Cary Sparrow, CEO
Greenwich.HR is leading a trend in using advanced market information to allow companies to see themselves and opportunities in entirely new ways.
A major retailer needs to understand the impact a large new competitor is having on wages and the number of available hourly workers in small western towns. A recruiter needs to be able to tell her client which companies are hiring IT developers with blockchain skills in three major cities, and how much those skills are driving pay and talent churn. An investment fund manager wants to know whether a company in their portfolio is successfully filling the sales positions it needs to execute on revenue and earnings commitments.
These types of questions occur every day, but traditional sources of labor market data cannot answer them. Greenwich.HR’s data platform can. The company calls it “Seeing the labor market in high definition.”
Labor market data is widely used, but has traditionally faced significant limitations. Often derived from surveys that are expensive and time-consuming to administer, the data on hiring, pay, jobs, and skills is usually late, inaccurate, and incomplete. But, companies, communities, and institutions spend billions each year on labor market data.
“The labor market is huge, and hugely inefficient,” says Cary Sparrow, CEO of Greenwich. HR. “We believe strongly that 21st century questions cannot be answered with data sources built using survey methods originally conceived over three generations ago.”
The team at Greenwich.HR is set out to build a better way to see what is happening across the labor market in real-time. They built a next-generation data platform that has quickly become the largest source of company-reported real-time labor market data. Drawing from jobs data from tens of thousands of online sources using AI-driven tools, Greenwich. HR’s data platform allows any organization to gain first-hand insights into the developments taking place in the labor market, all in real-time. They deliver predictive measures that show future trends, and provide an approach to data delivery that is designed to meet the demanding needs of today’s businesses.
We let our clients see the labor market in high definition, opening the doors for amazing efficiency and innovation
“The field of data science has advanced dramatically over the last decade, but sources for market data have not kept up,” says Kevin Moldestad, Greenwich.HR’s COO. “We track over 70 percent of all new jobs in the US. We monitor millions of jobs each day, and we integrate data from over 8 million hiring organizations into a common framework. And because we get our data from online sources, our data is company-reported and completely transparent. You can see which companies are hiring, how much they are paying, and how long it is taking them to fill their positions. You can see this for any job, any location, any company, and any skill. And, you can track trends by year, month, week, and day.”
Who needs real-time labor market data? It turns out, lots of people, especially in this historically tight labor market. And, it’s not just the HR teams. Since its inception in 2015, Greenwich.HR has gained clients among large corporations, consulting firms, recruiting firms, media companies, hedge funds, and universities. The company has quickly attracted blue-chip brands as clients in a short time. “The need for labor market data is pervasive, and we are extending into new markets as quickly as we can,” Sparrow explains.
Greenwich.HR is growing fast, but growth is not coming at the expense of focus. “To the contrary—we are tightly focused as a business,” says Sparrow. “We’ve built a data platform designed to serve the widest possible range of situations and needs. But, we are also very clear about what we don’t do. We are an ideal source of intelligence for organizations that have invested in their own analytics teams. Therefore, that is where we focus on. We have also built strong partnerships with application developers and consulting firms to deliver context-specific functionality and expertise. This allows us to bring our capabilities to many types of clients without losing focus on what we do best—creating world-class market intelligence.”
According to Moldestad, “Greenwich.HR’s clients include savvy analytics teams and application developers. We understand their needs very well. Our goal is not to build the best business intelligence application—it is to power all applications and teams who need labor market intelligence.”
Looking ahead, Greenwich.HR is expanding its reach to include extensive international data, and it is in the process of deploying its technology to over 60 countries. And, Greenwich.HR is rapidly growing its integration partnerships with a wide range of technology and service partners.
“It has been thrilling to see the number of clients who are building new products on top of our data,” says Sparrow. “These companies are growing entirely new businesses from the insights we provide—insights that have never been available before. We measure our success by how much our clients create value for their own clients.”