Talent acquisition and staffing technology market is growing progressively due to increasing usage of digital technologies for recruitment, staffing and other human resource functions. Moreover this Talent Acquisition and Staffing Technology is adopted in the organizations to attract and retain talent in the company without spending too much of amount on recruitment staff.
Talent Acquisition and Staffing Technology is used to attract hire, evaluate and involve permanent and temporary staff members to reduce the problem of labor unavailability in various business units. This Talent Acquisition and Staffing Technology helps recruiting, staffing and talent management companies that help organizations to get good and skilled workforce.
Talent Acquisition and Staffing Technologyis increasingly adopted due to changing sourcing strategies of the companies, change in the process of hiring professional and executive search, increasing usage of social, mobile technology usage among candidates for job search and changes in branding and marketing of recruitment and hiring.
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Talent Acquisition and Staffing Technology Market: Drivers and Challenges
The major factor driving the Talent Acquisition and Staffing Technology is the adoption of modern technologies such as mobile, analytics, cloud and other for talent search and job search. Many recruitment organizations have started adopting these modern technologies in order to improve the user experience as individual use smart devices to search job. Moreover, acceptance of new model and services in talent acquisition field has enforced companies to use this technology.
The key challenge the lack of knowledge about the usage of Talent Acquisition and Staffing Technology. This technology is still at its introductory phase and has been used by limited companies for hiring and talent acquisition. Companies are using this technology but due to lack of knowledge, it is not used properly. Moreover, the process of partnering with a talent acquisition firm which is using technology to hire employees, is a costly task due to which medium and small companies do not use consider this technology.
Talent Acquisition and Staffing Technology Market: Segmentation
Segmentation on the basis of platforms:
- Cloud based platform
- Digital analytics platform
- Consumer marketing platform
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In August 2016, Randstad, a talent acquisition company has entered into a contract to acquire Monster, a job search portal. This acquisition will help Randstad to improve its offering by providing new options through Monster web portal to customers along with using talent acquisition technology.
In March 2016, Recruiter.com and Association for talent acquisition solutions has entered into the partnership. This partnership will help Recruiter.com to increase the branding opportunities and will increase the usage of Talent Acquisition and Staffing Technology to track the applicant, job boards, career site developments and other.
In Talent Acquisition and Staffing Technology market there are many vendors some of them IBM, LinkedIn, PeopleFluent, Randstad holding, SAP, Simply Hired, CarrerBuilder, APD, Adecco, and others.
Presently, North America is holding the largest market share for Talent Acquisition and Staffing Technology market due to high adoption of digital technologies among individual for job search. The adoption of analytics and smart technology based model platform among many talent acquisition companies is also impacting the market for Talent Acquisition and Staffing Technology in a positive manner. Companies such as IBM is also working towards the development of Talent Acquisition and Staffing Technology platforms with the partnerships in this market to enhance market opportunities.
In Europe region, the market for Talent Acquisition and Staffing Technology is witnessing high growth rate due to the increasing demand for Talent Acquisition and Staffing solutions and platforms.
The Asia Pacific region is following the Europe region in Talent Acquisition and Staffing Technology market. This market is expected to have the highest growth rate in coming years due to the adoption of digital technology and cloud based technology for talent and recruiting process enhancement.