According to Bersin by Deloitte's Talent Acquisition Factbook, organizations spend over $125 billion a year on recruiting services and technology. We estimate that over $85 billion of that is spent on recruiting services ranging from recruiting agencies, job board posting, candidates assessments, background checks, drug testing, tax credit verification, and more to help find better candidates faster.
Given the spending across multiple categories, multiple vendors, and multiple integrations, having a thriving vendor network is a key part of an effective talent generation strategy. Sometimes we describe talent generation as an ecosystem -- a group of different networks that work together to produce the job candidates you’re looking for. Your vendor network is an important part of that ecosystem, and making sure it works efficiently for you will help bring you success in your recruiting efforts.