Recruiting Most Common Function to Be Managed by Third-Party Technology
The Institute for Corporate Productivity (i4cp) maintains an ongoing database of trends, highlights and other happenings in the workforce technology space. This database, called the InfoBank, is available to Technology Commons members, allowing them to check the pulse of the industry and stay on top of this ever-evolving field.
Here is one such item from the Workforce Technology InfoBank:
Companies tend to handle compensation and incentive processes internally, while increasingly turning to outside technology to support functions such as succession planning, learning management and recruiting. Watson Wyatt Worldwide’s 2007 HR Technology Trends Survey found that among the 182 mid- to large-sized companies that responded, recruiting was the function most likely to be handled by third-party technology, with 19% using a purchased internal application and 35% using a software-as-a-service (SaaS) solution. For learning management, 22% used an internal software solution, while 40% used an external solution – split evenly at 20% between purchased applications and SaaS. Both compensation administration and annual pay and bonus delivery were handled internally by about half of the respondents, while little more than 20% used external solutions for either function. The survey also showed that SaaS is emerging as dominant over installed software. For each of the HR functions surveyed, two to three times as many companies plan to adopt a SaaS solution by 2009 than are planning to purchase an installed application.