TAM SAM SOM — How To Calculate The Tech Market Size? | Mapping the Tech Talent Market
TAM SAM SOM —
Calculating Market Size For Your Technology Needs | Mapping The Tech Talent Market
In the ever-evolving realm of the talent solutions industry, understanding the tech talent landscape is necessary for success.
In today’s competitive tech industry, finding and retaining top talent is crucial for the success of any organization. To effectively strategize and optimize recruitment efforts, businesses can employ the concepts of TAM SAM SOM.
Three significant terms play a pivotal role in this process: TAM SAM SOM
Total Addressable Market (TAM)
Serviceable Addressable Market (SAM)
Serviceable Obtainable Market (SOM)
TAM SAM SOM: How To Calculate The Tech Market Size
What Is TAM SAM SOM?
Let’s dive deeper into the TAM SAM SOM concepts within the context of the talent solutions industry, focusing on the available tech talent pool and how Swabhav utilizes its exclusive community and market research to gain valuable insights.
Understanding your addressable market among Tech Talent is critical at every stage of your organization’s hiring goals.
Total Addressable Market (TAM):
Total Addressable Market (TAM) represents the entire market available for a particular skill or industry.
In tech talent solutions, Total Addressable Market (TAM) refers to the overall talent pool available for a specific skill set, considering all potential candidates with the desired qualifications and experience.
Serviceable Addressable Market (SAM):
Serviceable Addressable Market (SAM), in the context of the talent solutions industry, delves deeper into the tech talent pool dynamics.
It specifically refers to the portion of the talent market that is actively seeking a change in their current job.
Evaluation Comparison: Compare pre and post-evaluation scores to assess the talent’s growth and development.
Serviceable Addressable Market (SAM) focuses solely on candidates open to new opportunities and does not consider factors like salary or experience range, or location.
Serviceable Obtainable Market (SOM):
Serviceable Obtainable Market (SOM) represents the talent pool that not only seeks a job change but also fits requirements in terms of hard skills, soft skills, experience range, salary range, and location.
It goes beyond SAM by considering the subset of job seekers who align with our specific criteria. This dimension allows us to focus on identifying and engaging with candidates who not only desire a change but also possess the qualifications and attributes necessary for a successful match.
Why Does Swabhav Use TAM SAM SOM?
Utilizing TAM, SAM, and SOM data is crucial for Swabhav to develop an effective recruitment strategy and streamline the hiring process.
By gathering insights from both the open talent market and our exclusive tech talent community pool, we gain a comprehensive understanding of the available talent pool and can make informed decisions to meet our hiring needs.
With the data in hand, we begin by analyzing the talent pool’s skill levels and assessing if they align with our requirements. This analysis helps us identify any gaps in skills and determine whether upskilling initiatives are necessary to bridge those gaps. It enables us to create a future plan for talent development, ensuring we have a sustainable pipeline of skilled professionals.
How Does Swabhav Use TAM SAM SOM?
Next, we dive into micro-level planning, focusing on sourcing the right number of CVs and crafting compelling stories to attract top tech talent. Understanding the aspirations and expectations of candidates, we tailor our Employee and Employer Value Proposition to showcase the benefits. This approach helps us attract and engage the most qualified candidates who fit our organization’s culture and values.
Furthermore, we prioritize providing an exceptional interview experience for candidates. We strive to create a positive and inclusive environment during the interview process, ensuring that candidates feel valued and supported. This approach not only enhances their experience but also reinforces our reputation as an employer of choice.
By gathering insights from both the open talent market and our exclusive tech talent community pool, we gain a comprehensive understanding of the available talent pool and can make informed decisions to meet our hiring needs.
Revolutionizing Talent Acquisition: Introducing TSM
Your Path to Data-Driven Experiential Interviews
To streamline and automate the entire process, we have developed Talent Sourcing and Mentoring (TSM), a software that enables us to monitor and automate the experiential interview journey.
TSM extends its services to clients, alumni, students, mentors, developers, and HR professionals, making the process data-driven and real-time.
To learn more about TSM and its functionalities, stay tuned for our upcoming blogs here!
Frequently Asked Questions
What is an example of a TAM SAM SOM?
We’re in the tech talent industry, specifically focusing on software developers.
TAM (Total Addressable Market): All software developers globally.
SAM (Serviceable Addressable Market): Software developers who are actively seeking new job opportunities.
SOM (Serviceable Obtainable Market): Software developers who are actively seeking new job opportunities and meet our specific requirements in terms of skills, experience range, salary range, and location.
How do you calculate the market size using TAM SAM and SOM?
To calculate the market size using TAM, SAM, and SOM:
TAM (Total Addressable Market): Determine the total potential market size for a specific product or service by considering the entire market available, including all potential customers or users.
SAM (Serviceable Addressable Market): Identify the portion of the TAM that is reachable and relevant to your business. It represents the specific market segment or target audience that you can effectively serve.
SOM (Serviceable Obtainable Market): Narrow down the SAM further by considering the subset of the market that you can realistically capture and serve. SOM represents the portion of the SAM that aligns with your specific criteria, such as customer needs, geographic reach, or other qualifying factors.
By analyzing and segmenting the TAM SAM SOM, you can estimate the potential market size and focus your efforts on the most relevant and achievable market segments for your business..
What is TAM and SAM market size?
TAM (Total Addressable Market) represents the entire market size for a particular product or service, including all potential customers or users. It encompasses the maximum potential market without any restrictions or limitations.
SAM (Serviceable Addressable Market) is a subset of TAM that represents the portion of the market that your business can effectively serve. It takes into account factors such as geographic reach, target audience, or specific customer segments.
The market size of TAM and SAM can vary greatly depending on the industry, product/service, and specific market dynamics. It is typically measured in terms of revenue or the number of potential customers within the defined market scope.
What is SAM in technology?
- SAM (Serviceable Addressable Market) in technology refers to the specific portion of the market that a technology product or service provider can effectively serve. It focuses on the target audience or customer segment that aligns with the company’s offerings and capabilities. SAM takes into consideration factors such as customer needs, demographics, geographic reach, and other relevant criteria to determine the market segment that the technology solution can effectively target and cater to.