CareerBuilder Commits to Three-Year, $300M Talent Acquisition Investment
The HR tech leader unveils latest series of updates that fill needs in The Great Rehire and reduce employers’ cost per candidate
Global HR technology leader CareerBuilder announced several updates to its Talent Acquisition suite, as part of a three-year, $300 million investment. These updates aim to further support the changing needs of companies and job seekers in the current state of The Great Rehire and the long-term future of hiring, by focusing on Talent Acquisition, a $35 billion market that is growing at a rate of 11 percent.
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“Seventy-four percent of companies foresee spend for HR technology increasing over the next 12 to 24 months, with Talent Acquisition and Services representing the largest and fastest growing total addressable market for HR tech,” said CareerBuilder CEO Irina Novoselsky. “We’re doubling down on a market ripe for disruption, an area where our customers are experiencing the greatest need and where we’re uniquely positioned to deliver high-value results.”
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The investment will primarily fuel research and new product development for the company’s innovation in talent acquisition. CareerBuilder will continue to update its technology to ensure job seekers can find the perfect role while providing more streamlined, integrated products and processes for employers to fill jobs more efficiently at lower costs, including the enhancements announced today.
“We’re the only HR tech company with the candidates and the technology, to create a connected experience for job seekers and employers,” said CareerBuilder Chief Product Officer Leigh-Margaret Stull, who was recently appointed into the role following a 10-year career in product innovation senior leadership at CareerBuilder. “Right now, too many point-solution providers add on to employers’ costs, meanwhile companies are losing qualified candidates in multiple system hand-offs. For candidates, the experience is painful too — unnecessary layers feel cold and cumbersome. Our goal is to remove friction and, simply, connect people to jobs.”
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