I hope that all of you had record breaking quarters to start off your 2014! What an exciting time in recruiting and technology. I've been in the industry since 2007 and it's looking like we are finally on track to get back to pre-recession un- employment numbers. There were 8.8 million private sector jobs lost in the last recession and it's because of you recruiters that we were are tracking to replace all of the jobs lost and achieving the lowest un-employment rates since 2009. You don't get enough credit for doing a very difficult job.
Technology has also played a major part in connecting qualified, active job seekers to recruiters with matching opportunities. I'm sure all of you can appreciate the number of sales calls and marketing campaigns launching the next best tool in recruiting. As we listen to our clients, we find that much of recruiting strategy has stayed consistent over the last 20 years, but the ability to do more with less is really where technology has impacted the process. We are tracking overall decreases in time to hire and increases in number of reqs assigned per recruiter. Weird right? You would think that you would be able to do one or the other, but both are happening at the same time. We attribute this to advances in recruiting technology that can be put into 4 buckets:
1. Time Savers - saves you time on a task or process
2. Money Savers - saves you money on a tool or task
3. Quality Increasers - increases the quality of your applicants or your ability to target better talent
4. Quantity Increasers - increases the volume of your applicants
There are many tools that can be put into one of these buckets, and if you are lucky, 2 or more. But watch out, the big 3: LinkedIn, CB and Monster continue to snatch up new players in the market before they become contenders (i.e. Identified, Bright, TalentBin and even Klout). All of those acquisitions came within 45 days of each other. Who knows if they are going to be the same post acquisition.
TextRecruit had a big month helping clients save time and increase the amount of active, interested candidates. With just a soft launch in March, we were able to sign up 95 new customers, activate 135 users and had 4 very awesome bloggers write about the product. The messages sent generated a 28% response rate. We are very excited about the opportunity to continue to deliver solid products that solve real business needs.
Thanks for reading and have a killer Q2.
CEO @ TextRecruit