TDX Suite of Tools

Talent Data Exchange’s toolset has been designed to address both contingent workforce and talent acquisition needs.  The suite of tools for contingent workforce are shown below. For more information on FTE/employee, visit the ERE Talent Acquisition Benchmarking Services site where you can find detailed information on the metrics provided.

VariantExplorer Variant Explorer
A scatter-bubble tool used to evaluate how job titles distribute with respect to job attributes.

In todays’ complex marketplace, we’ve found that whenever job titles are used as the basis for comparison there exists a huge amount of variance concerning the data (e.g. pay rates, bill rates or recruiting cycle times). Understandable since the market is composed of thousands of people guessing at prices with no actual tools to help guide them. In addition, the level of conformity in the compared elements is vague. Often left unconsidered are the work shift, location and duration of assignment, specified skills, certifications, top-secret clearances, licenses and industry expertise. No wonder job titles are a bit “jobberwonky.” Not specific. Not apples to apples. Not clear cut. Brightfield’s Variant Explorer takes into account as much data and as many factors as humanly possible. Combining and recombining inputs in different ways to create different title specs. The more granular approach refines every job title down to a molecular level not only revealing who’s right for what title but what attributes can impact cost and availability of qualified candidates. Because in today’s working world, knowing beats guessing any day.

Secondly, Brightfield's approach and methodology ensures that all job title data conforms, thereby enabling it to be analyzed and producing reliable benchmarks. It is rare (if it ever occurs) to have multiple clients using the same job titles and descriptions across VMS programs, which means the data does not conform and benchmarks are less reliable.

TruMarketValuator Tru-Market Valuator
A histogram tool used to ascertain market rates with respect to job attributes.

What is the market paying for a senior programmer in San Francisco or Singapore? What about a junior analyst in Amsterdam, London or LA? Not approximately how much, since approximately is at best both random and a guess, but exactly how much. In today’s money. In Pounds, Euros or Dollars. Now, like great baseball manager Casey Stengel once said, “you could look it up.” Simply enter a job title on Brightfield’s Tru-Market Valuator and all the attributes that make the talent harder or more expensive to find will begin to fill the page. Select or delete whatever attributes best match the specific title type. After you’re satisfied that the selected options fit the job criteria, pricing information will appear summerizing descriptive statistics (min, mean, median, max, variance, quartile), visualizing a histogram and bell curve (showing higher and lower levels within same job type) and revealing accurate market rate value with +/- for spread/variance. This is not your grandfather’s rate book or father’s quotron. The Tru-Market Valuator is more defined, more in-depth and more needed than ever.

 

ProgramDiagnostics Program Diagnostics
Calculates program performance metrics to diagnose opportunities for improvement.

A labor-a-tory, in Brightfield speak, is any place investigation and/or observation is used to monitor and improve workforce performance and results. With that in mind, Brightfield’s Program Diagnostics allows clients to self analyze and compare their program to the overall market or a subset e.g. by vertical. Performance is measured according to quality of suppliers and placements. Efficiency is measured according to process segment timing and candidate review burden. Cost is measured according to pay rate, bill rate and impact per each supplier, talent source, contract duration/ tenure and location. Risk is measured according to supplier sufficiency, number of contracts maturing simultaneously and aberrant supplier behavior. The goal isn’t just awareness but assessable opportunity. A way and means to see where you are so you can get to where you want to be.

JobDescProfiler Job Description Profiler
Extracts keywords, skills and education requirements from job descriptions taken from requisitions.

Driven by a revolutionary AI linguistics platform, this high tech tool, in low tech terms, works like a data prospector; gleaning meaningful nuggets of information from hundreds of unstructured texts to create standardized descriptions for each job. The result is pure gold. Now, in no uncertain terms, every role can be benchmarked as far as education, experience, clearance, skills and cost. Because the tool is self-learning, it can adapt and adjust to include intangibles. Gone are the days of confusing job descriptions and conflicting job titles; the days where richness of detail gets lost in the rush. And you can access it all in seconds with just one finger. Computer Scientist Alan Kay once said “the best way to predict the future is to invent it”. Consider it done.

RateCardPublisher Rate Card Publisher
Schedule of rates per job title to suit a client's rate management requirements. Currently rate cards are handled by the data science team in conjunction with TDX.

Rate card- 1. A schedule of rates per job title that is used either as a contracted schedule of mark-ups or bill rates between buyer and supplier(s). 2. An internal guideline for pay rates or bill rates which may or may not be strictly enforced and may or may not be shared with bidding suppliers or requisitioners.

While the above definitions are widely accepted as the industry standard, Brightfield’s new RateCard Publisher is in no way, shape or form a standard means of calculation. Simple to use, the new tool guides users through the basic steps of rate card creation including source data uploads and various preference selections often associated with rate cards; like types of suppliers, supplier tiering, diversity supplier benefits and rules. Once inputted, the file can be exported to a VMS. Like many practical tools, the RateCard Publisher comes along at a time of real need. A welcomed addition that can help redefine what companies pay for what they get.

LaborBasketAnalyzer Labor Basket Analyzer
Offers all job variants in a single comprehensive view to get a sense of where company is against market overall.

Similar to Program Diagnostics, Labor Basket Analyzer enables a member to take a holistic view of all or parts of their program, yet focusing specifically on costs. Being able to identify which aspects of a program are below market rates and by what degree, the tool highlights opportunities for optimization where worker quality and productivity may be an issue. Equally Labor Basket Analyzer enables a member to see what aspects of a program are above market rates and what opportunities exist for savings strategies. Being able to model the impact of different optimization and savings strategies makes the Labor Basket Analyzer a very powerful tool in the hands of strategic users.

effex Efficiency Explorer
Accurate and actionable metrics that provide new insight into where CW programs excel and where to focus for top performance.

Similar to Program Diagnostics, Labor Basket Analyzer enables a member to take a holistic view of all or parts of their program, yet focusing specificThe latest entry into Brightfield's suite of TDX tools, Efficiency Explorer is all about "where". Where your CW program is working, where to look for efficiencies and ultimately where your program is going. Using speed metrics like Time to Fill (TTF) and Time to Start (TTS) and quality metrics like Submittal to Start (STS), Conversion Rate and Successful Placement, users can benchmark their program against their job families, the marketplace, even down to a specific role. The precise performance metrics not only inform managers about their requisitions and candidate submissions in detail, but about risks that will impact their project schedules along the way. Just as importantly, Efficiency Explorer identifies areas within your program that aren't performing as well as they should. Once you know where, it's all about the "what". What you have to do to achieve optimal CW program performance near and long term.

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How TDX Works

The engineering behind the TDX platform offers transparency. The technology breaks work assignments into granular bits that define job functions with previously unachieved accuracy. Even the smallest type of work detail is listed. This way, companies get a clearer, more comprehensive picture of the current labor market and where their program stands within it. In its entirety, TDX is a platform giving companies real-time access to data; a suite of strategic tools that can answer pressing questions companies have about their workforce. By segmenting data, it creates measurable context. By standardizing language, it allows real benchmarking. By improving accuracy, it adds evidence-based backbone to any human capital decision. All of which increase company-wide competitiveness, maximize spend and deliver the kind of value that drives performance.