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Bullhorn’s Global Recruitment Insights and Data Research: 84 Percent of Global Recruitment Firms Say They Must Embrace Digital Transformation to Remain Competitive

BWW News Desk
February 04, 2019

a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwbullhorncom2Fampesheet51934515ampnewsitemid20190204005111amplanenUSampanchorBullhornC2AEampindex1ampmd5fdadac143bfec5ff3a6d019a77946257 relnofollowBullhorna the cloud computing company that helps staffing and recruiting organizations transform their businesses found that 84 percent of global recruitment firms feel the need to embrace digital transformation b bdefined as the integration of technology into all areas of their business for the purposes of improving operations and the way they deliver value to customers to remain competitive According to Bullhorns 2019 a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fgridbullhorncom2F3FLS3DWebsiteLSD3DGRID26LA3DGRID26LAD3DGRIDPR26utmsource3Dpr26utmmedium3Dpr26utmcampaign3Dgridprampesheet51934515ampnewsitemid20190204005111amplanenUSampanchorGlobalRecruitmentInsightsandDataampindex2ampmd5289f80542474f0ea33dc8bd7a2678816 relnofollowGlobal Recruitment Insights and Dataa research 55 percent of respondents believe that artificial intelligence b bone aspect of the digital transformation journey b bwill have a positive impact on candidate and customer engagement pblockquotep idpullquotepblockquote p While firms see digital transformation as an opportunity they also acknowledge it as a challenge Fortynine percent of them rank embracing digital transformation to improve operations as their top operational hurdle ahead of pricing pressure and margin compression 44 percent and increased competition from freelance and gig platforms 27 percent p p Bullhorns Global Recruitment Insights and Data research also illuminates overall optimism for 2019 despite persistent concerns and challenges related to tight talent pools candidatedriven market and economic conditions and macroeconomics and politics Seventynine percent of respondents expect revenue to increase this year p p Despite the fact that an overwhelming majority of firms believe that digital transformation will drive their business further sourcing and acquiring candidates 61 percent is the top priority for 2019 followed by engaging candidates and improving the candidate experience 36 percent Top challenges include tight talent pools and skills shortages and gaps 73 percent accelerating pay increases due to candidatedriven market and economic conditions 38 percent and higher churn rates due to low unemployment 27 percent p p Other key findings include p ul li classbwlistitemmargb bReskilling Workers to Combat Talent Shortages bSeventyfourb bpercent of global recruitment firms believe that reskilling workers represents an effective strategy to combat the perennial skills shortage as it will help to create new talent pools fill key roles and transform lives li li classbwlistitemmargb bUnderstanding the Skills Gapb When asked if firms think skills shortages in certain sectors are better or worse now compared to five years ago more than half 55 percent say they are getting worse li li classbwlistitemmargb bViews on Diversity in Recruitmentb Fiftynine percent of firms agree that diverse organizations are more effective than other ones li li classbwlistitemmargb bExpediting Pay Increases Due to CandidateDriven Market and Economic Conditionsb Seventyeight percent of firms agree that employers must accelerate pay increases in order to compete for qualified candidates and nearly 40 percent say it is one of their top challenges for the year ahead li li classbwlistitemmargb bWorking withb bOnline Talent PlatformsOr Not bFully 60 percent of respondents do not have an opinion about whether online talent platforms will be more helpful or harmful in recruiting talent Only 26 percent of firms think they will be more helpful and 14 percent think they will be more harmful li li classbwlistitemmargb bNavigating the Unpredictable Global Economy bLess than half of firms say they worry about the uncertain economy and future growth of it and only about a third say they agonize about low unemployment rates Twentynine percent say they stress about local and national legislative changes li li classbwlistitemmargb bRecruiting Candidates in the Digital Ageb Millennials are the most difficult generation to reach and engage according to 44 percent of recruitment professionals followed by PostMillennialsGeneration Z 20 percent Only 16 percent of respondents rank Baby Boomers as the most difficult generation to reach and engage li li classbwlistitemmargb bFocusing on People to Achieve Future Firm Growthb The single biggest issue impacting an agencys ability to achieve its future growth goals people Respondents overwhelmingly say finding quality candidates working with the right clients and hiring the right staff matters the most for their businesses to flourish in 2019 li ul p Following a successful 2018 the global recruitment industry continues to remain optimistic for 2019 said Gordon Burnes Bullhorns chief marketing officer While firms will face another year filled with an unpredictable macroeconomic and political environment most are confident in their ability to navigate through these challenges as they continue their journey of digital transformation to drive business growth Now that most companies have automated formerly manual workflows they are beginning to explore artificial intelligence to drive increased productivity to set them up for success in the years ahead p p Bullhorns Global Recruitment Insights and Data research is the result of a global survey conducted among 2185 recruitment professionals from Sept 11 2018 to Nov 30 2018 The findings spotlight the industrys take on the current recruitment landscapefrom financial forecasts and top priorities to persistent challenges and emerging technologies p p To read more about Bullhorns Global Recruitment Insights and Data research visit a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttps3A2F2Fgridbullhorncom2Fampesheet51934515ampnewsitemid20190204005111amplanenUSampanchorhttps3A2F2Fgridbullhorncom2Fampindex3ampmd5bb8c9bcc78e40ffe0cce4d1c8679b641 relnofollowhttpsgridbullhorncoma p p bAbout BullhornbbrBullhorn is the global leader in CRM and operations software for the recruitment industry More than 8000 staffing companies rely on Bullhorns cloudbased platform to drive sales build relationships and power their recruitment processes from end to end Headquartered in Boston with offices around the world Bullhorn is founderled and employs more than 900 people globally To learn more visit a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwbullhorncom2Fampesheet51934515ampnewsitemid20190204005111amplanenUSampanchorwwwbullhorncomampindex4ampmd53c6b9889a144f96dc4173e582359e8e8 relnofollowwwwbullhorncoma or follow Bullhorn on a referrerpolicyunsafeurl targetblank hrefhttpsctsbusinesswirecomctCTidsmartlinkampurlhttp3A2F2Fwwwtwittercom2Fbullhornampesheet51934515ampnewsitemid20190204005111amplanenUSampanchorTwitterampindex5ampmd57999c3d1e3b49e7d1bc9c3d7eff29232 relnofollowTwittera p

SOURCE: BUSINESS WIRE. ©2015 Business Wire


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