Market Intelligence

Development of a labor market & competitor radar

Faced challenges

In this project with a globally leading software company, HRForecast developed a labor market and competitor radar to derive strategic insights for the recruiting, development, and technology strategy of Europe’s largest and leading software company. The project aimed to assess the current market situation in the war for talent, focusing on strategic workforce levers in recruiting and development.

A further requirement was gaining a global overview of ‘hot and trending’ skills, the geographical hot spots, and the competitor demand.

“Terrific work. We gained great insights into the external labor market, which had, in turn, an immense impact on our approach.”

Head of People Insights, COO HR, Globally leading software company

Questions to be clarified:

Which skills are key competitors and other players seeking?

Where are geographical skill hot-spots located?

Which sourcing strategies do the market players employ?

Does a globally leading software company miss out on any essential skills?

What insights can we derive for a globally leading software company sourcing and development strategies?

Project approach

1. Data infrastructure setup

We set up the data crawlers to access relevant career websites and major job portals to perform benchmarking. The crawlers captured all published job openings of the defined market players.

2. AI and machine learning

Our AI engine’s machine learning algorithms run on the crawled data to extract and classify relevant information on skills, jobs, locations, and other components.

3. Data evaluation

Based on the data, we analyzed the global skill-demand situation by identifying sourcing risks and unveiling hidden potential.

4. Insights & recommendations

We determined strategic insights for the systematic development of the workforce and the recruiting strategy aligned with the business and workforce strategy.

Key insights & value-adds for the globally leading software company

Globally leading software company received leveraged analytics insights into:

A talent acquisition strategy
Concrete talent acquisition practices
Integration of reports, KPIs, and visualizations within the client’s business intelligence platform and executive dashboards
Integration of big data technologies for the determination of labor market insights.