Fosway Group, Europe’s #1 HR industry analyst, has released its new 2024 9-Grid™ for Talent Acquisition. Despite ongoing budget pressure in many organisations, the talent acquisition (TA) market in Europe is standing tall despite economic headwinds.

This year’s research finds that Specialists are battling it out with both TA Suites and HCM vendors in the Large Enterprise sector of the market. But more often than not, Specialists, focusing on experience and automation, end up augmenting TA Suites or TA modules from HCM Suites to deliver more effective outcomes. Competition in the mid- and lower segments continues to increase and buyers where local players with a lower total cost of ownership are also proving effective choices.

The 2024 report highlights other key talent acquisition market trends, including corporates consolidating their ecosystem in the upper part of the recruitment funnel and high corporate interest in AI-powered TA solutions. The report also explores solution trends, including the expansion of generative and conversational AI into TA and the evolution of more effective programmatic advertising.

AI continues to dominate the talent acquisition discussion. For corporates it is a real point of interest and exploration. But vendors it is the dominating story, with Suites and Specialists alike embedding Gen AI and other AI tools across many parts of their offering, all seeking a competitive advantage and transforming their potential value for corporates.

“The TA market was an early adopter of the potential of AI. Many corporates are already on board using it in selected use cases and that is scaling rapidly,” said David Wilson, CEO, Fosway Group. “But it is the next wave of AI solutions that will provide TA with dual powers in intelligent automation and augmentation. For now, key interactions will remain strictly ‘human-in-the-loop’.”

Das Fosway 9-Grid™ für Talent Acquisition bietet Markt- und Lösungseinblicke für Einkäufer auf dem europäischen Talent Acquisition Markt in einer Zeit des beschleunigten Wandels und der Innovation. Die Analyse von Fosway bietet eine Bewertung der Lösungen, je nachdem, ob sie Teil einer Talentakquisitionssuite oder ein Spezialist für bestimmte Teile des Rekrutierungsprozesses sind, wie z. B. Bewerbererfahrung, CRM, Mitarbeiterempfehlungen und Onboarding.

Die Studie wurde mit Hilfe des Corporate Research Network von Fosway erstellt, dem mehr als 250 Unternehmen angehĂśren. Ihr Ziel ist es, die Angebotsoptionen, die Unternehmen zur VerfĂźgung stehen, zu entmystifizieren und HR-Teams zu helfen, bessere Kaufentscheidungen zu treffen, wenn es um Investitionen in ihre TechnologielĂśsungen geht.

Lead analyst on the 2024 9-Grid™ for Talent Acquisition, Sven Elbert, added, “Economic uncertainties have heightened competition, and also sparked a lot of movement on pricing. Now seems like a really good time for corporates to consider re-evaluating the market.”

You can download the full report here.