Talent acquisition technology trends seem to change every few months and it’s hard to keep up. In fact, over 60% of companies are increasing their investment in recruitment technology this year according to Aptitude Research. Companies are looking at both traditional providers as well as startups to help solve challenges with attracting, recruiting and hiring talent. But, determining what solutions provide value and what solutions create additional frustration is not easy. Currently, only one in five companies are measuring the ROI on their talent acquisition technology investments.
Fortunately, many companies are thinking more strategically about their technology with a focus on efficiency and innovation. Technology needs to do more than keep organizations compliant and provide a workflow for moving candidates through the process. Technology needs to empower talent acquisition leaders with the tools they need to solve business challenges. But, sometimes companies need help figuring out what technology to use.
I am so excited about our latest research report in partnership with CareerXroads designed to help companies navigate the trends in talent acquisition technology. The report includes new survey results, a series of interviews with enterprise organizations, case studies, RFPs and vendor reviews.
Below are some of the research findings:
– Scheduling and Candidate Communication: Companies that use bots are twice as likely to fill positions in 2 weeks.
– Recruitment Marketing: Only 2% of companies are using all of the functionality in their recruitment marketing platform.
– Assessments: Only 30% of companies are using mobile-optimized assessments.
– Automation: Nearly 40% of companies are investing in automation but only 1 in 3 companies understand what automation can do for their talent acquisition efforts.
The report also features companies such as GE Appliances, Lowe’s and CVS. Below are some highlights from the case studies:
Lowe’s Corportation: Lowe’s needed to create greater efficiencies and improve candidate communication. It decided to leverage Robotic Process Automation (RPA) to manage over 3 million applications that it receives each year.
Enterprise Telecommunications Company: Since implementing Brazen, 15-20% of chats have turned into hires. Improvements have also been seen in managing the volume of applicants and identifying better quality applicants.
GE Appliances: The overall candidate experience has improved at GE Appliances and the apply rates have improved from 40% to 80% through the use of Talentegy.
We are fortunate to be in an industry where so many organizations are willing to share their experiences. I hope this research project can help companies along their journey to understand what options they have and what partners to consider.