Recruitment Marketing Platforms Market - Overview
Recruitment marketing is the process of branding, where the employer is presented as a brand via job ads, social media, paid media, etc. to attract new talent. Nowadays, Internet-savvy job seekers use online platforms in their search for opportunities. A powerful employer brand can play a vital role in convincing a candidate to work for the employer. This is giving rise to the use of recruitment marketing platforms. Recruitment marketing is the tactical implementation of strategies that allows a firm to find, attract, and engage job hunters in order to inspire a further qualified application. Human resource management (HRM) departments of companies have amplified their marketing efforts in order to attract candidates with rare skills. Recruitment monitoring platforms make the recruitment process easier by attracting relevant and suitable candidates.
Recruitment Marketing Platforms Market - Key Players
The key priorities of talent acquisition managers while planning their investments in recruitment marketing practices are to improving the experience of candidate, investing in pre-hire assessment, increase diversity efforts, and to gather candidate feedback. Various tools such as applicant tracking system (ATS) and recruitment marketing software are available in the recruitment marketing market. However, they differ in their features and capabilities. ATS or applicant tracking system is used as a post application tool and is a solution for managing applicants/candidates who have applied for a job. Recruitment marketing software is used as a pre-application tool and is a solution for managing leads. Leads are candidates who are or may be interested in the company, but are not set to apply straight away.
Data analytics is a significant driver of the recruitment marketing platforms market. The human resource management departments of companies are becoming data oriented. They try to measure and track the effectiveness and efficiency of their recruitment marketing actions with the help of real-time visual analytics. They monitor the process from the stage of sourcing a candidate until hiring and filling up a vacant position, in order to optimize recruiting performance.
Recruitment Marketing Platforms Market - Segmentation
The global recruitment marketing platforms market can be segmented based on component, end-use industry, enterprise size, and region. In terms of component, the recruitment marketing platforms market can be categorized into software and services. The software segment can be further classified based on deployment into on-premise and cloud-based. The services segment can be divided into professional and managed services. Based on enterprise size, the recruitment marketing platforms market can be segmented into small- & micro-sized enterprises, medium-sized enterprises, and large-sized enterprises. Recruitment marketing platform solutions offer integrated functionality for small, mid-sized, and large companies. Small- and micro-sized enterprises are companies have an employee strength of less than 200. Medium-sized enterprises are firms with an employee strength of 200-500. Large enterprise are establishments with more than 500 employees. The rate of adoption of recruitment marketing platform solutions is expected to be high in large enterprises. In terms of end-user industry, the recruitment marketing platforms market can be segmented into BFSI, retail and consumer goods, IT & telecom, health care and pharmaceuticals, government, education, manufacturing, and others (automotive, food & beverages, etc.).
In terms of region, the global recruitment marketing platforms market can be classified into North America, Asia Pacific, Europe, Middle East & Africa, and South America. The recruitment marketing platforms market in Asia Pacific is expected to expand at a rapid pace during the forecast period, due to a rise in the number of mid-sized and small enterprises in the region that are adopting recruitment marketing platforms.
Recruitment Marketing Platforms Market - Key Players
There are several technology platforms that can help HR managers to get started with recruitment marketing. An increase in the number of market players indicates rising rivalry among them in the near future. Key recruitment marketing platform providers are International Business Machines Corporation (IBM Kenexa), SmashFly Technologies, Oracle Corporation, KRT Marketing, Inc., Talent Nexus, HireClix, Google, Talent Technology Corporation, Avature, SAP SE, Jibe, and Jobvite.
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