“Technology and digital transformation represent a more efficient and cost-effective way of working for staffing and recruitment professionals that will ensure success well into the future. The pandemic merely accelerated what was already inevitable.”
ROCHESTER, N.Y. (PRWEB) May 26, 2021
CEIPAL, an industry-leading talent acquisition automation platform, today released an industry report based on data collected through the CEIPAL & TechServe Alliance IT & Engineering Staffing Dashboard. The report, entitled, “How Technology Determined the Staffing Industry’s Winners and Losers during the COVID-19 Pandemic,” is available for free download at CEIPAL’s website: https://www.ceipal.com/.
With empirical data about the economic performance of staffing companies correlated to the technology adoption rates of those same companies, the survey established a clear and direct link between technology and performance through the pandemic. The study evaluated survey data about each respondent’s technological capabilities and measured the same against key performance indicators (KPIs) from more than 160 participating staffing companies, representing nearly 20,000 IT & Engineering consultant placements. The results showed a clear advantage for staffing firms that relied most heavily on technology.
Key findings include:
- Companies that employed business process improvement technology, recruitment automation, and mobile staffing apps performed almost 25% better than their counterparts on average
- Firms that leveraged marketing and engagement automation technology performed 37% better than competition that did not rely on automation
- Recruitment Automation such as AI-powered candidate matching and ranking, AI-managed resume harvesting, passive candidate sourcing, and SMS and VOIP integrations enabled firms to improve recovery performance by 36% compared to their counterparts who did not
“While many of us in the industry postulated that technology would play a pivotal role in the survival of staffing organizations through the pandemic, this study is the first to use empirical data about business performance and the adoption of HR technology to prove its critical role in terms of both, economic survival and recovery through the current crisis,” said CEIPAL’s Chief Marketing Officer, Peter Velikin. “Based on these compelling results, we can offer three strong and now proven strategies for success within the talent acquisition sector: automate manual tasks whenever possible, invest in business process improvement, and prioritize technology adoption.”
“It’s important to point out that advanced and AI-driven technology isn’t just a band-aid or a prescription for your business to survive through the pandemic,” said CEIPAL Founder and CEO Sameer Penakalapati. “Technology and digital transformation represent a more efficient and cost-effective way of working for staffing and recruitment professionals that will ensure success well into the future. The pandemic merely accelerated what was already inevitable.”
To gain key benchmarking data that measures a company’s performance as compared to industry competitors, any staffing organization can participate in the CEIPAL & Tech Serve Alliance IT & Engineering Staffing Dashboard at no cost by simply visiting https://www.techservealliance.org/monthly-dashboard/ and completing the survey.
TechServe Alliance partnered with CEIPAL to create the IT & Engineering Staffing Dashboard. It relies on a monthly survey of more than 160 staffing companies, representing more than 19,000 job placements, to generate quarterly industry reports. Participating respondents are able to track and compare KPIs, such as gross revenues, candidate submissions, etc., against other players in the industry on a monthly basis at no cost. In this way, users of the dashboard can evaluate the strengths and weaknesses of their organizations and adjust their business practices as needed. Based on the information provided across the industry, the IT & Engineering Staffing Dashboard provides predictive analytics on market trends and opportunities for growth. These analytics help participating firms stay ahead of competitors and make strategic decisions that result in long-term growth. Any staffing firm can access a dashboard personalized to their business. To do so, staffing firms are initially asked to provide a brief overview of their business to date by filling out a 15-minute survey. After this initial data sharing, firms are asked to take five minutes to input data on a monthly basis. The dashboard displays within the staffing firm’s ATS. This report correlates and compares the responses of each participating organization with regard to its technological state to its respective financial performance metrics to objectively determine which technologies are driving real-world business results.
CEIPAL provides a SaaS platform that automates both the front- and back-office business operations of staffing companies. CEIPAL offers a complete workforce management platform, including a fully integrated applicant tracking system (ATS) and human resource information system (HRIS). Founded in 2015, CEIPAL now serves over 1,400 customers and 20,000 recruiters globally. For more information visit http://www.ceipal.com.
About TechServe Alliance
TechServe Alliance is the national trade association of the IT & Engineering staffing and solutions industry. Hundreds of firms and tens of thousands of affiliated professionals, count on TechServe Alliance to keep their leadership informed, engaged and connected. TechServe Alliance serves as the voice of the industry before the policymakers and the national and trade press. By providing access to the knowledge and best practices of an entire industry and its proprietary research tools on key market trends as well as tapping the “collective scale” of its companies, TechServe Alliance supports its members’ success as they deliver best-in-class IT & Engineering staffing and solutions for clients and exceptional professional opportunities for every consultant. For more information visit http://www.techservealliance.org.