SmartRecruiters Hiring Success Journal

The Rise of the Recruitment Marketplace

5 Reasons to centralize recruitment services and vendors in one place

Talent acquisition professionals typically wrestle with an unwieldy variety of systems in their war for talent. Besides core recruitment systems (often an old-fashioned ATS), they deal with job boards, video interview tools, background check vendors and candidate assessments. Using this tech menagerie is inconvenient, as they aren’t easily integrated to the ATS, all of which translates into extra clicks and duplicate data entry.

Salesforce faced a similar problem in 2006 with sales and lead management processes, leading to the creation of their AppExchange. The idea was simple: offer sales professionals a Marketplace with a variety of apps that were seamlessly integrated to the core Salesforce platform. All of sudden, customers could deploy sales productivity apps in minutes. Well, AppExchange hit the mark of 3 million installs this past April. Now that’s a milestone!

Today, in an era when acquiring talent can be more complex and competitive than acquiring clients, it’s time for TA professionals to ditch their old-fashioned ATS for a Talent Acquisition Platform that also provides a centralized ecosystem of easily deployable vendors, without any integration pains. It’s time for them to have a Recruitment Marketplace.

5 Reasons Why

1. Multiple screens and logins are an efficiency killer.

Switching back and forth from your ATS to your other vendors’ windows, inserting different log-ins and retyping fields harms your productivity. It also becomes painful when you need to track when a candidate finished a video-interview to manually move him to the next step of the hiring process.

An ecosystem of vendors pre-integrated to your TA Platform saves that pain. For example, you can deploy different assessments with a click of a button, without leaving your current window, and automatically trigger the next step of the hiring process.

2. Avoid integration nightmares.

Working with a new recruitment service vendor can be very costly for your HRIT team. For example, changing a candidate assessment vendor might mean months of work to build an integration to a traditional ATS. This not only means more implementation costs, it also limits talent acquisition teams from easily switching vendors.

A Recruitment Marketplace eliminates those barriers. Everything is seamlessly integrated, which allows recruiters to switch vendors or try different services.

3. Track your spending and ROI.

Being more efficient is only provable if you can track your numbers, which a centralized vendor marketplace allows you to do. As all your spending is done inside the core Talent Acquisition Platform, you are able to effectively track your cost-per-hire by knowing exactly how much you spent on job board advertising, assessments, background checks and more.

4. Get the right data to optimize your strategy.

This is the holy grail of the Marketplace. As your core Talent Acquisition Platform gathers data from different vendors and jobs, it is able to give you insights through predictive analytics. For example, you can get answers on what job boards are recommended for a specific job, or what is the predicted number of applicants you can expect for each job board.

5. Access to cutting edge recruitment tools.

An Open API in the Marketplace allows developers to constantly build new apps on top of the Talent Acquisition Platform, enabling a pace of innovation never before seen in the industry.

If you are a talent acquisition professional looking for a mind-blowing Recruitment Marketplace, there is finally hope! The new SmartRecruiters Marketplace, built on top of the modern SmartRecruiters TA Platform, is the first integrated marketplace in the TA industry. It allows customers to find and deploy TA tools in a way that they never imagined before, and all at click of a button.
You can learn more about the SmartRecruiters Marketplace here. Let me know what you think.

Jerome Ternynck

Jerome Ternynck

Jerome Ternyck is the Founder & CEO of @SmartRecruiters, your workspace to find and hire great people.