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M AK I N G S EN S E O F TH E M A ZE: TALENT ACQ U I S IT I O N TEC H N O LOG I ES
E X E C U T I V E B R I E F
Katherine Jones, Ph.D. Mercer Select Intel l igence
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3 HIGHLIGHTS• Confusion reigns from the overabundance of talent acquisition products on the market.
• New social, web and mobile apps touch every part of the recruit-to-hire process.
• Clarify the talent acquisition analytics you want before vendor evaluation.
YOUR BRIEFING IN 3…2…1…
2 TAKEAWAYS• Plan for integration needs when selecting new talent acquisition solutions.
• New solutions are mobile first: consider these in the context of your total corporate mobile strategy.
1 ACTION• Articulate your hiring management technology needs carefully and learn what solutions address them.
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Finding talent, which used to be addressed through “post and pray,” has been elevated to a science that includes use of social networks, social search, job board aggregators, candidate relationship management tools, and many more. Many of these technologies are recent additions to a market that in the past was dominated by applicant tracking systems (ATS) providers; many of these newcomers are creating fresh and sometimes novel market categories. New products appear on the market almost daily, lending confusion to an already crowded array of products that source, engage, screen, and manage the hiring of job candidates. Now add contingent workers to the mix: 40% of Americans are expected to be freelancers by 2020 — that constitutes 60 million people. In this new era of the freelance economy, innovative mobile tools are needed to locate that often-elusive talent: crowdsourcing, e-staffing, and recruiter and labour marketplace products bring ease to engaging those workers.
FIRST COMES LOVE
Only in the past decade has the language of recruiting changed to the language of courting: the wooing of the passive or active job seeker sometimes long before a position is open or long before a currently employed worker is thinking about a career change. Accelerated by the shortage of skilled talent, especially in locales such as Silicon Valley, shrewd recruiters engage in “conversations” with known experts, often identified through social media. This has led to the concept of early relationship-building as a core recruiting principle. These solutions lead to the ability to both conduct meaningful conversations online and to track interactions with potential and current candidates. In addition, the concept of continual relationship building during the hiring cycle, post-sourcing, has become increasingly critical.
MAKEOVER SOMETIMES REQUIRED
The proliferation of social platforms and the unfettered access to global data prove the culprit here. Today’s companies have to be transparent with their rewards and recognition programmes, values, career paths, and organisational structures. As a byproduct of this forced transparency, companies are leveraging employer branding tools to proactively create and promote their employee value propositions (EVP).
Providers that focus on brand creation and management help companies define, articulate, present, and promote their employer brand through social platforms, job boards, and more. Recruiters cannot ignore the fact that employees increasingly cite an employer’s reputation as a major influencer in deciding where to work.
Technology ties all this together: solutions support employer brand creation and corporate brand management to help the candidate relationship management process, fostering the creation of a picture of the “authentic self” of the company.
Companies report that the better they are able to articulate their authentic employer brand and their EVP, the higher their candidate conversions.
Competition for skilled talent is hot — and increasingly challenging across the globe. Solutions — often from young innovative companies
— hit the market almost daily it seems, but how are recruiters, hiring managers, and HR professionals looking for new software solutions to ascertain which solutions make sense for them?
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NEW RECRUITING MODELS LEAD TO PRODUCT INNOVATION
New web-based models for hiring are blossoming. The innovative applications supporting these models are often proving more flexible as a way of seeking work for candidates, and less expensive for hiring companies.
Crowdsourced recruiting platforms, as just one example, provide support for task-based services or scoped work projects. The concept allows the employer to state the budget requirements and avoids the need to search out the desired talent independently. Employers share tasks and let individuals create and submit their own unique solutions from which the employer selects the winning solutions.
PLANNING YOUR TALENT ACQUISITION TECHNOLOGY STRATEGY
KEY AREAS
Recruiting marketplaces are another example. In the same way that labour marketplaces rely on a candidate talent pool, a recruiting marketplace relies on a pool of recruiters. The goal is not to hire the recruiter but, rather, to use this pool to search for hard-to-find talent among the recruiters’ own talent pools or contacts. As a concept, these marketplaces provide an employer with a host of recruiters at its disposal without having to employ them on staff. These platforms potentially have pools of many independent recruiters. Some of these platforms allow employers to hire a recruiter per hour or to crowdsource the recruiting effort so that many recruiters can work on the same job, ideally reducing time to fill.
Are you making optimal use of social networks to locate passive talent?
Is your company’s presence on social media compelling to potential candidates?
Have you evaluated your sources to determine which yield the top performers and the comparative costs?
Does your technology support the management of both traditional and contingent hires? Does it support your global hiring agenda?
Do your hiring management technologies provide the analytics you need for good decision making?
Is the portrayal of your brand consistent across your candidate-facing sites?
Does your external branding present an authentic picture of your culture and work ethic?
Source: The Buyer’s Guide to Talent Acquisition Technology: A guide to innovative recruiting and hiring solutions, Mercer, 2016.
Are your criteria for new employee selection consistent across your enterprise?
Have you evaluated your screening mechanisms for possible unconscious bias which might limit diversity?
Evaluate Your Employment Brand
Review Your Sourcing Practices
Screening and Selecting
Hiring Management
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FOR MORE INFORMATION
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MSI partnered with Talent Tech Labs to develop a taxonomy of talent acquisition solutions, highlighting newer market entrants in terms of their innovation and their market viability. In this report we provide a definition of the primary categories into which today’s talent acquisition technologies fall. We include an overview of the most common features and functions of the product areas, and for some areas, try to present an indication of the applicable revenue models. Representative providers within each category — sourcing, engaging, selection, and hiring — are also included.
We love to hear from our members. If you have any questions about this brief or MSI in general, please contact us at info@selectintel.mercer.com.
MSI Members can access the The Buyer’s Guide to Talent Acquisition Technology: A guide to innovative recruiting and hiring solutions. The report is available to purchase for nonmembers.
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APPENDIX
VENDOR LISTING
The talent acquisition solution providers mentioned in this report are included below, with their corporate contact information. This is not meant to be an inclusive list of all providers in this very broad area of technology. Rather, the basis for inclusion in the taxonomy, based on Talent Tech Labs Ecosystem analysis is twofold: that the companies were innovative (offering something new to the marketplace) and that they were or had the potential to be influential, that is, they have the ability to sustain their market presence, based on such criteria as their technology, their funding levels, numbers of current clients, and their management teams. Established solution providers are included as they were also mentioned within this report.
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ALLNURSES
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AMAZON MECHANICALTURK
ANGELLIST
APPCAST
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ARTICSHORES
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ASSESSMENT INNOVATION
ASSURED LABOUR
ASYNC
AVATURE
A
BBEAMERY
BEANSPROCK
BEELINE
BLUESKY
BOON
BOUNTYJOBS
BRAZEN
BREEZY
BRIGHTMOVE
BROADBEAN
BULLHORN
BURNINGGLASS
CCAREER ARC
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CAREERLEAF
CAREERS 2.0
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CATS
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CHECKSTER
CHEQUED.COM
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CLINCH
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ENTELO
EQUEST
ERECRUIT
ETEKI
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HP HUMANPREDICTIONS
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INFIDO
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INNOVATE CV
INTERNSHIPRATINGS.COM
INTERVIEWED
INTERVIEWJET
INTERVIEWSTREAM
IQNAVIGATOR
JJABATALKS
JANE
JAZZ (PREVIOUSLY THE RESUMATOR)
JOB HUK
JOBALINE.COM
JOBANDTALENT
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JOBBOARD.IO
JOBBOOK
JOBCAST
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MATCHPOINT CAREERS
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MBO PARTNERS
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MERCERMATCH
MINDSUMO
MOBOLT
MONSTER
MONTAGE
MYSTERYAPPLICANT
OONBOARDIQ
ONFORCE
ONGIG
ONRECRUIT
GOOD&CO
OPUS
ORACLE
OUTMATCH
OYSTIR
8
SALARY.COM
SAP SUCCESSFACTORS
SAVVY
SCHEDULETHING
SEEK
SHIFTGIG
SHORTLIST
SILKROAD
SKILLSTREAM
SKILLSURVEY
SL8Z
SMARTERER
SMARTRECRUITERS
SMASHFLY
SOCIAL INTELLIGENCE
SOVREN
SPARKHIRE
STACKOVERFLOW
STARTMONDAY
STARTUPCVS
STERLINGBACKCHECK
SWITCH IDEA
SWOOP
SYMPHONYTALENT
P
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PATHMOTION
PEOPLEPERHOUR
PERSONA LABS
PLUM
PROGOW
PROJEKTWERK
PROVADE
PROVEN
PYMETRICS
QANDIDATE.COM
QUESOCIAL
QWALIFY
RRATEDLY
RCHILLI
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RECROUP
RECRUITER
RECRUITERBOX
RECRUITICS
RECRUITIFI
RECRUITLOOP
REED.CO.UK
REPPIFY
RESCHEDGE
RIIPEN
ROIKOI
ROLEPOINT
S TTALEMETRY
TALENT CIRCLES
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TALENTBIN
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TALENTRON
TALENTROOSTER
TALSONA
TAPFRAME
TASKRABBIT
TEAMFIT
TESTTRACKS
TEXTIO
TEXTKERNEL
TEXTRECRUIT
THE LADDERS
THEJOBPOST
THEMUSE
THUZIO
TOPTAL
TREATINGS
TRUEABILITY
TTI
TWAGO
9
UULTIMATE SOFTWARE
UNDERDOG.IO
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UNIVERSUM
UNTAPT
UPWORK
US.JOBS
VVAULT
VBENCH
VCV
VETTERY
WWAYUP (PREVIOUSLY CAMPUSJOB)
WELLHIRE
WEPOW
WERKLY
WHITETRUFFLE
WHOLI
WITTYPARROT
WONOLO
WORKABLE
WORKDAY
WORKMARKET
WORKPOP
WORKSHAPE.IO
0-9
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ZEROCHAOS
ZERPLY
ZIPRECRUITER
ZOOPPA
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