The recruitment industry is not dead. As a matter of fact, it is growing more in value as recruiters focus on outcome-based solutions that positively impacts the business. Instead of just relying on a single approach, they use various methods to improve their performance-- including the use of recruitment software.
To add to that, everyone is digitizing their HR process to be more efficient and competitive in finding the best candidates. With the right tools and technologies, companies are utilizing modern advances to bolster their workforce to its highest potential.
The recruitment software market worldwide is expected to reach $3 billion by 2027
If you’re second guessing the potency of recruitment software, don’t. Research shows that there will be a massive and continual increase in its value, growing at a CAGR of 6%. That is a big jump considering that it is currently estimated at $2 billion.
That’s on a global scale. China is expected to reach a market size of $641.6 million in seven year’s time, trailing a CAGR of 9.5%. On the other hand, other countries such as Japan and Canada have projected growth to 3.3% and 5.7% CAGR respectively over the same period.
What do these numbers mean? Simple: recruitment software is here to stay and is only going to be more valuable moving forward.
Factors that influences the growth of recruitment software
Optimizing recruitment process for survival and success
Take advantage of people’s desire to cope with the pandemic. More than ever, businesses will not rely on just one approach, but will try various ones to find out which one will work best.
Showcasing the effectiveness and efficiency of recruitment software will increase the chances of garnering more users. With the right features and a compelling branding, it will be easy to persuade them to optimize their recruitment process and ensure profitability.
Businesses seek help for remote hiring because of physical limits
Recruitment trends foresee that remote hiring will slowly be adapted over the next five years. It makes sense, too. Since people are going digital, why be constrained by borders?
When companies conduct remote hiring, it actually allows them to reach untapped potentials, promote diversity & company culture, increase employer branding, and many more.
The use of ATS will help recruiters in this regard. Such software, like Manatal, lets recruiters get a wider reach across multiple channels within seconds. To add to that, its email integration aids in centralizing communication and nurturing engagements.
The need for better and more modern tools and technologies
Acquiring state-of-the-art tools and technologies is extremely sustainable and scalable for both HR Professionals and the company itself. Such assets help them adapt better and simplify work to allocate resources to other projects.
Let’s take Manatal as an example. It has a career page builder, which is fully customizable to tailor to job vacancies accordingly. It also has a smart candidate recommendation system that presents talents best suited for the role. You can click on this link to know more about what Manatal can do.
It will be helpful to find a recruitment software that has an all-in-one solution that utilizes a wide array of tools in its whole recruiting process.
The use of recruitment software is still undeniable, and reports will prove that time and time again. Companies may start off with traditional methods, but eventually will resort to modernizing their ways to improve business performance.
Despite the unknown, it is the future. Recruitment software bolsters the workplace to ensure success and further stimulates adaptability for survival. Don’t miss out on opportunities and strengthen the core of your company today.
Click here to read more of our insights on recruitment and HR technology, or here to explore our 14-day free trial.
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