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Author: David Mario Smith
Topics: Collaboration, Social HCM
Issue: Who are the social HCM providers and how will they compete?
Summary: HireVue fills a gap in the video recruiting space by acquiring Reschedge to add scheduling capabilities.
Event: On January 9, 2014, HireVue announced the acquisition of Reschedge, a provider of interview scheduling software. Financial terms of the deal have not been disclosed. This is another in a string of recent acquisitions.
Analysis
The Reschedge acquisition is intended to make the process of scheduling interviews more seamless. It comes right after a patent acquisition of CollaboRATE’s hiring decision engine, which is designed to improve interview collaboration, feedback and analysis. Both of these moves will bolster HireVue’s Talent Interaction Platform.
HireVue has been on the forefront of the recruiting space, and was noted as a Leader in the recent Aragon Research Globe for Video Recruiting. We believe HireVue recognizes the need to add adjacent capabilities as market consolidation continues.
Suite providers such as Saba and PeopleFluent have entered the space, adding video recruiting capabilities to their talent management suites. They are putting pressure on many standalone players as they leverage their enterprise reach.
The Reschedge acquisition gives HireVue advanced scheduling capabilities integrated into Outlook and Google calendars. With these recent acquisitions, HireVue also gets reporting features, which provide data and insight into the interview process for HR professionals. Relevant analytics and critical insights have emerged as core requirements for HR professionals engaged in talent acquisition and management.
HireVue’s move to round out its platform fits with some key critical trends in talent acquisition. These include:
- Engagement, to empower candidates as well as hiring managers
- Real-time interaction throughout the recruiting process on any device
- Integration with social networks and other sources for a larger, more diverse talent pool
- Relevant insight and analytics to make better hiring decisions
Challenges and Opportunities
As with any acquisition, integration will be a challenge during the transition period. But the greater opportunity will be a better-rounded platform that will solve issues in all the phases of the recruiting process.
Also, given the immaturity of this market, HireVue needs to craft a clear story for HR business leaders, with targeted messages around specific issues in the recruiting process.
Aragon Advisory
- Existing and prospective HireVue customers should get a clear statement from HireVue about what recent acquisitions mean to its technology roadmap.
- Use the Aragon Research Globe for Video Recruiting to understand the dynamics and vendors in this market.
- Consider the HireVue portfolio and platform as an end-to-end video recruiting solution with relevant reporting and analytics abilities.
Bottom Line
Video recruiting is an emerging video-enabled business application (VEBA) that should be at the forefront of any talent acquisition strategy. HireVue’s recent acquisitions show that its strategy will focus on the entire recruiting process.