Overview

Beamery's Labor Market Insights is an AI-powered tool designed to provide real-time, data-driven intelligence on talent availability, compensation benchmarks, and hiring demand. By integrating these insights directly into the hiring process, organizations can make informed decisions, align recruitment strategies with market realities, and proactively address talent gaps. This tool empowers HR teams to become strategic advisors, offering data-backed recommendations on salary, geography, and timing to attract the right talent efficiently.

Features and Capabilities

• Real-Time Market Data Integration: Seamlessly integrates external labor market data into the hiring process, providing up-to-date insights on talent availability and market trends.
• Compensation Benchmarking: Offers average compensation breakdowns for roles by location, enabling organizations to set competitive salary ranges.
• Hiring Demand Analysis: Displays the number of active job postings for specific roles in selected regions, helping to gauge market demand.
• Candidate Supply Estimation: Estimates the number of potential candidates in a given location who match the job role, aiding in workforce planning.
• Time-to-Fill Projections: Provides insights into the average duration job postings for a role typically remain open, assisting in setting realistic hiring timelines.
• Skill Trend Analysis: Identifies emerging and declining skills within specific roles, allowing for proactive adjustments in job requirements.
• Market Trend Indicators: Utilizes a "Market Trend" column to indicate whether a skill is emerging, stable, or sunsetting, based on recent job postings.
• Dynamic Job Architecture Integration: Integrates with Beamery's Dynamic Job Architecture to align internal job profiles with external market data.
• Embedded Vacancy Calibration: Incorporates labor market insights directly into the vacancy calibration process, enhancing decision-making.
• Global Coverage Expansion: Currently available in select U.S. metropolitan areas, with plans for global coverage to be introduced after the beta phase.