The half-float format is actually not supported on all ARM v7 implementations. See the ARM manual here. It's required by vfp4, so if your chip supports that, that's a good start. In general I would recommend using run-time detection and dispatching. To enable the instruction in general, you would need to use one of several floating point support options, in general "fp16" is the keyword, for example:
-mfpu=neon-fp16
if you are sure that your target supports it for neon. I couldn't find all of the examples for llvm either, but I think they are generally compatible with the GCC options, found in the GCC manual.