This article originally appeared on HR People + Strategy November 16, 2017
by Linda Brenner
If someone unfamiliar with the talent acquisition industry took a close look at the current landscape, the most obvious conclusion would be that TA technology is the principle driver of positive hiring outcomes. After all, TA tech dominates the field by way of long term industry players, start-ups, conferences, consulting firms, blogs and research studies. Even RPO and staffing firms tout their technology as a competitive advantage. According to a CB Insights study, in 2016 nearly $2 billion was invested in HR technologies with most related to hiring and retention.
Yet, attracting and retaining skilled employees ranks among the top three concerns of senior business leaders according to recent studies by Deloitte, PwC and Korn Ferry. By all accounts, hiring isn’t working well within many companies. Incessant frustration with any of the following can be heard in most organizations: the speed that interested/qualified candidates are identified, recruiters’ ability to compel top talent to consider opportunities, the quality of candidates presented to hiring managers, the cost of talent acquisition efforts and more.
As the noise increases, more HR and TA leaders are turning to talent acquisition technology to handle tasks including applicant tracking, employee referral, job search, brand creation, job board distributors, interview scheduling, and candidate referral. Despite the growth of talent acquisition technologies, hiring isn’t getting better, faster or cheaper.
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