Disruption is rife in every industry, and recruitment is no exception. Technology giants like Microsoft and Google have moved into the job markets in recent years, and the recent acquisition of Glassdoor by Recruit (Indeed’s parent company) signals further shifts in the industry.
For employers of every size, it’s important to understand how the market is changing, and how this will affect employers and job seekers.
The changing landscape
In the media, a recent flood of stories signals the ongoing changes in the recruitment space. Arguably, the shift started in 2016 with Microsoft’s acquisition of the professional social network-turned-job-board, LinkedIn.
Now Google has entered the game. The company recently announced the launch of Google jobs in Canada which will enable job seekers to filter their search by title, commute distance, and time commitment from within the Google search engine. Following the introduction of the feature in the US in 2017, Google says 60% more employers showed jobs in the search engine, helping to connect more job seekers to the right opportunities.
Google has also announced a partnership with the Toronto-based MaRS innovation hub, which promises to launch a platform in 2019 to help job seekers “future proof” their careers. The team is looking to work with AI developers to help applicants analyze their existing skills and preferences so they can better chart their ideal course.
Most recently, news broke of the $1.2B acquisition of Glassdoor by Recruit, the Japanese parent company of Indeed. Together, the two sites dominate the job listings market in the US. The acquisition will mean changes for both employers and job seekers alike.
Disruption = Opportunity
Change can be challenging, but it also offers many opportunities. We believe disruption helps all parties in the ever-changing job market.
Much of this disruption will cause the recruitment space to become more centralized. This will make it easier for people to find jobs—especially as increasingly slick search functionalities and search engine optimization helps match the right people to the right opportunities. The consolidation of job listings will likely mean changes to how Applicant Tracking Systems (ATS) and talent management software integrates with platforms like Indeed and Google, although this remains to be seen.
For employers, these changes underline the growing importance of employer branding. Indeed and Glassdoor both emphasize transparency and the importance of providing candidates with insight into employers. A recent survey by Indeed found that:
- Insight into company reputation is important for 95% of job seekers
- Inadequate online presence provokes automatic distrust for 70% of job seekers
- 69% doubt a job is real if they can’t find information about a company online
This trend means that companies should continue to focus efforts on treating candidates like customers. A carefully controlled internal job site may not be able to mitigate the damage of negative reviews on Indeed, Glassdoor, and Google if this becomes the default way for candidates to find and vet roles.
It seems certain that the disruption is far from over. New technology continues to shake the recruitment space, and the impacts of AI have yet to reach their peak. It might feel like a challenge to stay ahead in this rapidly changing space and in an increasingly competitive job market.
Mindfield is committed to embracing change and bringing our expertise and the best innovations to clients so they’re always one step ahead. Learn more about partnering with us here.
Mindfield is a Recruitment Outsourcing solutions provider that partners with companies to create powerful hourly workforces. Our solutions combine a recruitment team, simple to use technology and a data-driven hiring strategy that promises to improve the quality of your hourly workforce. This approach focuses on tying business outcomes such as sales performance, tenure, and engagement to the selection, hiring and measurement of quality candidates.