Recruiter.com Group, Inc., a leader in on-demand recruiting solutions , today announced it has completed the acquisition of the Novo Group, Inc. (the “Novo Group”), a company that provides flexible talent acquisition to a wide array of customers, including life sciences, manufacturing, and consumer goods.
“We couldn’t be more excited to bring the Novo Group to Recruiter.com, combining a trailblazing recruiting technology solutions platform with a leading-edge talent acquisition practice,” said Evan Sohn, CEO of Recruiter.com. “Together, we’ll define the future of recruiting, creating the on-demand and flexible experience that enables every employer to recruit talent and scale up and down with demand swiftly. The acquisition adds fuel to our rapidly growing on-demand recruiting segment, which already showed 88% sequential quarterly growth in the second quarter of 2021.”
“We’ve learned over the past year that the way employers recruit talent is dramatically changing,” said Michael McElherne, COO of Novo Group. “Together with Recruiter.com, we will give both large and small employers a way to react in real-time to their talent demands, with flexible, scalable solutions. In the on-demand world of the virtual workplace, we are excited to offer a compelling solution that matches the urgent nature of talent resourcing needs.”
As Recruiter.com’s CEO recently discussed on CNBC’s “The Exchange,” the country’s ongoing labor shortage should create a “phenomenal market for talent acquisition professionals and recruiters,” with people looking for help from recruiters to help fill the vast amount of open roles with companies. General market data supports this trend, with outsourced recruiting and talent acquisition expected to reach $14.4 billion by 2027, growing at a CAGR of 13.8%, according to a report by ReportLinker on the segment, with the current U.S. market estimated at $1.7 Billion in 2020. Recruiter.com’s platform, which provides both technology and on-demand recruiting services, addresses this demand.