Are you using an outdated applicant tracking system (ATS)? If so, it may be hindering your recruiting efforts. As more technology platforms are being scooped up by investors, one expert says these investments could lead to newer, innovative technology to make recruiters lives easier.
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According to Jason Corsello, Editor of Acadian Insights, the recruiting technology landscape will drastically change in 2019 due to acquisitions of two very popular tech platforms. In September of 2018, Vista Equity Partners acquired a majority of iCIMS and in February of 2019, K1 Investment Management acquired a majority of Jobvite. Why are these acquisitions so important?
Corsello says, “[C]ustomers are now demanding that their core recruiting platforms do more than just process applicants. They must also become global marketing platforms that engage their audience (i.e. candidates), drive corporate initiatives such as diversity and inclusion, and support career and pay progression.”
As artificial intelligence (AI), cloud-based infrastructure, and other technological shifts start to emerge, Corsello suggests that more investors will be taking interest in acquiring other technology platforms. Corsello says, “Most importantly, recruiting technology has become global. Throughout the world, online learning has leveled the skills divide. Companies are now looking in every geography when building new teams and the talent pipelines that support them.”
HR Technology Also Continues to Shift
As investors find interest in recruiting technology, other tech vendors are beginning to change their platforms to meet the needs of their customers. One such vendor is Oracle, which recently updated its human capital management tool, Oracle HCM Cloud. These changes can benefit HR professionals and recruiters in the following ways:
For recruiters: New features enable candidate-centric recruiting, which is a completely different approach to traditional recruiting. It reimagines the candidate experience to help attract, engage, and hire the best talent.
- Tailored career sites: Organizations can now create multiple career sites to better target specific candidate pools, such as unique sites to identify college graduates vs. more experienced professionals or dedicated career sites for various business units within larger organizations.
- Candidate self-service: Job candidates now have a variety of self-service access to proactively obtain information, such as their application status, through an embedded chatbot.
- Streamlined scheduling: A broad range of interview scheduling capabilities streamline the interview process and enable recruiters to spend less time on tactical scheduling and more time finding the best candidates.
For HR professionals: New workforce planning and design capabilities help HR professionals make data-driven decisions and easily deliver a personalized employee experience.
- Workforce planning: New features allow supply and demand planning insights to be filtered by key categories, including “person,” “job,” and “skills,” to help HR professionals craft their optimal workforce.
- HCM Design Studio: The latest updates to the HCM Design Studio make it easier than ever for HR professionals to configure the user experience with the addition of advanced, no-coding-required, configuration capabilities. These capabilities allow HR teams to create unique experiences based on users’ business unit, legal employer, or role. Additionally, new autocomplete rules can reduce the administrative burden of fixing incorrect data.
As technology continues to grow and change, it may be difficult to find the right vendor to meet your needs. However, that doesn’t mean you should stop focusing on the candidate as well. Finding the right technology takes time, but as you go through the motions, keep the candidate experience top of mind.