4 mins, 5 secs read time
Greenhouse was named a Core Leader in Fosway’s new 2023 9-Grid™ for Talent Acquisition, strengthening its position by moving to the top of the Core Leader quadrant. The report is evidence that the talent acquisition (TA) market in Europe remains resilient, even after facing challenges of economic uncertainty.
This is the third year Greenhouse has secured an upward trajectory in this market research report. With over 1,000 customers in EMEA and more than 29 million applications processed for European-based customers, we’re helping European and global organizations successfully build and evolve their hiring strategies.
Talent acquisition teams need to prepare to hire for what’s next, and there’s an acute need to focus on process improvements around candidate experience, onboarding in a virtual world and building a strong foundation of structured hiring to win top talent.
The results of the new 2023 Fosway 9-Grid™ for Talent Acquisition report uncovers both larger market trends and who these key players are. Being named as a Core Leader in the Fosway 9-Grid™ is a reflection of Greenhouse’s commitment to and development within the EMEA region, serving companies of all sizes.
The Fosway 9-Grid™ is EMEA’s premier five-dimensional model. Unlike other analyst models, it focuses on talent acquisition solutions relevant to Europe-based international enterprise-scale customers.
A few things we learned from the report
The report highlights a few key talent acquisition trends. Here’s how they align with our products and point of view, and how you can use Greenhouse to ensure you’re staying successful.
The next Great Resignation is coming – companies need to focus on improving their employee value proposition
While passive candidates are less likely to change jobs during a recession, high inflation rates push candidates to search for jobs with higher pay. And the report shows that “20% of companies have weakened their employee value proposition (EVP)” – hindering their ability to attract top talent. The most successful companies will use this time to improve their EVP by developing talent attraction and retention strategies, preparing for sustainable growth and building an always-on structured hiring process with software like Greenhouse. This way, when the market turns, they’ll be one step ahead.
Software that promises success with AI should be approached with caution
The report had a strong focus on AI, with some caution expressed.These practices are under scrutiny, and legislation is being developed to ensure compliance with EU legal and ethical standards (EU AI Act). For this reason, reducing bias in hiring decisions cannot be left solely to providers that promise its success through AI. Structured hiring creates the guardrails to ensure that technological advancement is supported through thoughtful, evidence-backed, human input.The foundation of structured hiring includes creating interview kits, documenting interviews and responses and conducting responsive candidate communication which provides all candidates with a fair and consistent evaluation based on their skills and experience.
Onboarding can be a company’s secret weapon in talent
Leading companies will use hiring software that supports all aspects of the interviewing and onboarding processes to improve the experience for all – from hiring managers to recruiters to candidates. According to the report, nearly 60% of companies are changing their approach to flexible working in 2023, which means they’ll continue to feel the challenges of virtual onboarding.
Greenhouse Onboarding (and new features like Greenhouse Goals for New Hires) enables new hires to become productive, engaged and active members of the company faster.
Innovation is having a huge impact on talent acquisition technology, and it is speeding up. In only three years we have seen a big leap forward in what vendors are able to provide their customers.
– David Wilson, CEO, Fosway Group
The average number of integrations per customer continues to increase
The best hiring tech stack is the one that works for your company. There is no definitive mix of tools that can work for every size, stage or category of company. Fosway emphasizes in its report that TA buyers are continuing to add integrations to their hiring tech stack. A well-stocked, seamless and customized integration ecosystem is no longer a nice-to-have, it’s essential. Greenhouse has cultivated the largest partner ecosystem that includes over 450 unique partners. Our customers are offered free and open APIs that allow them to solve for every step and dimension of their hiring process. In 2022 we added over 60 new integrations including Microsoft Dynamics, Oyster, Paylocity and Sapia.
We are excited to be part of the Fosway grid because it is the definitive assessment of TA and HCM systems in EMEA. Fosway is the leading, third-party research firm in the region and a trusted advisor to thousands of global organisations searching for the right technology.
Want to explore more of the key talent acquisition trends for 2023? Learn more about the 2023 Fosway 9-Grid™ here.