RECRUITMENT SOFTWARE MARKET SIZE AND SHARE ANALYSIS - GROWTH TRENDS AND FORECASTS (2024-2031)

Market Concentration and Competitive Landscape

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Stricter compliance regulations

The global recruitment software market is growing due to rising compliance requirements that companies must follow during hiring. With regulations like equal employment opportunity (EEO), anti-discrimination laws, and data privacy becoming stricter across the globe, manual recruitment processes leave much room for error and risk of non-compliance. Recruitment software automates workflows to ensure a fair and transparent hiring process that complies with the legal standards. Features like application tracking, skills-based matching, and structured interviews leave an auditable digital footprint. This makes it easier for companies to defend themselves against any potential lawsuits related to unfair hiring practices. Vetting candidates through online submission and screening at scale also reduces legal liability. Recruitment tools have in-built tools to redact sensitive personal information and store applicant data securely in compliance with General Data Protection Regulation (GDPR) and other local data privacy laws. As compliance mandates get more complex, recruitment technologies provide the structure, controls and audit trails needed to reduce compliance risks for growing organizations.

• ADP LLC
• Bamboo HR LLC
• Bullhorn, Inc.
• Ceridian HCM
• ClearCompany, LLC
• Cornerstone
• Employ Inc.
• IBM
• iCIMS, Inc.
• Jobvite Inc.
• Oracle Corporation
• People Admin
• Recruitee
• SAP SuccessFactors
• SmartRecruiters, Inc.