Holmdel, NJ, March 22, 2019 (GLOBE NEWSWIRE) — iCIMS has become the leading provider of recruitment technology solutions according to new market share research from Acadian Advisory, an independent research and consulting firm focused on the impact of technology in the workforce.
Acadian’s research found that during the last several years, companies have switched their applicant tracking system (ATS) from technology conglomerates — led by Oracle Taleo and IBM Kenexa, which once controlled the market — to dedicated recruiting technology providers, dominated by iCIMS.
Because of labor shortages and new technologies, employers are aggressively looking for new ways to engage job candidates. In 2018, $4 billion was invested in HR technology — nearly four times what was invested in 2017.
Acadian’s study provides an independent assessment of recruitment technology market share to inform companies who are evaluating their recruitment solutions at a time when, according to the Conference Board’s recent annual global survey, the CEOs’ top priority is now ‘attracting top talent,’ ahead of ‘disrupting technology,’ and ‘recession.’
“We’ve been at the forefront of recruiting for the last twenty years and have seen the pendulum swing from talent management providers with bolt-on recruiting modules to dedicated recruitment solution providers, because the power has shifted to candidates,” said Colin Day, iCIMS founder and chief executive officer. “Legacy tech companies, who always viewed talent acquisition as an afterthought, have failed to keep up at a time when multinationals need to source and engage candidates more efficiently across modern communication platforms. We expect the volume of investment, innovation, industry consolidation and the number of employers switching to best-of-breed providers to accelerate.”
iCIMS’ gain in market share reflects the company’s growth. In 2018, iCIMS delivered double-digit revenue growth for the sixth straight year driven by multinational clients including Penske, Spirit Airlines, and QuickChek.