The number of Americans filing for unemployment benefits hasn’t been this low in nearly 45 years, according to the February 2018 Labor Department report. As the labor market tightens, expectations of faster wage growth are on the rise and the competition for talent stiffens. Recruiters like you need every tool at your disposal to navigate this highly competitive terrain, and today, those tools are more complicated than ever before. As the HR technology market grows, and more players join the space, we’re seeing a new category emerge called, “recruiting automation.”
Recruiting automation aims to make recruiting a faster and more data driven process, which means you can automate your simple tasks and get back to the highly strategic recruiting work. The graphic below gives you a clear picture of the recruiting automation software market and all the tools available:
SourcingCompanies include: Entelo, Sourceress, Hirtual, HiringSolved, Zensourcer, Topfunnel, Arya, Jobjet, and SeekOut
Sourcing technologies automate the process of identifying and engaging with passive candidates. These companies leverage cutting-edge technology to aggregate and analyze data about candidates’ skills and experience then match them to job opportunities. These solutions also automate candidate outreach and follow-up to increase engagement.
Candidate Screening and ExperienceCompanies include: Mya, Olivia (Paradox), AllyO, Ari, Ideal, and goHire
Candidate screening and experience technologies leverage automated chatbot technologies to automate candidate screening, applicant status updates and other aspects of the candidate experience, helping companies to provide a streamlined, consistent and scalable interface to individuals considering employment opportunities.
Interview SchedulingCompanies include: Clara Labs, GoodTime.io, and X.ai
Interview scheduling technologies are automating the scheduling process. These companies offer the promise that one of the most tedious parts of the hiring workflow, scheduling candidates for interviews, can be largely automated via their technology.
Candidate Relationship Management ("CRM") / Recruitment MarketingCompanies include: Smashfly, Beamery, Avature, PhenomPeople, Yello, Telemetry, and Ascendify
Candidate relationship management (“CRM”) / recruitment marketing technologies help companies maintain relationships with candidates on an ongoing basis (vs. simply when applicants are in an active interview process).
Applicant Tracking System (“ATS”)Companies include: Taleo, Jobvite, Workday, Greenhouse, Ultimate Software, Lever, SilkRoad, SAP SuccessFactors, SmartRecruiters, ADP, Bullhorn, iCIMS, Workable, Kenexa, and JazzHR
Applicant tracking systems (“ATS”) are used to manage the interview process once a candidate becomes an applicant for a specific job. Not all ATS software leverages intelligent technology, but the more modern vendors heavily leverage artificial intelligence and machine learning to automate the process and improve both the candidate and recruiter experience.
Assessments, Interviewing and Background ChecksCompanies include: HireVue, Pymetrics, HackerRank, Convey, Wepow, Intelligo, Codility, TripleByte, Checkr and Koru
Assessments, interviewing and background check technologies are an area of tremendous innovation when it comes to around evaluation of candidates for employment fit. Vendors help customers administer coding tests to identify top developers, test for non-technical attributes that lead to better hires, administer video interviewing, and automate the background checking process.
Candidate Rediscovery and Ranking
Companies include: RestlessBandit, VolkScience, Brilent, Twine, Uncommon, Clearfit, and HiredScore
Candidate rediscovery and ranking technologies are a newer segment of recruiting automation technologies which leverage AI and machine learning can help companies better understand who has applied for their jobs and help them to uncover good fit candidates who might be already present in their ATS or CRM.
Do you want to learn more about what recruiting automation is, how it can be leveraged and why your company should adopt these new technologies? Join us at the Recruiting Automation Summit this June in San Francisco and walk away an expert!