When to use Relode Insights

Relode Insights provides information about market conditions that can help you define your strategy to achieve hiring success. 

Who should use Insights?

We recommend you make Relode Insights available to the following stakeholders: 

  • Hiring Managers: Hiring managers must have realistic expectations for their roles. Giving them access to Insights empowers them to make recommendations and realistic changes and set the right expectations for finding candidates for their roles.
  • Recruiters & Talent Acquisition Team Members: This team is on the front lines of sourcing and screening candidates. Access to Insights validates their feelings about a job's requirements and the candidates they're finding or reviewing in various markets.
  • HR Leaders: Access to real-time labor market data allows these leaders to create a more educated hiring and retention strategy. Understanding the most up-to-date realities of the labor market ensures you lead with compelling offers and can proactively retain top talent long-term. 
  • Business Leaders: From the CFO to the CEO, having data to review is important when considering and approving offers and compensation recommendations from HR leaders. Knowing your position in the hiring market allows for better conversations, proactive changes, and more realistic standards.

When should I use Insights?

We recommend using insights at several stages as you consider your hiring process. 

Retention 

In an ideal world, the best hiring strategy is to decrease your new hire needs and instead retain your existing top talent. In this quickly shifting labor market, your current talent is consistently being bombarded with offers for interviews and conversations with your competition. Leveraging Relode Insights gives you a tool to create a proactive approach to reviewing compensation and other needs for your team. We recommend running a quarterly compensation analysis for your teams to understand what percentage you are paying each individual and making adjustments based on the market data surrounding your company to increase employee retention for the better.

Hiring 

During the hiring process, we recommend consulting the Relode Insights data at the following stages to ensure your job is competitive.

  • Creating an initial job request
    • When a hiring manager prepares a new job order, reviewing the Relode Insights data for the specific role will help them craft a compelling job posting. Things for hiring managers to consider: 
      • Compensation: Compare the salary they're planning to offer with what percentage of the available talent pool that will open up or close off. Insights show what percentile your salary is in compared to similar roles in the same market.
      • Supply & Demand: Review the ratio of available candidates with the current demand for that talent to decide how competitive the hiring process will be. This will help the hiring manager know how quickly they need to engage with any potential candidates to have a chance. 
      • Diversity: Understanding if the available talent is diverse in various areas will help hiring managers decide how they can best achieve the company's overall DE&I goals.
  • HR's review of the job 
    • Prior to advertising and sourcing for the new role, we recommend HR review the job with Relode Insights to confirm you are leading with the best possible role to lead to hiring success. Make sure to consider the same items listed above to set your team up for hiring success.
  • Screening Candidates 
    • When screening candidates, you can validate the Relode Insights labor market information. If you are not seeing the desired quality of candidates, this is a good time to consider other markets or modify your current job requirements versus preferences. Leveraging Insights will help you research what markets you'll have the best chance for hiring success. 
  • Creating an offer package 
    • When crafting your offer package this is a great time to revisit the Compensation and ensure you are offering a salary that is competitive with the current market.