This article originally appeared on HRE Online May 12, 2017
by Andrew R. McIlvaine
Over the past 30 years, few parts of HR have changed more dramatically, or been more affected by technology, than recruiting. But now many experts believe a turning point is at hand.
Today the U.S. recruitment and talent-acquisition market is worth an estimated $240 billion, according to Bersin by Deloitte. Two enormous, multibillion-dollar companies that didn't even exist 15 years ago -- LinkedIn and Indeed -- dominate the market, while hundreds of much smaller vendors offer services ranging from online assessments to employer branding. Most of these vendors deliver their services via the Internet.
However, despite technology's impact, the recruiting function at many organizations still leaves much to be desired. High turnover rates and low employee engagement plague too many companies, and the talent-acquisition function shoulders a chunk of the blame due to poor sourcing and screening methods, say experts.
In fact, technology has been both a blessing and a curse to recruiters: A poor candidate experience can now be shared virally, tarnishing a company's brand and making it much harder to attract quality recruits. Meanwhile, the rise of artificial intelligence means that tasks performed by recruiters today soon will be automated at many organizations.
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