This report identifies key demand-side trends in the talent acquisition outsourcing space, helping enterprises fine-tune their recruitment strategies and prepare for any future workforce disruptions. It consists of key trends and enterprise challenges in the talent acquisition services space, based on Avasant’s assessment.

Why read this Market Insights?

A series of global phenomena, such as a prolonged, negative economic outlook, the Great Resignation, huge layoffs, and remote and hybrid working, have resulted in enterprises shifting from traditional recruitment to talent acquisition. Companies realize the strategic importance of talent acquisition services and the advantages that they bring with them.

However, organizations still face challenges such as an increasingly widening skills gap, switching from degree-based to skill-based hiring, a lack of process standardization, obstacles in recruiting diverse candidates, and the impact of new technologies such as generative AI on talent acquisition.

The Talent Acquisition Business Process Transformation 2023–2024 Market Insights™ aims to provide a view into important market trends and developments to help build a granular understanding of the talent acquisition outsourcing ecosystem.

Methodology

The industry insights presented in this report are based on our ongoing interactions with enterprise CXOs and other key executives, targeted discussions with service providers, subject matter experts, and Avasant Fellows, analyst insights from primary and secondary research, and lessons learned from consulting engagements.

Table of contents

About Talent Acquisition Business Process Transformation 2023–2024 Market Insights (Page 3)

Executive summary (Pages 4–8)

• • Definition and scope
  • Avasant recognizes 15 top-tier providers offering talent acquisition services
  • Key talent acquisition business process transformation trends

Demand-side trends (Pages 9–18)

• • The talent acquisition function has evolved from being transactional to strategic in nature, driven by enterprise need.
  • The Great Resignation and huge layoffs have led to reduced talent pools and increased cost of hiring.
  • The growth in remote and hybrid working has accelerated the trend of skill-based hiring.
  • Businesses are looking to reduce their dependency on traditional recruitment agencies.
  • Enterprises are outsourcing strategic talent acquisition processes as a part of their talent transformation agenda.
  • The talent acquisition partner ecosystem is growing as enterprises and service providers look to transform the recruiting function.

Key contacts (Page 19)

Read the Research Byte based on this report.

Please refer to Avasant’s  Talent Acquisition Business Process Transformation 2023–2024 RadarView™  for detailed insights on the service providers and supply-side trends.