I love technology.
It has become the center of my work – not only in how I do my work, but the space where my work resides and thrives. For the many years that I have been involved in recruiting, I have had the great opportunity to witness the rapid uprising and adoption of technology and also how it has benefited the recruitment industry. The benefit has become so imperative that we now have a vital and necessary digital recruitment industry. The old vestiges of recruitment still exist – good recruiting tactics still rely upon human interaction and the ability to engage with a candidate/applicant or client/hiring manager. But today, even this, human interaction, cannot be done the way it was done just a mere ten years ago.
My Early Days: Good Old Human Interaction
When I first started recruiting, the fax machine was the latest and the greatest way to secure a winning candidate. A resume in hand meant I had a chance of filling an open role. This is no longer the case, as resumes fill the cloud and online profiles have replaced walls of filing cabinets where coveted resumes once lived. The times have changed; technology has made sure of that. So, as technology speeds the recruiting process and social media changes how we communicate in business and life, will we see a resurgence of good old human interaction or will that mystical and mythical interaction be replaced by a megabyte here and a XML feed there?
We ceaselessly yearn for a deeper understanding of current technology – what is hot and now – and how will change my job, my life. Last year’s multiple pronouncements of what is fantastical about The Cloud and Big Data leads us to analysis – predictive analysis that shines a bright light on where we need to be and what we can do better.
A Speeding Train of Information
My voice excitedly and happily presents webinars in Mobile Recruiting Technology or the 5 Hot Recruiting Technologies, I host a weekly internet radio show, and my fingers fly across the blogosphere making sure “real life” stories are still being told to benefit the hiring industry. And while I yearn for a deeper understanding of current technology, the speeds with which technology changes incessantly precludes me from ever catching that information train. It races past me on tracks made of clouds where big data is no longer a road block but now an “I think I can” approach to predictive analysis and the Little Engine That Could? Well, he not only could, he did. And it seems continual, that other Little Engines are merged, purchased, and acquired…
M & A
The HR Technology Mergers and Acquisitions on our right, left, and around every corner prove where interested buyers with much sought-after investment money go to work (and sometimes to rest) these days. One of the most thorough and regularly-updated list of human resource technology funding, mergers, and acquisitions dating back to 2004 can be found here. Noted Merger & Acquisition activities in 2012 proved that HR and Recruiting Technology interest is alive and well, at least in the wallets of larger tech companies looking to either expand their services and software offering or simply dominate their particular field of interest.
What does this mean for the industry?
And while this appears to be a good thing – investment in technology usually is, investors are quick to point to winning combinations or share early ideas and initial roadmaps. What happens when a smart tech company gets swallowed up by a major corporation? Are burgeoning ideas lost? Are long-standing relationships – relationships which proved the value of that tech company to begin with – neglected or axed in the process? Is exciting new tech shelved because corporate red tape and bureaucracy gets in the way? Time will tell which companies invested and then, managed their investments wisely. Time will also tell which companies are simply playing Monopoly and slowing buying up the board.
Tech Development Pushed on with a Purpose
In December of 2011, Gowalla – a young and thriving mobile location tech competing with Foursquare – was purchased by Facebook. Only three months later, Facebook announced Gowalla’s shut down. Facebook had squeezed all it could out of Gowalla, keeping only a few key employees.
I am proud to say that companies like Evenbase have a different idea. Digital recruitment technology evolves swiftly because the drivers demand it, the drivers being recruiters always looking to do their job quicker & better, and of course, the jobseekers who need & want a job now. Tech development is pushed on with purpose. This isn’t a game board that needs to be swept. It is an industry that needs to be made whole – whole in purpose and whole in the fantastic technology behind the work that supports that purpose.
And The Work is Everything.
Hit list of 2012 M & A activity in the Recruiting/HR Tech Space
(take a look at a more in depth look at M&A activity in HR tech by clicking here.)
- Arbita closes its doors, and Broadbean Technology takes on its clients
- SAP acquires Datango for undisclosed sum
- Oracle Buys Taleo for $1.92 billion
- TalentTech acquires HR Integrations LLC for an undisclosed amount
- Ceridian purchases Dayforce for undisclosed amount
- Kenexa Corporation acquires OutStart for $38.9 million
- Deolitte acquires HR Technology Consultancy, Aggressor for unknown dollar amount
- Cornerstone OnDemand buys Sonar6 for $14 million
- Saba purchases HumanConcepts for undisclosed amount
- Evenbase acquires Jobrapido for undisclosed amount
- StepStone acquires Totaljobs for undisclosed amount
- AllCountJobs purchased by Operations Inc. for undisclosed amount
- Bullhorn Software acquired by Vista Equity
- IBM Buys Kenexa for $1.3 billion
- iCims buys JobMagic for unknown dollar amount
- Oracle buys SelectMinds for unknown dollar amount
- SkillSoft purchases MindLeaders for an undisclosed amount
- CareerBuilder purchases EMSI for an undisclosed amount
- Indeed.com is purchased by Recruit Co. Ltd for undisclosed amount
- Appirio acquires HCM consultancy Knowledge Infusion. Amount undisclosed
- Doogstand acquires JobFox for undisclosed amount
- Bullhorn acquires MaxHire Solutions Amount undisclosed
- Bullhorn acquires Sendouts. Amount undisclosed
- Beyond.com acquires Jobcircle.com for an undisclosed amount.