If there’s one word that sums up the recruiting market today, competition must be the one. Today, companies engage themselves to attract and seduce high-potentials, leaving the latter in a comfortable position where he or she can choose between different employers. What’s more: the economic uprising of the last few years has created a boom in open positions. Now more than ever, companies need a recruiting tool that efficiently tracks and attracts potential candidates and manages open positions in a way that recruiters aren’t lost in information.
HR technology innovations
Looking at the future, there’s a couple of trends lurking on the horizon, as pointed out by Josh Bersin in his piece on HR technology innovations for 2018:
- Candidates smarten up about the company
- Hybrid job descriptions
- Diversity as a core part of recruiting
Be that as it may, but how does SAP SuccessFactors readies itself for above tendencies?
The Recruiting suite in SuccessFactors already caters to a performant recruiting process: the Marketing solution ensures an attractive positioning of vacancies, while the Management suite enables clients to effectively track progress in the recruiting process.
To tap into the market tendencies in the short term, SAP has now planned a candidate relationship management (CRM) solution within the recruiting module which is released in the Q2/2018 version on 2 June 2018.
This tool will enable customers to manage a pool of passive candidates, thus making the recruiting process more effective by reducing cost and time per hire. What’s more: customers will be able to search for talent, rather than talent searching for companies. Obviously, this is not new, but by developing a dedicated tool for candidate management, SAP provides a solution for nurturing and follow up on talent on a more strategic level. It will become easier to find and attract talent based on hybrid requirements (strategic competencies and capabilities) and to incorporate diversification in the recruiting process.
Thinking long term
Thinking long term, SuccessFactors Recruiting plans to incorporate a deepening of the new CRM solution, with which they may shift the focus of the recruiting process from company-focused to candidate-focused: to maintain an effective pool of candidates, companies will need to define strategic values in the form of competencies that are applicable to candidates and in turn, candidates should be able to identify themselves with these values. As functionalities that remain company-focused, predictive analytics are also on the agenda as well as a solution for high-volume hiring. Both developments need to provide an answer to the challenges that the recruiting process faces today and in the future.
So, Is SAP SuccessFactors ready for the future?
In a rapidly changing environment such as the recruitment world, I think we can safely state that SAP SuccessFactors is ready for the future. By realizing that customers require a solution which is focused on attracting the best person for the job instead of merely providing a recruiting tracking tool, SuccessFactors provides a recruiting suite that is likely built to last a long time.
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