I am pleased to announce the strategic partnership between Guidant Global and Brightfield Talent Data Exchange (TDX).
“The partnership with TDX will provide the Guidant team with market intelligence to support meaningful, insight-driven conversations with our clients on how to make the best, most timely and most cost-effective hiring decisions” said Simon Blockley, Guidant Global MD.
Just what is TDX?
TDX is a secure online platform used to anonymously benchmark key criteria both within a managed service programme and against the market. It allows users to test out new resourcing strategies, both on a role-by-role basis and at a programme-wide level, by utilising and comparing against anonymous, real-life market data. It offers insight into precisely how a strategy will stack up based on key metrics such as cost, quality, efficiency and risk.
Data driven decisions
TDX will arm the Guidant Team with reliable market intelligence to proactively engage with hiring managers and using data to shape decision making. For example, data comparisons can indicate where current pay rates are too high and savings can be achieved, or where rates are too low and this could impact access to top talent and cause prolonged hire-cycles.
Analysis can be conducted on a micro level, such as at role/location level, identifying the cause and effect relationship between different job features (such as pay rate’s influence on time to hire or a location’s influence on quality) or at a macro level, reviewing and analysing the cost of recruitment across the programme as a whole.
Ultimately, the on-demand access to data will help deliver a competitive advantage to our clients, by helping place them in a position to attract the highest quality candidates at the best-possible value.
Using machine learning to improve accuracy
It’s not all data, data, data. TDX will review a job description, identifying key skills, qualifications and 11 other ‘skill’ categories. Through machine learning the platform will suggest the most accurate job title for a role, based on the location and industry. This also means the Guidant team can quickly and accurately benchmark based on the actual job characteristics too, not just the job title itself. In turn, this helps with setting pay-rates, agreeing sourcing strategies and finding the right candidates sooner.
Improving existing programmes
Existing programmes will benefit from the ability to rapidly identify areas of improvement. This can be achieved through benchmarking pay rates against up-to-date data from the market, allowing Guidant Global to identify opportunities for savings with client hiring managers. Furthermore, TDX can also be used to analyse time to hire, with data comparisons based on specific industry and location criteria.
Equally important is the recognition of areas where programmes are performing better than the market average (for metrics such as quality, cost, risk and efficiency), as these learnings can be reapplied elsewhere for the client. Validation of when a programme is performing is also a great source for team motivation and a means of celebrating success!
Give me more data, more insight!
If you want to go into more depth on how the partnership between Guidant Global and TDX can improve your programme, be it new or existing, please contact me on Cameron.Robinson@GuidantGroup.com