Claro Analytics, a global talent intelligence leader, is advancing the industry with the launch of its proprietary Labor Market Reports solution. The AI-powered tool instantly compiles and analyzes U.S. talent research based on location, salary, talent mobility, competitor intelligence, DEI, hiring trends, and more. When using the tool, HR teams will see their time spent curating labor reports plummet from what can typically be days or even weeks to as little as one minute for both web-based reports and executive-ready PDF formats.
“Claro’s Labor Market Reports are a completely unique offering in the labor intelligence marketplace that will revolutionize HR operations,” said Michael Beygelman, EVP of Product at Claro Analytics. “Claro has taken AI’s ability to deliver immediate results and made it accessible to clients so they have real-time access to actionable labor market insights, without having to spend hours researching on their own or making requests through IT. By instantly understanding micro and macro opportunities and challenges, HR teams can make more strategic talent decisions using the latest data and insights – giving them a significant recruiting advantage over their competition.”
The race to identify and secure talent continues to intensify, requiring greater speed and efficiency without sacrificing data integrity and precision. By harnessing the power of AI, Claro’s Labor Market Reports synthesize a decade of Claro’s leading labor market analytics with real-time data collected from thousands of public social sites and job boards, all with just two simple prompts from the user – Occupation and Location. The findings are instantly packaged into a robust report that provides context to the information and offers strategic recommendations that help talent leaders gain an edge in their market of interest. Other benefits for professionals along the talent continuum include:
- People Operations and Talent Analytics Teams can use the reports to obtain precise data around occupation and hiring location to better drive their strategic decision-making process. For instance, weekly job postings for the Demand Generator Manager role in Houston, TX, peaked at 171 in April 2023, then gradually declined to 68 by December 2023, a 60.23% decrease. The current job postings stand at 73.
- Recruiters have evidence about market conditions that they can bring to their managers before sourcing initiatives begin so they can secure the best candidates while saving the company time and money. Data shows the presence of large corporations makes the job market for Sales Managers extremely competitive in Seattle, WA. Amazon is the top employer with 2,018 positions, followed closely by Nordstrom and Microsoft with 925 and 899 positions, respectively.
- Total Rewards Managers gain clarity into what benefits, compensation, and rewards are being offered to candidates in any given market or title so they can determine how best to respond with offers – this provides both recruiting and retention benefits. A compensation analysis of Paralegals and Legal Assistants in New York, NY shows fluctuations over the past year, from a high of $74,970 in November 2023 down to $58,200 in February 2024.
- CHROs have access to talent mobility and DEI insights that they can use for executive-level conversations to improve strategic workforce decisions and ensure the best people are in the right roles. Diversity data for Public Relations Managers in Washington, DC shows a predominance of White employees (55.32%), followed by Black (20.75%), Asian (14.56%), and Latinx (9.37%) employees.
“We all know HR departments are dealing with a rising level of responsibility and pressure, leaving them stressed and overworked with little time for strategic endeavors,” added Kim Pope, COO of WilsonHCG. “And while AI promises to simplify a range of other administrative HR tasks, many of these solutions are still in the beginning stages. Claro’s Labor Market Reports tool is a completely realized product and can be implemented immediately to alleviate a major burden felt by HR teams across the country – finding time to research valuable labor market data that can give their organizations an enormous competitive advantage.”
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