Lightcast, redefining the global standard for talent insights, announced an expansion of its global labor data, providing unparalleled breadth and depth of talent, market and jobs insights for a rapidly changing global workforce. This expanded data will help business and talent leaders make better skills-based decisions regardless of geographies, languages or job taxonomies.
The expanded data powers Lightcast’s Talent Analyst product, from the most trusted provider of labor market data and talent intelligence, to drive global talent management and workforce planning at an unmatched level of granularity. Market competitiveness and a new “Workforce Estimate” methodology bring to light new context that hasn’t otherwise been exposed.
“Global data on talent supply, demand and skills is critical to build a future-ready workforce and succeed in today’s environment — yet the disparate data sources and regional tools aren’t providing the insight that’s needed,” said Chris Kibarian, CEO of Lightcast. “This release takes a significant step forward by unifying global data with our Lightcast Occupation Taxonomy and offering 3x the granularity of the current standard. It’s an important milestone in our mission to unlock new possibilities in the labor market.”
Lightcast Occupation Taxonomy, developed and curated through an open source model, gives companies more confidence when conducting analysis of which employers are hiring, what occupations they’re looking for, what skills they’re seeking, and what they’re willing to pay. The previous standard taxonomy, ISCO, only covers about 500 categories for job positions, compared with Lightcast’s more robust data with 1,500 categories.
“The new depth of data, coupled with Lightcast’s taxonomies for positions and skills, gives companies enormous potential to leverage jobs and skills data for growth. As companies build new programs to source, identify and grow skills in this competitive labor market, Lightcast can serve as the ‘universal source of truth’ for analysis, planning, recruiting and benchmarking,” said Josh Bersin, founder of Josh Bersin Company, who will be joining Lightcast, Christine Yu, a lead on the Talent Intelligence Team at Google, and Meta McKinney, global talent intelligence and attraction leader for Nvidia, on Feb.16 at 11 a.m. CDT, for a webinar about the new data expansion. Register here.
With the multinational, multi-language capabilities of the dataset, employers, educators and policymakers will be able to make meaningful assessments of talent across national lines. The combination of remote work, aging populations and rapid skill change means employers are increasingly looking to tap into talent pools across national lines.
“Our decision to lean on Lightcast insights, compared to other competitor products, stems from their ability to provide global consistency in data, which is particularly crucial in navigating diverse standards across countries. Lightcast’s Occupation Taxonomy seamlessly aligns disparate job titles and classifications, ensuring a unified approach to global data analysis,” said a data strategy lead for a Lightcast customer ($10B+ global organization).
In addition to English, Lightcast can analyze job postings in Spanish, German, French, Dutch, Italian, Portuguese, Polish and Danish. This translated insight along with industry-leading granularity applies to 20 of the over 160 countries for which Lightcast currently has data.
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