Cloud services drive uptake of recruitment software
The cloud has rapidly emerged as a major trend underpinning the success of new software, including in the recruitment field. In fact, the ability to store and access these programs completely over the internet is expected to become a major driver of future growth for the sector over the coming years.
That's according to the most recent research from MarketsandMarkets, which expects global demand for talent management to increase substantially in coming years. This sector is expected to achieve a compound annual growth rate of around 16 per cent between now and 2019.
In dollar terms, this will involve the sector growing from the US$5,270.3 million (AU$6,851 million) recorded in 2014 to more than double, reaching US$11,367.0 million (AU$14,778 million) in 2019.
Cloud technology is also supporting the development of the recruitment software industry. The main benefit companies are seeing here is that the software makes it possible for smaller organisations to access the same powerful tools that have historically been exclusively used by larger firms.
As cloud technology widens the base for talent management software, companies are going to continue investing in this valuable tool.
According to the study, this technology has further benefits for businesses, stating that: "Talent management is more than just attracting and retaining talent. It is about building and enhancing employee potential which automatically supports the organisations in meeting the goals and objectives."
"Thus building an organisations' capability to manage talent has allowed existing talent systems to be integrated and aggregated into one dashboard providing companies with a single view of their aspects related to talent."
Clearly cloud technology is going to play a continued role in the deployment of recruitment software. With the sector expected to see ongoing growth as companies deploy this technology further, the future is looking bright for organisations considering a flexible software solution.