Talent acquisition specialists are increasingly coming to see the value of incorporating advanced recruitment technology to streamline the hiring process while automating away some of the mundane tasks from the job.
The global human resource technology market size was valued at USD 24.02 billion in 2021, and it is expected to reach a value of USD 35.68 billion by 2028, at a CAGR of 5.8% over the forecast period 2022–2028.
In a recent survey by SkyQuest on human resource technology market and use case among large and mid-level businesses, 81% of respondents said that they are using some form of HR software, and 78% said that their company uses or plans to use HR technology to improve performance reviews, communications, and tracking of employee development.
Applicant tracking systems (ATS) are automated programs to manage the recruiting process, from receiving applications to hiring employees. This software also enables automated messages be sent to candidates confirming receipt of their application or that online tests were administered. A hiring manager can schedule interviews or rejection letters can be mailed through the ATS. All of this information can reach payroll through the system, should a candidate be successful. All of these features can help your organization create automated processes, achieving efficiency through the use of technology.
Recruitment technology developers have turned to artificial intelligence (AI) to screen candidates during the application process. AI also assists with diversity, as chatbots ask objective and performance-based questions, without biases. Your company can take advantage of these features throughout the whole hiring process.
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