Why iCIMS’ Acquisition of TextRecruit is a Big Deal
When you think about iCIMS, “risk taker” might not be the first thing that comes to mind. But the NJ-based provider has demonstrated its ability to push the envelope and drive change more than many of its Silicon Valley peers. And its recent acquisition of TextRecruit, the mobile recruiting platform, is no exception. Colin Day, CEO, has taken significant risks over the past 10 years, including turning down investors and potential acquisitions in favor of organic and consistent growth. iCIMS has taken risks with its messaging, marketplace, and products – including moving away from an integrated Talent Management suite in 2012 to refocus on strategic talent acquisition.
iCIMS understands that Talent Acquisition is complex enough to deserve its own suite of solutions and its own conversation. Its acquisition of TextRecruit continues this commitment to helping companies attract and recruit talent.
If you are unfamiliar with TextRecruit and wondering what this means for Talent Acquisition…here are a few reasons why we think this is a big deal:
- Product Leadership: iCIMS is much more than just an ATS. By announcing that TextRecruit will continue to operate as a wholly-owned subsidiary, servicing and integrating with other systems based on their clients’ needs. It is expanding its customer base and leadership in Talent Acquisition.
- Enterprise Market: iCIMS, like many other next generation Talent Acquisition systems, has been making a play to move up market. TextRecruit, with over 400 enterprise customers (including several existing iCIMS clients) gives iCIMS more credibility in the enterprise market.
- Candidate Communication: According to research Aptitude Research Partners conducted in 2016, 47% of employees are not even opening their emails from HR departments. Companies need to find new ways to communicate with candidates via text, AI, and chat. TextRecruit will give iCIMS’ customers that option.
- Market Consolidation: Consolidation is inevitable for Talent Acquisition. Companies are using too many providers to do too much of the same thing. iCIMS is the first provider to make a significant acquisition and setting the stage for end-to-end Talent Acquisition.
iCIMS’ strength is in its deep expertise in Talent Acquisition and its exceptional customer service. As it continues to move up market and expand with this new acquisition, maintaining strong customer satisfaction and high customer retention will be challenging but critical to its continued success. 2018 is already proving to be an interesting year in Talent Acquisition technology.