Insights We Gained from the Aptitude Research 2023 Talent Acquisition Buyer's Guide

Aptitude Research publishes an annual Talent Acquisition Buyer's Guide. Per their description: 

This report is the definitive guide for companies looking to navigate the talent acquisition (TA) technology landscape and improve the way they evaluate providers. It serves as a resource for anyone interested in learning more about the trends impacting technology and the requirements critical to making decisions. It is designed to help companies look at the big picture of technology and plan for the next 12 to 18 months.

It’s a comprehensive, incredibly valuable report we at HiringThing utilize to gauge the talent acquisition technology landscape. 2023’s version is robust as ever, clocking in at 60 pages. We know not everyone has the time to dig into that lengthy of a read on top of their other professional responsibilities, so we wanted to share the insights we found most helpful. 

According to the Society for Human Resource Management (SHRM), talent acquisition deals with “the strategies, tactics, and processes for identifying, recruiting, and retaining the human resources a company needs” for sourcing, recruiting, hiring, and orienting talent. That includes technology that helps with recruitment marketing, onboarding technology, learning management systems, and applicant tracking systems, like the one we develop and run here at HiringThing. 

2023 Talent Acquisition Technology Insights 

Companies are Investing More in Talent Acquisition Technology 

• In 2022, 73% of companies increased their investment in talent acquisition tech.
• 52% of those companies plan to increase their spending in 2023.

Our Takeaway: Hiring is a top challenge right now and businesses are investing to solve that challenge. 

The Ways Companies are Investing in Talent Acquisition Technology Can (and Should) Shift 

• 50% of companies found their leadership has been more invested in making decisions around technology investments over the past few years. 
• On average, a company invests in more than ten different technology solutions as part of its recruiting strategy. 
• 50% of companies measure the ROI of the talent acquisition technology investment. 

Our Takeaways:

• Leadership is understanding—or needs to understand—how transformative digitizing and automating the hiring process can be for an organization. 
• Ten tech solutions is a few too many—app fatigue is a thing and wastes valuable time—companies that consolidate their HR tech and HR tech that offer consolidated solutions are the ones who’ll thrive. 
• HR tech users: measure your ROI! HR tech providers: give them the tools to do so! 

Getting Better-Quality Hires is a Top HR Tech Priority

The top reasons companies invest in HR tech include: 

• Improving the quality of hires (70%).
• Better speed and improved efficiency (68%).
• Improving the candidate experience (62%).
• Decreasing bias (31%). 

*In both 2021, and 2022, efficiency was the top reason for investing in talent acquisition technology. 

Our Takeaway: Quality of hires is the key reason for investing in HR tech, and 78.5% of applicant tracking system users say ATS usage has improved the quality of their hires. 

When It Comes to Applicant Tracking Systems, Functionality is Key

• 20% of ATS users are looking to replace their applicant tracking system, and the top reason for replacement is consolidating providers. 
• 50% of applicant tracking system users wish their platform had more functionality.
• Only 3% of ATS users use all the functionality in their ATS. 
• When asked how they chose an applicant tracking system vendor, 52% said the functionalities provided, and 50% said customer service. 

Our Takeaways: 

• ATS providers: onboarding is key! Ensure all your users know how to work their product fully. 
• Applicant tracking systems with high functionality integrated alongside other core business functions are a hot ticket right now.

HiringThing is the purveyor of a private label applicant tracking system—businesses purchase and customize our ATS to their specifications and then sell it to customers as a proprietary, in-demand solution. Want to know more? Set up a chat with one of our business development representatives to see if a high-functioning ATS can help grow your organization. 

About HiringThing

HiringThing is a modern recruiting platform as a service that creates seamless hiring experiences. Our private label applicant tracking system and open API enable technology and service providers to embed hiring capabilities from sourcing to onboarding. Approachable and adaptable, the platform empowers anyone, anywhere, to hire their dream team.