The Recruiting Marketplace Is Open for Business
Some HR technology trends start with user demand or a technical disruption and flourish from there. Others come on the scene, get some traction, and then need time for the HR users to figure out where something fits, or for some vendors to get it right.
Such is the one trend we noticed while looking at talent acquisition. A niche market has re-emerged, specifically for managing contingent or retained search professionals and agencies. They have a few different iterations, but we’ll lump them under what we’ll call a marketplace recruiting model.
In our latest industry brief, “Marketplace Recruiting, Vendor Management, and a Peek Into the Future of Talent Acquisition,” we look at why recruiting leaders have been turning to the marketplace model, what will drive even further adoption, and which specific type of iteration currently has the best odds for success.
We also share a few of the vendors currently leading the charge:
BountyJobs: where employers set their price and headhunters deliver candidates
RecruitAlliance: a marketplace providing access to talent from headhunters for a flat fee
RecruitLoop: a new model that feels like a cross between the marketplace model and recruitment process outsourcing
Recruitifi: removes some of the winner-takes-all aspect that’s the norm with contingent recruiting agreements and spreads the wealth among headhunters
The research that led us to this trend is in support of our upcoming vendor landscape reports that are shaping up to offer a unique perspective in their mutual interest for HR technology and service customers and vendors.
We’re seeing a time of great change in human resources and its supporting technology across most all segments. Talent acquisition is always a hotbed of innovation. We expect to see the list of vendors offering a recruiting marketplace model to lengthen in 2015 and some market leaders to emerge. We may even see some HCM and talent management vendors acquire or develop around this concept in the near term just as they have to address similar concepts with the emerging contingent workforce.