I am excited to announce that we [Aptitude Research] published our annual Talent Acquisition Technology Buyer’s Guide report this week, sponsored by Verified First. While our 2019 Talent Acquisition Tech Guide focused on SMB TA technology, our latest guide focuses on enterprise TA technology. The talent acquisition technology market is constantly changing and staying ahead of trends is becoming more challenging. Organizations need to evaluate providers based on a new set of criteria that encourages partnership and collaboration between the business and the solutions. Trust in the company, product, and roadmap is a critical part of the buyer’s journey and a key differentiator when evaluating solutions. The Talent Acquisition Technology Buyer’s Guide serves as a resource for anyone interested in learning more about the trends impacting technology and the requirements critical to making decisions.
Evaluating technology is not as easy as it used to be. Ten years ago, the talent acquisition technology market consisted of multiple providers offering clear products in defined categories such as background screening, job boards, applicant tracking systems (ATS), assessments, and onboarding. Today, the market has exploded with hundreds more providers and new ones entering each month. Additionally, the lines have blurred. Many of these providers offer several solutions in talent acquisition or have created new categories of technology, making a buyer’s decision much more complicated.
To help you make sense of the ever-evolving technology landscape, here are 5 of the top findings from the report:
Companies have stated that improving efficiency is the key driver when evaluating technology providers.
Companies are looking at providers to:
Improved efficiency benefits the candidate as well as the employer by helping candidates receive communication, stay informed and move through the process.
Although some technology investment has slowed down over the past year, one in four companies is increasing their TA investment and 44% of companies invested in new technology in 2020. Companies are looking at providers to support the challenges they face but often do not consider how they will work with the existing technology infrastructure.
Only 1 in 2 companies measure the ROI of their technology investment. As talent acquisition is being held more accountable to the business, being able to show the value and the timeframe is critical. Measuring and demonstrating ROI is a crucial part of any technology decision and does not need to happen after a company makes its investment — it should actually be considered before.
Adoption is a challenge in talent acquisition technology. Only 3% of companies use all the functionality in their ATS and only 2% in their CRMs.
Companies need to look at:
The top areas of TA tech replacement this year include:
Before evaluating technology options, organizations should conduct an internal needs analysis and be prepared to answer some questions internally. Companies need to identify and communicate expectations before evaluating solutions. Before signing on with a provider, companies should ask (1) how confident the provider is in meeting these expectations and (2) what plans they have in place to meet and even exceed them.
This report can help companies at any stage of their TA tech buyer’s journey. TA buyers face more difficult decisions today with new providers, new categories, and new pressures. The TA tech market changes rapidly and companies must balance their own unique requirements with the providers that will partner with them.
The research supports that:
For more information on the current state of talent acquisition technology, download this year’s guide and check back for part two to get the rest of the guide’s top ten findings!