By Peter Weddle, CEO TAtech
They have very different business models and images in the marketplace. And, they mostly play very different roles in the support they provide to recruiters.
So, why should AI-based talent solutions connect and work with job boards?
The answer to that question isn’t inconsequential. In fact, it may well determine the bottom-line success of both businesses.
It’s reasonable to be skeptical. Job boards are seen as old tech (and sadly, some are), while AI-based solutions are the technology of the future. From a state-of-the-art perspective, they’re oil and water. But, here’s the thing: That distinction is a red herring. What’s most important is that they both are businesses in the TA solutions market.
That market is clearly undergoing a fundamental redirection. It is not a return to a pre-pandemic state or even to the market of just two years ago. It is a brand new reality. Recruiters no longer have the time or inclination to cherry pick products for each of their technology needs. In effect, now more than ever, they are limiting their acquisition plans to multi-capability solutions. They want help with two, three or more of their needs from a single source.
And, that’s why AI -based companies and job boards should collaborate. If they want to be in the game, each has to be able to play more than one position. Because that’s what the customer wants, and that’s what the competition is already selling. They need to offer recruiters a multi-functional solution that is a credible alternative to the big end-to-end HR platforms that claim to do everything.
Seats are going fast at TAtech Europe & The EMEA Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
A Portfolio of Products
The best AI solution – job board partnerships have a unique and important customer value proposition. They provide a combination of capabilities – products for candidate connections, engagement and acquisition alongside products for candidate management, assessment and communications – that are each best-of-breed. Stacked up against those end-to-end HR platforms that do everything but nothing extraordinary, they’ll win every time.
In addition, such partnerships often expand the number of customers that can be reached with that value proposition. Not all partnerships are well designed, but those that are enable each company to tap into the other’s existing and prospective relationships, producing the quintessential win-win-win outcome. Customers benefit from the partners’ multiplicity of capabilities, while both partners see their respective customer base grow.
Which begs the question: If such partnerships are so beneficial so beneficial, why aren’t more job boards and talent tech companies setting them up? There are a number of reasons:
• Lack of time – it takes a lot of homework and outreach to identify potentially good-fit prospective partners.
• Lack of access – cold calls and email messages seldom get the door open for meaningful discussions.
• Low level contacts – when connections are made, they are seldom with decision-makers, which makes doing a deal more difficult and time-consuming
Those barriers mean that these partnerships almost always happen by serendipity – by a chance meeting here or there. That’s one way to do it, of course, but there is a better approach. Spoiler alert, a shameless plug is coming: The more efficient and effective way to build B2B partnerships is to capitalize on the Deal Center at TAtech industry congresses. These venues are specifically designed to facilitate senior level partnership discussions, product integrations and marketing joint ventures as well as investments, mergers and acquisitions.
Are they effective?
Absolutely. At this past June’s TAtech North America, for example, over 1,000 meetings were held in the Deal Center during just a day-and-a-half. Our next Deal Center will be held during TAtech Europe & The EMEA Job Board Forum, which is coming up in Paris on September 17-19. It will pull together hundreds of job board and talent technology CEOs and their direct reports, so provide the right level of contacts all in one place and all at the same time. That makes it the perfect venue for establishing business-building partnerships.
Food for Thought,
Peter
Peter Weddle has authored or edited over two dozen books and been a columnist for The Wall Street Journal. He is the founder and CEO of TAtech: The Association for Talent Acquisition Solutions.