Does Your Budget Solve These Four TA Challenges?

   |    2 minutes read

Oct 31, 2017

It’s no secret that the traditional hiring process is broken. We are lucky to live in an era where we have technology at our fingertips to help. In fact, it’s overwhelming how many different technologies are available, each claiming to solve different problems. Competing needs are a constant issue in HR budgeting. How do you prioritize where to invest in 2018?

According to PwC’s August 2017 HR Technology Survey, 58% of companies now use cloud-based recruiting solutions, and another 23% plan to do so within the next one to three years.

With the flood of recruiting technology into the marketplace, how do you make smart selections?

Technology that helps solve these top challenges will be key to your organization’s success:

  1. Speed and Efficiency. 62% of senior TA and HR leaders in a 2017 Talent Tech Labs study consider speed-to-hire the top indicator of success in TA tech initiatives. Solutions that improve both speed and efficiency in hiring are highly sought for improving TA performance. And, by keying in on these factors, TA leaders are more likely to win support from company leaders for tech initiatives since speed and efficiency are often linked to cost savings and strategic company goals.
  2. Talent Shortage. 80% of large enterprises identified the talent shortage as their greatest concern. Technology that keeps potential candidates engaged and your company top of mind will set you up for success in 2018. Candidates, especially millennials, are keenly aware of your hiring technology. Why? It says a lot about your company’s culture and outlook on the future.
  3. Candidate Engagement. 46% of respondents in Talent Tech Lab’s study say that keeping candidates engaged is a top challenge. Cloud applications that help TA teams deliver a candidate experience that is simple, fast, convenient and highly responsive to candidates’ desire for information are changing the way employers interact with potential new hires.
  4. Automation of Administrative Tasks, Like Scheduling. Nearly half (46%) of senior TA and HR leaders identify hiring manager scheduling as a top barrier to TA success. Fortunately, many new cloud technologies are focused on automating the many administrative tasks that are part of hiring.’Streamlined scheduling’ for hiring managers and candidates results in improved efficiency and speed-to-hire, plus a simple, more inviting experience for candidates.

Widespread adoption of HR technology is changing the hiring process to such a degree that companies which don’t modernize will soon be left far behind in the competition for talent. When looking at your 2018 budget, make sure you invest in technology that solves top TA challenges and you’ll be set up for success!

If you’d like to learn more, take advantage of our resources on 2018 TA tech trends and solutions large-enterprise TA leaders are using to overcome critical hiring challenges.