look into data visualization tools such as Tableau or Infogram.
If you are curious to learn more about ways to improve your sourcing efforts, check out our resources page to for more insight into tech recruitment!
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