Recruitment Technology Aids Human Capital Management
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In its January 2012 Human Capital Management Trends report, Aberdeen Group found that Best-in-Class companies are using recruitment technologies to stimulate employee engagement, boost employee productivity, and improve customer satisfaction. The report outlines how efficient talent management processes drive measurable business improvements.
iCIMS, a provider of Software-as-a-Service (SaaS) talent acquisition solutions for the small to medium-size business (SMB) market, co-sponsored the report.
Aberdeen researched nearly 300 companies to determine how well they were performing on the core business of human capital management, which includes finding, engaging, and retaining talent. The report divided the 300 survey respondents into Best-in-Class (top 20 percent), Industry Average (middle 50 percent), and Laggard (bottom 30 percent). At Best-in-Class companies, 81 percent of employees rated themselves as "highly engaged," 71 percent of positions had a ready and willing successor identified, and there was a 13 percent year-over-year improvement in hiring manager satisfaction.
"Excellence in human capital management results from a combination of strategies, capabilities and enabling technologies," said Mollie Lombardi, co-author of the study and research director at the Aberdeen Group. "The Best-in-Class display a number of common core characteristics, one of which is an investment in world-class technology throughout most aspects of talent and workforce management."
A recruitment technology platform was found to be a key enabler of success for Best-in-Class organizations. A recruitment technology platform is currently in use at 62 percent of Best-in-Class companies, as opposed to 54 percent of average companies, and 46 percent of laggard companies.
The report notes that in 2012, the pressure of economic uncertainty is forcing organizations to operate more efficiently. Organizations looking to achieve the results needed to balance cost savings with quality investments. Recruiting will be measured on both its ability to fill positions as quickly and cost-effectively as possible, and its ability to increase the quality of the hires made.