Big news out of the world of the Talent Acquisition technology. Jobvite, with a major investment from K1 Investment Management, went out and bought three best of breed recruiting technologies:
- Talemetry – CRM, Recruitment Marketing technology
- RolePoint – Employee referral and internal mobility technology
- Canvas – Text-based screening and interview technology
All four of these technologies, separately, I’ve recommended that TA pros and leaders should demo. They are all top rated recruiting technologies on their own.
I think these acquisitions are just one more signal in what we see is a growth of the Talent Acquisition Suite, away from core HRIS suites. The TA Suite of the future is a stand alone tech stack that can become a competitive edge for organizations.
The one part of this acquisition that confuses me, a little, is Role Point. While I love them as a point solution, Jobvite already has Jobvite Refer, so this acquisition seems a bit redundant. I mean Jobvite invented Employee Referral technology. While I’ll agree RolePoint is better than Jobvite Refer, I’m not sure they are that much better tha I would spend millions of dollars to acquire.
I will say that that Internal Mobility is a hot topic in almost every organization, so I’m assuming this is the main reason for the acquisition.
Regardless, I believe this positions Jobvite uniquely in the space to be able to offer an advanced Talent Acquisition suite that no one else in the space can put forth, at this point.
One thing to consider is how other ATSs like iCIMS and Greenhouse (we also see Ultimate Software/UltiPro doing this on the HR suite side) are building out their stacks for their customers. Both have taken the App/Marketplace concept. Think of this like your Smartphone. You buy your base iPhone, and then add the apps you want.
That’s the big question! Will the market want a suite or will they want a marketplace of pre-built integrations that you can select and plug and play?
Both buyers are in the market. We already see the suite buyers who want one enclosed technology that does almost everything they need under one umbrella – what it looks like Jobvite is building with these acquisitions. We also know some buyers love to select specific technologies and somewhat build their own stack, based on their own unique needs. It’s really just positioning, I’m not sure we’ll see one strategy win out ultimately.
Definitely an aggressive move by Jobvite. They were falling behind the market a bit and this will definitely thrust them back into the lead pack. I think we all felt like 2019 would be a great year for acquisitions and Jobvite has come out of the gate making a giant swing!
Hi Tim- We are a small staffing firm in the Hudson Valley, and we listened to your webinar on Can Any Candidates Hear me? and it was excellent! We need more training opportunities to help develop our staff, some of whom have been with this company 12-15 years. Looking forward to more webinars! Best regards, Tony