Recruitment marketing and employer branding initiatives to dominate the global talent acquisition and staffing technology and services market
The hiring process – a key precursor of organisational effectiveness – can be a risky and costly process, for both the employer as well as the potential employee. The talent acquisition and staffing technology and services market – encompassing all processes between recruitment to on boarding – deals with the strategies and tasks adopted by an organisation to source, attract, and engage the best talent for the organisation. Analysis of the global talent acquisition and staffing technology and services market highlights favourable trends and is anticipated to grow at a CAGR of 6.25% in terms of revenue during the assessment period 2018-2028.
Recruitment marketing and employer branding to prove crucial in candidate sourcing
Talent acquisition plays an important role in strengthening the growth fabric of organisations. With the economy improving and given the significant low employment rate, candidate sourcing has become a challenge. To overcome this, strategies around HR marketing are being built to impart more control over outcomes pertaining to talent acquisition. Organisational thrust is more on employer branding, brand messaging and employee engagement initiatives to attract and retain the best talent pool. Also, while employer branding plays a very important role in the recruitment process as it provides an identity, image and distinctiveness to the organisation, it also helps motivate, engage and retain current employees.
Recruitment marketing is the practice of attracting, engaging, and nurturing good talent even before the candidates apply for a particular role within the organisation. Today, hiring managers use the power of reporting and analytics and deploy advanced CRM tools to source the best talent in the job market. Recruitment marketers are responsible to tell the company’s story through the right channels for the brand message to reach the target audience, and are also required to measure the effectiveness of their strategies.
Growing impact of social media and increasing adoption of Applicant Tracking System (ATS) to be key drivers fuelling organisational hiring decisions
The increasing use and adoption of modern technology such as analytics, cloud, and big data for talent acquisition and staffing is paving the way for the growth of the global talent acquisition and staffing technology and services market. Individuals have started using smart devices such as smartphones, laptops, tablets, etc., for updating their professional profiles to build an online presence and to search for jobs. While social media technology acts as a marketing tool wherein job seekers can represent themselves to potential employers, it also serves as a suitable job screening mechanism, where employers can use the information available on social platforms to acquire a better picture of potential employees. This data is then analysed by the HR departments of organisations to build a predictive analytics model that helps in sourcing the right candidates.
Marketing and advertising initiatives to witness widespread adoption through 2028
Technology is the most lucrative category type in the global talent acquisition and staffing technology and services market with an estimated market revenue share in excess of 80% throughout the forecast period. However, marketing and advertising – with a projected growth rate of 11.97% during the assessment period – is expected to witness the highest demand in the global market. Organisations are realising the importance of marketing and advertising and are increasingly adopting employer branding, recruitment marketing and job posting activities through different channels to promote the organisational brand in the job market.
This report by Future Market Insights offers a 10 year forecast for the globaltalent acquisition & staffing technology and services market. This study demonstrates the market dynamics and trends globally across the seven key regions of North America, Latin America, Western Europe, Eastern Europe, SEA & Others of APAC, China, Japan and MEA that influence the current nature and future status of the talent acquisition & staffing technology and services market over the forecast period.
This report provides detailed analysis of talent acquisition & staffing technology and services market and offers insights on the various factors like the growing popularity of smart innovations that will fuel the globaltalent acquisition & staffing technology and services market, across key industry verticals. The report includes an extensive analysis of the industry drivers, restraints, market trends and market structure. This market study provides a comprehensive assessment of key stakeholder strategies and imperatives for succeeding in the business.
The talent acquisition & staffing technology and services market is anticipated to witness significant revenue growth during the forecast period, owing to rise in cloud-based platforms to hire the best talent for the organisation and growing impact of social media technology on the recruitment industry.
The global talent acquisition & staffing technology and services market is categorised on the basis of category type, industry type and platform. All segments are thoroughly analysed to understand segmental contribution to market growth. The report also provides a detailed analysis covering key trends and market opportunities.
By Category Type
Point Solution & Sourcing Tools
Recruitment Process Outsourcing
Contingent Staffing Services
Background Screening Services
Other Search Services
By Industry Type
IT & Telecommunication
By Platform Type
Other Internet Platforms
The report further presents a detailed analysis of the global talent acquisition & staffing technology and services market across various countries in each of the assessed regions. It provides a market outlook for 2018 – 2028 and sets the forecast within the context of the talent acquisition & staffing technology and services market, including latest technological developments as well as top offerings in the market. This study discusses key trends within countries contributing to the growth of the global market, as well as analyses drivers that are influencing this market in each region. Key regions covered in the report include North America, Latin America, SEA & Other of APAC, China, Japan, Western Europe, Eastern Europe and MEA.
In the final section of the report, we have included a competitive landscape to provide an objective and detailed comparative assessment of key providers specific to a market segment in the talent acquisition & staffing technology and services supply chain and the potential players for the same. Detailed profiles of providers are also included in the report to evaluate their long-term and short-term strategies, key offerings and recent market developments.
This study leverages in-depth secondary research to determine the overall size of the global talent acquisition & staffing technology and services market along with top industry players and key regions. For collection of relevant market data and insights, our expert analysts have interacted with several key players and stakeholders in the global talent acquisition & staffing technology and services market. This data has then been validated using advanced tools to extract useful insights about the global talent acquisition & staffing technology and services market.