2024 Fosway 9-Grid™ for Talent Acquisition explores a market embracing both the disruption and innovation that AI brings
Fosway Group, Europe’s #1 HR industry analyst, has released its new 2024 9-Grid™ for Talent Acquisition. Despite ongoing budget pressure in many organisations, the talent acquisition (TA) market in Europe is standing tall despite economic headwinds.
This year’s research finds that Specialists are battling it out with both TA Suites and HCM vendors in the Large Enterprise sector of the market. But more often than not, Specialists, focusing on experience and automation, end up augmenting TA Suites or TA modules from HCM Suites to deliver more effective outcomes. Competition in the mid- and lower segments continues to increase and buyers where local players with a lower total cost of ownership are also proving effective choices.
The 2024 report highlights other key talent acquisition market trends, including corporates consolidating their ecosystem in the upper part of the recruitment funnel and high corporate interest in AI-powered TA solutions. The report also explores solution trends, including the expansion of generative and conversational AI into TA and the evolution of more effective programmatic advertising.
AI continues to dominate the talent acquisition discussion. For corporates it is a real point of interest and exploration. But vendors it is the dominating story, with Suites and Specialists alike embedding Gen AI and other AI tools across many parts of their offering, all seeking a competitive advantage and transforming their potential value for corporates.
“The TA market was an early adopter of the potential of AI. Many corporates are already on board using it in selected use cases and that is scaling rapidly,” said David Wilson, CEO, Fosway Group. “But it is the next wave of AI solutions that will provide TA with dual powers in intelligent automation and augmentation. For now, key interactions will remain strictly ‘human-in-the-loop’.”
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 and innovation. 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 2024 9-Grid™ for Talent Acquisition, Sven Elbert, added, “Economic uncertainties have heightened competition, and also sparked a lot of movement on pricing. Now seems like a really good time for corporates to consider re-evaluating the market.”
You can download the full report here.
Fosway’s David Wilson and Sven Elbert will take questions on the research in a live online ‘Ask The Analyst’ session on 11 June 2024. Register for your free place here. Places are allocated on a first come, first served basis.
About the Fosway 9-Grid™
The Fosway 9-Grid™ provides a unique assessment of the principal learning and talent supply options available to organisations in EMEA. Now in its fifth year, the analysis is based on extensive independent research and insights from the Fosway’s Corporate Research Network of over 250 customer organisations, including BP, HSBC, PwC, RBS, Sanofi, Shell and Vodafone.