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Oakland, CA – OCTOBER 13, 2010 -- Bersin & Associates, the leading research and consulting firm focused exclusively on enterprise learning and talent management, today announced that it is empowering its members to meet their business goals by capitalizing on radical changes in hiring procedures with the introduction of a new practice focused on talent acquisition.
Business leaders are rethinking their talent acquisition strategies as they seek ways to improve the quality of hire and reduce turnover. Advancing an organization’s talent management initiatives, including its talent acquisition practices, can cut employee turnover by as much as 25 percent to 50 percent, and the savings in related employee replacement costs can amount to millions of dollars a year. Tight budgets, social networking, an unprecedented volume of resumes, and a multi-generational talent market are additional factors driving this fundamental shift in recruiting and huge demand for new recruiting tools and technology.
Bersin’s new Talent Acquisition practice gives business leaders tools to improve their recruitment and hiring strategies by delivering a combination of business-focused research, benchmarking, case studies, and a range of advisory and consulting services. The Talent Acquisition practice expands Bersin’s WhatWorks® membership program, which already includes corporate learning, leadership development, and talent management practices.
“Despite the high unemployment rate, recruiting today is tougher than ever,” said Josh Bersin, chief executive officer, Bersin & Associates. “The huge influx of resumes, coupled with a lack of mobility in the workforce, makes it more difficult to hire high quality candidates. Compounding this stress, advancements in social networking and sourcing, video interviewing, and new assessment technologies are changing the process of corporate recruiting. These factors are driving growth of a whole new talent acquisition tools market and a heavy focus on employment branding to drive an end-to-end candidate experience.”
Bersin & Associates sizes the market for talent acquisition systems alone at approximately $861 million in 2010, up more than 25 percent from $685 million in 2008.
To reduce cost and time to hire while increasing quality of hire across a multi-generational talent pool, companies are using social media to develop and nurture relationships with viable candidates. In fact, 44 percent of Bersin members rate contact or candidate management as a must-have in their recruiting systems. The audience for these relationships includes applicants, former employees and passive candidates interested in the company. Vendors are responding by meeting customer demand for solutions that replace the resume and third-party (contingency) staffing firms with video tools, job matching and employer branding services.
Bersin & Associates’ new Talent Acquisition practice empowers members to adapt to the changing recruiting environment and drive results through their talent by offering a continually expanding body of research and research-based resources. Topic areas include talent acquisition strategy, sourcing and recruiting, screening and assessment, hiring and onboarding, employer branding, and technology. The practice offers:
“Talent acquisition has changed dramatically over the past few years as organizations are looking to become more strategic with the way they identify, attract and onboard new hires,” said Madeline Laurano, principal analyst covering talent acquisition for Bersin & Associates. “No company can afford a bad hire in today’s business climate.”
Laurano’s recent blog postings have covered topics such as video interviewing, the role of LinkedIn in passive recruiting, and the acquisition of MrTed by Stepstone. Laurano’s latest research, an in-depth analysis of talent acquisition systems and the overall market, is planned for publication in November. This study will be available to all members. Laurano also hosts an active conversation about Best Practices in Talent Acquisition on LinkedIn.
Those interested in learning more about Bersin & Associates’ talent acquisition practice and its WhatWorks membership can email firstname.lastname@example.org or call 510 347 4300. For media queries, email email@example.com or call 415 465 2711.
About Bersin & Associates
Bersin & Associates is the only research and consulting firm focused solely on research in enterprise learning, talent management, and talent acquisition. The company’s WhatWorks® membership program offers actionable guidance, improves operational effectiveness, and delivers business impact to companies in all industry segments.
Bersin & Associates research members gain access to a comprehensive library of best practices, case studies, benchmarks, and in-depth market analyses and research-based services designed to assist professionals in making fast and confident decisions. Members also have direct access to analysts and a wide range of tested tools and models to address both strategic and day-to-day challenges. More than 5,000 organizations worldwide have used Bersin & Associates’ research and advisory services to guide talent and corporate learning strategies. Research areas include planning and strategy, learning programs and delivery, talent management, leadership development and succession planning, talent acquisition, technology and infrastructure, informal learning, social networking, measurement and analytics.
For more information, go to www.bersin.com or call 510 347 4300.