Technology in Recruitment Process Outsourcing - Enabling a Paradigm Shift
The global talent landscape is in the midst of a paradigm shift. Economic, demographic, technological, and individual preference trends are evolving rapidly. The US$2.6 billion Recruitment Process Outsourcing (RPO) market has naturally been strongly impacted by these trends. Enterprises are grappling with new imperatives such as a holistic workforce sourcing strategy comprising permanent & contingent workers, long-term strategic demand management, capability to hire innovative business-critical skills, and adeptness at managing talent that expects to be treated as a customer rather than as traditional employees. Such enterprises are turning to RPO service providers for assistance and, in response, service providers have tried to up their game with investments across multiple elements of their RPO solution.
Technology has emerged as a key solution element driving transformation for RPO providers as well as enterprises as they adapt to the new rules of talent acquisition. This viewpoint examines the current technology landscape dominated by Applicant Tracking Systems (ATS), point solutions, and reporting & descriptive analytics. It also describes how technology is evolving into a more impactful avatar and producing next-generation benefits for enterprises through advanced predictive & prescriptive analytics, Robotic Process Automation (RPA), and cognitive intelligence-based technologies.