In August 2015, unemployment in the United States fell to 5.1% – the lowest rate in over seven years. Over 173,000 new jobs were added and many Americans who were left jobless a few years ago now have an opportunity to find work. While a strong job market is positive for the U.S. economy, it also creates a sense of fear for any talent acquisition department. With more jobs to fill, recruiters have to attract the best people in a very short amount of time- a challenge for even the best recruiters. According to research conducted by McKinsey & Company, 40% of companies that plan to hire next year said they have had unfilled openings for six months or longer because they cannot find qualified applicants.
Technology can play a major role in helping organizations improve efficiency and manage an increase in hiring needs. But determining what providers to select is not as simple as it used to be. In January 2016, we will publish our first Aptitude Index talent acquisition report that will profile the leading talent acquisition platforms and how they are helping companies improve efficiencies, the candidate experience and the quality of hires.
Looking through the lens of the customer journey, from organizational readiness to ongoing improvement, the aptitude index looks beyond product capabilities and gets after differentiators that you wouldn’t find on a demo or a solution provider’s website.
Below are some of the differentiators we are exploring:
- Product Capabilities: features and functionality
- Customer Support: resources dedicated to the customer
- Services: training, implementation, change management, and post-implementation
- Research and Development: investment in the product
- Leadership: leadership of the company, including background and staying power
- Employee Retention: continuity of client relationships
- Delivery Models: on-premise or SaaS
- Financial Viability: growth potential and exit strategy
- Domain Expertise: heritage and expertise in talent acquisition
- Partnership Philosophy: approach to integration and partnerships
- Customer Satisfaction: sentiment and mood
We will be posting updates are we go through this process and collect data and information.