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What Are the Key Components of Workforce Data?

Workforce intelligence data is a combination of several different types of information. The information gathered can be helpful to those in the business world. Here are some of the key components of workforce data to know: 

Professional Profiles 

One of the components of workforce intelligence data is the information gathered from online professional profiles. These can be the profiles of full-time professionals. Workforce data gathers the dates when the employees worked at a company. It also includes the different companies they worked for. The education, training, skills, and titles achieved are gathered as well.  

These professional profiles are one of the key components of workforce intelligence data. When using workforce intelligence data, employment profiles can be used in several different ways. Here are some of the areas that can utilize professional profiles:  

  • Hiring Strategies  
  • Diversity/Inclusion 
  • Risk Management 
  • Human Resources  

The data gathered from professional profiles by workforce software can allow businesses to hire and create a better workforce. 

Online Job Postings 

Workforce data can also gather online information about jobs. These job postings are gathered from several different posting boards or from company websites. It includes information like the dates the jobs became available, the descriptions of each job, and the salaries of the positions. 

This component of the data can be used by the hiring departments to compare their job postings with the competition. You can see what other companies are offering their potential employees. This can allow you to increase your chances of hiring at the same level as your competitors.  

Employee Reviews  

Another key component of workforce data is employee reviews. The software combines written reviews as well as scored reviews. Reviews of current and previous employees can be found for many different companies. Investors can use this information to understand employees’ opinions on a potential investment.  

HR departments may want to consider using these reviews to improve their strategies. If you are someone who is searching for a position, you can use this data to find out which companies are worth applying for. Workforce data gathers all public employee reviews in one location, making them easier to find.  

Government Statistics 

Workforce intelligence data also includes information gathered from the government. There are several different publicly available documents that are pertinent to workforce data. The information gathered for this data can be domestic and global. You can find information on published labor statistics. Public immigration filings, social security information, voter registration, and other information can also be gathered.  

This information can be tedious to find and combine, but workforce data allows you to see all of this relevant information in one place. These government statistics can help you spot different trends and make correlations.  

Firmographic Information 

This component of workforce data can give investors and business owners a peek inside companies they may not have had access to before. You can find information like the relationships between subsidiary-parent companies, mapping to financial identifiers, and industry classifications. This information can assist those going through a corporate merger. Here are some ways that firmographic data can be helpful: 

  • Improve market  
  • Boost customer service 
  • Enhance corporate mergers 

Firmographic information can help your business thrive by compiling information that you may not have noticed before.  

Who Can Benefit?  

Here are some people who can benefit from utilizing workforce intelligence data: 

  • Investors 
  • HR departments 
  • Mergers 
  • Corporate Strategists 
  • Governments 
  • Business Owners 

These are just a few of the people that can benefit from using the power of this data. The benefits can stretch to those who work for companies that utilize this data. Investors may want to find companies that use workforce intelligence data. Potential employees may want to work for a business that uses this data. Workforce intelligence can benefit a variety of people and businesses.    

Workforce Data for Better Decisions  

The key elements of workforce data can assist HR departments, investors, and business owners. Workforce intelligence data gathers all of this information and standardizes it. The data is available in many different forms, like graphs, and reports. You can have the data customized to fit your specific needs, too. You can request certain information on a specific company or industry. Workforce intelligence data can help give you an edge in making better business decisions.

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