The European recruitment software market is in rude health, with many new entrants to this year’s Fosway 9-Grid™ for Talent Acquisition reflecting buyer demand for innovative talent acquisition solutions. Fosway research shows that 59% of European organisations are planning to increase their total spend on talent acquisition this year.
The 2022 report highlights key market trends, including the pressure to show the value of TA, improving talent attraction and engagement, driving the diversity agenda and the role of the ecosystem in delivering successful recruitment outcomes. The report also explores solution trends, including the automation of job ads and job distribution, the changing role of employee referral programs, optimising the candidate experience and the evolution of onboarding.
A key area of market innovation is talent intelligence and the use of artificial intelligence to better predict quality of hire and reduce bias in the recruitment process. Talent intelligence is also accelerating the use of talent networks as AI is used to deliver better auto-recommended resources to candidates. The 9-Grid™ research also highlights the increasing importance of talent mobility in helping solve recruitment challenges. Internal career portals are being replaced by opportunity marketplaces that connect internal candidates with relevant roles and projects.
“Our research finds talent acquisition to be a red-hot market right now,” said David Wilson, CEO, Fosway Group. “Organisations face huge recruitment challenges, and it is great to see the innovation on offer from vendors to help buyers overcome these challenges. That said, this is a very busy, and rapidly evolving, marketplace. The onus is on buyers to really understand how to build an effective TA ecosystem that delivers real value and impact.”
The Fosway 9-Grid™ for Talent Acquisition provides market and solution insights for buyers in the European talent acquisition market at a time of accelerating change with new disruptive entrants and innovative incumbents. With buyers facing more choice than ever before, Fosway’s analysis provides an assessment of solutions based on whether they are part of a talent acquisition suite, or a specialist focused on certain parts of the recruitment process such as candidate experience, CRM, employee referrals and onboarding.
The research is created with input from Fosway’s Corporate Research Network of more than 250 organisations. Its aim is to demystify the supply options available to organisations and help HR teams make better buying decisions when it comes to investing in their technology solutions.
Lead analyst on the 9-Grid™, Sven Elbert, added, “This year’s analysis shows the growing importance and impact of AI in the recruitment process. Talent intelligence is helping automate processes and drive value for employers. Leveraging AI will require buyers to strengthen and develop their TA technology ecosystem as both the specialists and suites are rapidly developing their AI capabilities.”
The full report can be downloaded online now.
Fosway’s David Wilson and Sven Elbert will take questions on the research in a live online ‘Ask The Analyst’ session on 25 May 2022. Register for your free place now. Places are allocated on a first come, first served basis.