CareerBuilder Says They Will Invest $300 Million into Research and New Product Development

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CHICAGO, Sept. 15, 2020 /PRNewswire/ — Today 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.

“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.”

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.”

Announced today, job seekers will benefit from:

  • A redesigned job search app for iPhone and Android so users can add more profile information, upload multiple resumes and assess how well their profile stands out.
  • Authentication enhancements that make it easier for job seekers to save and apply to jobs.
  • Enhanced privacy settings help job seekers search more securely, giving them more control over what they share and what they receive from companies.

Meanwhile, organizations will benefit from a new interface for CareerBuilder’s Talent Acquisition Suite, so users can get more done with fewer clicks and faster load times. Additional updates include:

  • Further integration between CareerBuilder’s Talent Discovery Platform and companies’ career sites, so employers can seamlessly promote their company culture and their events, with the potential to increase attendance.
  • Easier posting for remote jobs — a critical piece for customers, as CareerBuilder searches for work-from-home jobs have increased significantly this year, up 70% from January through June 2019 compared to 2020.
  • A two-way SMS function so recruiters can reach job seekers via text directly from the CareerBuilder’s Talent Discovery Platform, meeting candidates where they are, on their mobile devices.

For additional information on today’s product updates, read our blog here.

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