Over the past year, several of our clients took part in major mergers or acquisitions. Looking forward, it appears that this volume of activity may continue after reading J.P. Morgan’s 2016 M&A Global Outlook Report that predicts a rise in the overall number of deals.
When two companies merge, or one acquires another, many challenges begin as different cultures, philosophies, and methods are combined to form the “new normal”. For Talent Acquisition Leaders, that means trying to combine two distinct recruiting cultures and, most likely, two separate recruiting software vendors.
Having lived through this first hand with a long-standing client, here is a look inside their recent acquisition and the steps they took to determine the best recruiting strategy moving forward.
Our client is in the Financial Services industry, and does business globally in over 30 countries. Last year they were acquired by a much larger organization, increasing the total employee count to nearly 60,000 doing business in 100+ countries. The two companies used different Recruiting Solution providers.
In order to begin the process of deciding how best to move forward with one clearly defined recruitment process and recruiting solution vendor, each TA team prepared a detailed presentation and demo of their current process and solution provider. These presentations were executed via a roadshow to all of the Senior Executives, Finance, IT, and most importantly the Talent Acquisition team at their new acquisition organization. Each organization collected feedback, likes and dislikes, and made their choice for how best to move forward.
At the end of the process, our solution was selected as the recruiting vendor of choice. It was fascinating to learn what pieces of our solution had the strongest perceived value over one of our major competitors. It also showed us the priority areas of focus for many like-sized recruiting organizations. These are the features that were selected as most important:
- Scalability/flexibility: As a global organization, being able to quickly and easily scale and create customized workflows was critical to being a nimble recruiting organization.
- Candidate Experience: With a competitive marketplace and the balance of power shifting to candidates, providing a powerful candidate experience has become a major piece of recruiting today. A powerful and fully mobile compatible career portal was a must.
- Robust Database Search Capabilities: Being able to access and mine their existing candidate database was important and a critical tool in speeding up their time to hire metrics.
- Mobile Functionality: Candidates, recruiters and hiring manager’s each need access to full mobile capabilities in the recruiting process. Anytime, anywhere access via any device is critical to keeping the process moving.
In the end, PeopleFluent’s solution was selected over our major competitor. What we learned is that a strong relationship combined with a powerful and flexible recruiting solution allowed us to win in this head to head battle.
What we also took away is that mergers and acquisitions will continue to take place, and we need to continue to offer an innovative and scalable solution that can meet the complex needs of a global recruiting organization – especially one that is growing through merging or acquiring other firms. PeopleFluent Recruiting is that innovative solution worth considering
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