Talent Acquisition Technology Ecosystem Taxonomy
We’re back again with the next part of our Ecosystem 10 report! For some background, Talent Acquisition Technology Ecosystem is an industry report that we divide into four stages. Each of these four stages consists of various verticals and sub-verticals that more deeply define and describe the current state and future trends of TA tech. While the overall structure of the Ecosystem is the same, many changes have taken place at the vertical, sub-vertical, and vendor levels. We’ve added one new vertical, one new sub-vertical, and consolidated four sub-verticals into two, reflecting the rapid pace of change, innovation, and disruption in the market today. In the first part of our Ecosystem 10, we took a deeper look at the first stage of the Ecosystem, the Source stage. Then, we switched gears and began to evaluate the second stage of the Ecosystem, the Engage stage. After looking more deeply into candidate engagement, we moved to the third stage, the Select stage.
Now, we look at the final stage, the Hire stage.
See what changes and evolutions have been made to the fourth and final stage, the #Hire Stage, of @TalentTechLabs #Ecosystem10 in their latest post: Click To TweetEcosystem 10: Hire
Key highlights and trends regarding applicant tracking systems:
In the ATS Corporations sub-vertical, we’ve seen growing interest from buyers in systems with open APIs and strong partner marketplaces. In the ATS Staffing Companies sub-vertical, there has been interest in adding more robust middle office capabilities for staffing companies and better analytics.
Key highlights and trends regarding deployment platforms:
There’s been a spate of acquisitions in the Deployment Systems space, with leading staffing ATS such as Avionte and Bullhorn acquiring WorkN and Sirenum, respectively. This category has continued to expand as many staffing firms use the technology as the centerpiece of a broader digital transformation and pilot implementations increase in scope.
Key highlights and trends regarding candidate sourcing solutions and management systems:
We predict non-traditional and alternative work arrangements will rise in prominence in the future, and large companies looking for next-generation solutions are increasingly leveraging vendors in the newly introduced Direct Sourcing sub-vertical. These tools help large companies source and manage agency workers without the use of a staffing supplier. While the exact solution space is still being carved out, we believe this is the future of contingent workforce management.
We’ve observed a bit of convergence between the Freelance Management System (FMS) and Vendor Management System (VMS) sub-verticals, as FMS companies such as Shortlist build agency management capabilities, while VMS providers such as Beeline and Fieldglass continue to add FMS-like capabilities. The VMS space is also experiencing a bit of a renaissance, with newer cloud-based platforms such as VNDLY and SimplifyVMS offering agile, cloud-based solutions, bringing a fresh perspective to a legacy industry, and market leaders such as ProUnlimited and Beeline modernizing and modularizing their offerings. Finally, some VMS vendors have taken note of the hourly workforce, with solutions such as JoinedUp and Indeed Flex.
From information about #ATS advancements, #automation, and the use of #analytics when it comes to hiring, @TalentTechLabs 10th edition of the #ecosystem is filled with insights to help you succeed in 2022: Click To TweetKey highlights and trends regarding automation and analytics:
In the API Connectors sub-vertical, vendors are creating middleware to enable automation. Bespoke API vendors are building out-of-the-box integrations for emerging tools that have not invested in 3rd party integrations. One of the most interesting trends in this category is middleware that creates a modern web experience for legacy hiring systems such as Workday and Taleo (which typically have terrible, clunky interfaces), exemplified by InFlight.
Deep analytics is crucial for any well-oiled TA function. We see the People Analytics sub-vertical becoming key in the future. One of the major undertakings by many firms today is creating “data lakes,” which consolidate their different systems and make sense of the noise. This category will be one of the primary utilizers of AI.
Robotic Process Automation (RPA) tools automate activities within and beyond recruiting systems. Traditional RPA is becoming more available to the SMB market with a lower entry cost, and solutions offer a more intuitive user experience that does not require a technical background.
This marks the fourth and final stage of our Ecosystem 10. In the last of our series, we’ll go further in-depth about the evolutions to our ecosystem and what your company can expect for the future.
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