Enterprise Insights

December 2018

Welcome to the first edition of Enterprise Insights!

This monthly digest contains the latest industry news, useful information from our marketplace partners, and ideas and insights from Bullhorn. Keep reading or click below to scroll down to a topic that catches your eye!

Industry News: Must-Read Articles about the Workforce Ecosystem

  • The impact of artificial intelligence on the hiring process - unorthodox hires and, maybe, lower pay
  • U.S. temp staffing revenue growth is at its highest level in three years
  • A new McKinsey report finds that artificial intelligence could have profound impacts on the global economy

Marketplace Milestones: Updates from the Bullhorn Marketplace

  • TextUs Adds Additional Voice Capabilities to Its Product Suite
  • The Rise of Chatbots in Communicating and Engaging with Candidates

Around the Horn: Ideas and Insights from Bullhorn

  • Mythbusting: 7 Deadly Myths About VMS in Staffing and Recruitment [VIDEO]
  • If Robots Hold the Keys to New Talent Pools, What Will Recruiters Do?

Industry News

Must-Read Articles about the Workforce Ecosystem

 

The impact of artificial intelligence on the hiring process - unorthodox hires and, maybe, lower pay:

The power of such technology will be immediately apparent to any employer scrambling to fill jobs in a tight labor market. The article is an interesting read. “But recent advances in a form of artificial intelligence known as deep learning have made the machines used by some companies, like Eightfold and the online job hub ZipRecruiter, far more powerful. Instead of simply scanning words on a page and matching them to words in a job description, a machine can now identify skills and aptitudes that don’t explicitly appear on a candidate’s résumé.” READ MORE

 

U.S. temp staffing revenue growth is at its highest level in three years:

It grew 11% year over year in October. The healthcare and industrial sectors showed a lot of promise. “The latest report also found the net proportion of firms reporting an increasing trend in new orders rose to 51% in October — up from 47% in September and higher than the last 12-month average of 46% for this metric. In a bullish sign, a net 65% of IT staffing firms and 54% of healthcare staffing firms reported an increasing trend in new orders. In October, this metric was higher than its 12-month average for IT staffing firms and staffing firms serving the healthcare industry, while it was lower than its 12-month average for industrial staffing firms and staffing firms serving the manufacturing industry.” READ MORE

 

A new McKinsey report finds that artificial intelligence could have profound impacts on the global economy:

Specifically, it has the potential to incrementally add about $13 trillion by 2030 to the current global economic output. “‘If delivered, this impact would compare well with that of other general-purpose technologies through history,’ notes McKinsey. ‘Consider, for instance, that the introduction of steam engines during the 1800s boosted labor productivity by an estimated 0.3 percent a year, the impact from robots during the 1990s around 0.4 percent, and the spread of IT during the 2000s 0.6 percent.’” READ MORE

Marketplace Milestones

Updates from the Bullhorn Marketplace

 

TextUs Adds Additional Voice Capabilities to Its Product Suite

TextUs has added voice capabilities, which enable click-to-dial and auto note-taking to add efficiency into its product suite. READ MORE

 

The Rise of Chatbots in Communicating and Engaging with Candidates

Marketplace leader Nina Eigerman provides guidance on staffing’s need for technology to scale candidate communications and increase engagement. One of the primary methods to increase responsiveness, collect candidate information, and scale conversations? Chatbots. READ MORE

Around the Horn

Ideas and Insights from Bullhorn

 

Mythbusting: 7 Deadly Myths About VMS in Staffing and Recruitment [VIDEO]

There are many misconceptions about VMS in the staffing industry. We surveyed the largest staffing and recruiting firms in the world to bust some of the most common myths and to see how they overcome operational challenges. WATCH THE VIDEO

 

If Robots Hold the Keys to New Talent Pools, What Will Recruiters Do?

This article explores the impact of automation on the future of work, the staffing industry, and how it’s helping recruiters to access new talent pools amidst a skilled talent shortage. “The new world of work inextricably involves new technologies, and while candidates may love many of them, recruiters may not. But global staffing industry leaders and experts know digital transformation —the integration of technology into all areas of a business for the purposes of improving operations and how companies deliver value to customers—is paramount to future success. And they agree: recruiters must embrace technologies that automate the recruitment lifecycle if they want to gain access to new talent pools and remain a viable option for clients in an increasingly competitive industry.” READ MORE

We hope you enjoyed the inaugural edition of Enterprise Insights.

Stay tuned for more exciting content next month! In the meantime, let us know if there are any particular topics you’d like us to cover: enterpriseinsights@bullhorn.com.