Abstract: The speed of enterprise innovation has an important impact on the organization's competitive advantage. Based on the structural hole theory and human capital theory, this paper studies the influence of the structure hole position of the talent flow network on the innovation speed of enterprises. The empirical analysis results combined with LinkedIn online resume data and CSMAR show that there is a significant U-shaped relationship between the talent mobility network structure hole and the enterprise's innovation speed; the enterprise's internal absorptive capacity has a significant positive moderating effect on the relationship between talent mobility network structure hole and the innovation speed; while the market competition intensity has a significant negative moderating effect on the relationship between the two; further analysis found that the significant impact of structural holes on the speed of innovation mainly merely exists in non-state-owned enterprises. Further, we discuss the theoretical contributions and practical implications of this study.