The world has evolved with technology, and businesses are doing their best to keep up with the emerging trends. One of the best practices to increase productivity is sourcing quality talent, and this can be easily done using recruitment tools. In addition, implementing talent intelligence in the recruitment processes has also played a key role in hiring the best candidates in the job market.

So, what is talent intelligence, and why does it matter in organizations? This article explains the meaning of talent intelligence, its benefits, and some of the top talent intelligence software in 2024 that will add value to your business. The vast knowledge will help both current and upcoming employers to decide if it is worth trying to meet their expectations and hire the best candidates.

What is Talent Intelligence Software?

Talent intelligence software is an online-based tool that provides solutions for hiring and engaging candidates, thus optimizing an organization’s objectives. The intelligence is based on candidates’ recruitment and talent management to filter out the best. It collects, combines, sorts, and analyses data on people and their jobs to help HR make informed decisions. Being AI-enabled allows the tool to focus on work history, performance, education, and other qualifications. 

Why do Businesses Need Talent Intelligence Software?

As mentioned earlier, talent intelligence tools emphasize AI mechanisms to surface talent insights. Including one in your company not only maximize your chances of hiring the best candidates but also helps your business in other forms, as listed below.

1. Keep up With The Emerging Job Market Trends 

It’s a no-brainer that COVID-19 affected the way businesses operate, and now that we are trying to bounce back, there are various emerging trends to keep up with. For instance, employers now realize that work can be done remotely and hire candidates capable of alternating between working from the office and remotely. On the other hand, job seekers are also looking for that flexibility. This is where a talent intelligence system can prove beneficial as it helps you stay ahead of the curve. By offering data, it will be easier for you to predict and plan for the emerging trends. The earlier you embrace such changes, the more productive your business will be. 

2. Make Informed Business Decisions

While talent intelligence data helps you analyze job applicants and choose the best, it also helps analyze the best performers in the business. As a result, you will be able to identify your employees’ strengths and weaknesses, making it easier for you to work on improving performance. 

3. Saves Money

Every procedure in the recruitment process costs money, and with talent intelligence tools, it is easier for you to optimize your recruitment strategy and save money. For instance, talent intelligence software can help you identify the best channels that attract quality talent, making you focus on those rather than the ones not beneficial to the hiring process. 

4. Increases Employee Retention

As mentioned earlier, talent intelligence software helps you get insights into employees’ performances and identify their strengths and weaknesses. In addition, you will easily know factors that contribute to high turnover rates and work on improvements before they affect your business performance. 

5. Identify Hiring Requirements

Talent intelligence tools help businesses know which candidates are to leave or retire from their companies. As a result, you can easily launch a recruitment campaign with a solid plan to find candidates with the required skills. 

Top 12 Talent Intelligence Tools for 2024

1. Fetcher

Fetcher is a leading talent intelligence software known for its AI-driven candidate sourcing capabilities. It streamlines the recruitment process by automating candidate outreach, nurturing, and scheduling interviews. With features like intelligent searching and customizable campaigns, Fetcher helps organizations connect with the right talent quickly and efficiently.

2. Manatal

Manatal is a comprehensive talent intelligence platform that covers the entire recruitment lifecycle. It offers features such as applicant tracking, interview scheduling, and onboarding. What sets Manatal apart is its user-friendly interface and the ability to integrate with other HR tools, making it a versatile choice for HR professionals.

3. Hiretual

Hiretual is a popular talent intelligence software that leverages AI to source and engage candidates from various platforms and databases. Its powerful search capabilities and candidate engagement tools make it a top choice for recruiters. In 2024, Hiretual continues to innovate with features like diversity sourcing and predictive analytics.

4. SeekOut

SeekOut is one of the most sought-after talent intelligence tools because it is trusted and fast in terms of recruiting qualified candidates. With the correct contact information, its artificial intelligence can source top candidates and engage them instantly. The founders of SeekOut use 32 technology products to make the powerful engine and ensure efficiency. Some of the technology products include google analytics, HTML5, and jQuery. To add to its advantages, the software conveys privacy and helps you source the best candidates in the market.

5. LinkedIn Talent Solutions

LinkedIn platform offers top talent products, including talent acquisition news, recruiting tools, and best practices. According to users, LinkedIn makes it easier for you to find, connect and manage candidates with an 80% working efficiency. It is undoubtedly reliable in recruiting. Furthermore, the software provides features of talent rediscovery, candidate modeling, and evaluation, thus presenting high numbers of candidates.

6. Eightfold AI

The talent intelligence system offered by this tool has boosted organizations’ abilities to retain top skills, reskill and recruit top talent efficiently. Eightfold AI consists of automated candidate evaluation, ATS integration, and diversity reporting. Additionally, it helps manage employees at work and staff the best candidates on the market.

7. TurboHire

Many organizations prefer TurboHire because of its ability to reduce the time and cost of hire. In addition, using the tool also means improving the quality of candidates you hire, as you will be able to get the right insights into the best hiring techniques. Furthermore, TurboHire makes interviews easy by reducing the manual effort of scheduling and promoting timely feedback submission. Finally, it provides data that recruiters can navigate to boost their recruitment and optimize their candidates.

8. HireUp

Many challenges come with hiring, and sometimes recruiters may not be lucky enough to get qualified candidates. HireUp talent intelligence platform helps identify talent, connections, and employee referrals. Moreover, it promotes faster hiring, thus reducing the recruitment cost. The software also streamlines interviews scheduling, communication management, reporting tools, marketing management, and employer branding.

9. Thomas International

Integration of psychology and business has always given a positive result. Thomas international platform helps you understand your candidate’s aptitude, behavior, and personality. This will help the recruiter know if a candidate will blend into their organization’s culture. In addition, the tool has proven to create a conducive, peaceful working environment hence increasing productivity and attracting other potential candidates to the organization.

10. Fuel50

Fuel50 delivers internal talent mobility and workforce agility, resulting in high employee retention and engagement. It also promotes diversity, equity, and inclusion in the entire recruitment process. In addition, one has the opportunity to get mentors who can guide them carrier-wise as it provides a networking platform for users.

11. Humantelligence

Culture is the backbone of every running organization. Therefore Humantelligence determines the entanglement between a candidate’s culture and that of the organization. The software also helps in policy formulation based on the needs of the employers. To achieve a high-performing culture, you need to assess and manage it by aligning cultural analytics and hiring candidates that can blend with it.

12. Crosschq

Crosschq platform provides insightful data to enable users to make quick and informed decisions. It is candidate friendly and employs ATS and DRM assessments, thus enhancing the retention of employees in the organization. In addition, Crosschq is user-friendly and customizable. It also sends notifications and reports so that you can quickly make the best hiring and business decisions. 

Talent Intelligence vs. Talent Management

Most individuals find it challenging to understand the relationship between talent intelligence and talent management. To give you a clear understanding, talent intelligence tools integrate with talent management systems. However, talent intelligence focuses on talent data analysis and providing actionable insights to HR professionals. With these insights, it’s easier for the HR personnel to perform various processes within talent management solutions to make the best business decisions. 

In contrast, talent management also handles data analysis and reporting. However, its products use macro-level data to make business decisions. This makes it a bit different from talent intelligence which uses its data to focus on specific individuals or needs. 

How to Implement Talent Intelligence

Implementing talent intelligence systems may sound complicated for new users, but it is easy with the right approach. There are two ways to implement talent intelligence software in 2024. One way to do so is by using the CRM and ATS integrated with talent management modules. An AI-based functionality powers this system, and it is advantageous in that the system is tangled with a unified data structure. However, implementing this system requires frequent updates regarding the changing technology, thus increasing the maintenance cost.

The second method is powering existing hiring software with talent intelligence. The software will act as a medium for converting data from existing hiring solutions by using AI. Therefore this approach is cheaper than the first one since solutions are deployed easily, fast, and efficiently.

CONCLUSION 

Talent intelligence software has proven to be the best for business activities as it eliminates the long queue during job recruitment and interviews. Since the tools are AI-enabled, businesses are improving the effectiveness and efficiency of recruiting and talent management. This not only results in reducing turnover rates but also saves on hiring costs. Remember that the above talent intelligence software have been tested by expert researchers, and even though they have varying features, you are guaranteed the best results. All you have to do is choose what suits your organizational needs.