The adoption of digital transformation has exploded over the past few years. Now, a whopping 84% of agencies say they either have a digital transformation strategy or a plan in place.
From 25% to 84% in two years
Digital transformation is the use of digitisation, automation (and eventually AI) to change the way businesses operates. According to Bullhorn’s Global Recruitment Insights & Data (GRID) report, the subject is higher on recruitment agency’s agenda’s than ever before. Just two years ago in 2020, a mere 25% of firms reported the use of a digital transformation strategy or plan. Now, that very same number has skyrocketed to 84%.
Bullhorn see it as a fast-track to revenue growth. “Agencies with a digital transformation strategy in place were more likely to report revenue gains in 2021 and are more likely to anticipate revenue growth in 2022”, the report states.
What’s stopping them?
So what’s stopping the 16%? According to report, it boils down to a lack of resource availability and resource management plans as the most common obstacle. Moreover, speed (or lack thereof) is cited as another primary reason. Along with a lack of planning and acceptance and adoption. On the other side, firms that have succeeded in a digital transformation, see the benefits in increased recruiter productivity, faster responses from clients and candidates and more seamless talent matches.
Automation is key
In terms of where the automation takes place, sourcing is the clear-cut number one with 48%. Screening comes in second with 45%. Candidate submittal and calendaring are joint-third with 44%, while patrolling (29%). VMS (22%) round off the top six. “Given the importance of talent acquisition, agencies that automate sourcing may find themselves at a strategic advantage in 2022”, the report concludes.
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