Greenhouse Takes the Lead in Hiring Work Tech
2,000+ Talent Makers Experience Greenhouse OPEN 22 and the New Hiring Work Tech
More than 2,000 leaders joined Greenhouse at OPEN 22 on May 24 and 25 live in New York City and online from around the world.
This year marked Greenhouse, the hiring operating system’s tenth anniversary and the third year since the last Greenhouse OPEN was able to happen. OPEN is always an exceptionally well-run event with content for Greenhouse customers and non-customers alike. Offering attendees a mix of thought-provoking keynote sessions, Greenhouse product education and training, introductions to new technologies from the expansive Greenhouse partner ecosystem, new strategies, process-focused sessions, and plenty of networking and social engagement. The event, like Greenhouse, is design-forward, focusing on the overall experience for those participating.
The event ran on four tracks. The main stage was where OPEN offered keynote presentations and thought leadership. The “Improve your Tech Stack” track which WorkTech founder George LaRocque hosted for the duration of the event, and two tracks of workshops: The “Collaborative Hiring Workshops” and the “Inclusive Hiring Workshops.”
On the main stage, CEO and co-Founder Daniel Chait kicked off the event proclaiming the rise of the “people-first” company, declaring that the “war for talent” is over – “talent has won.” He then outlined the market shift from human resources to human-focused, from HR tech to work tech, and established Greenhouse’s place as the hiring operating system in the new hiring work tech category. Greenhouse President and co-Founder Jon Stross then gave attendees a view of the future of hiring work tech with a review of Greenhouse’s product roadmap.
Greenhouse announced the availability of a new product, “Sourcing Automation.” A new optional module that allows Greenhouse customers to look up and identify prospect contact information, automate email campaigns, track candidate engagement, and view pipeline health via analytics. This was a natural extension of their recent acquisition of candidate sourcing tool “Interseller.”
Four pillars drive the Greenhouse roadmap:
- Scale: Enterprise-class permissions, automation, and integrations
- Sourcing Strategies: Helping customers find and select the best and most diverse talent
- Structured hiring/DEI: Leveraging structured hiring to mitigate bias in the hiring process
- Accountability: The introduction of goals and SLA measurement from the recruiter to the recruiting team.
Greenhouse OPEN Series: Improve Your Tech Stack - Meet Labor Economist Andrew Flowers of Appcast
Greenhouse OPEN Series: Greenhouse update with CEO Daniel Chait
Greenhouse OPEN Series: Improve Your Tech Stack - Meet Remote a Global Employer of Record Platform
Greenhouse OPEN Series: Improve Your Tech Stack - Meet BrightHire an Interview Intelligence Platform
Greenhouse OPEN Video Series: Improve Your Tech Stack - Meet Guide a Candidate Experience Platform
Greenhouse OPEN Video Series: Improve Your Tech Stack - Meet CrossChq a Talent Intelligence Platform
Greenhouse Analyst Day: Introducing Hiring Work Tech and Global Growth Across All Market Segments
Prior to OPEN, Greenhouse hosted an analyst and influencer day for market analysts and bloggers covering the global recruiting tech market. In addition to the updates shared from OPEN, the Greenhouse leadership team shared a number of company and product updates.
As the hiring market has evolved, accelerated by the global COVID-19 crisis and various societal and tech trends, so has Greenhouse evolved in its approach to its customers, product, and the market. They’ve landed on two concepts that ring true with their “people-first” philosophy.
- Greenhouse views itself as the “hiring operating system.”
- Greenhouse views its category as “hiring work tech.”
They view their role as the hiring operating system encompassing the talent acquisition teams but extending beyond this traditional “ATS mentality” to support the entire hiring team across the enterprise. This also extends to candidate-facing capabilities impacting experience for both sides of the hiring relationship.
While a shift to hiring work tech may sound like market positioning, it also speaks to the cross-function reach Greenhouse strives to achieve and the collaboration across teams, small and large, whether in-house or distributed. This shift to work tech has been underway since the early 2010s, and COVID has accelerated the shape recruiting and HR tech has taken. Making work tech and hiring work tech a current reality and the direction for the foreseeable future.
Along with this evolution, Greenhouse also reported strong global growth. Customer retention has always been high for Greenhouse, and that hasn’t changed. Revenue growth was strong with more than 50% growth in annual recurring revenue (ARR). Customer growth followed suit, reaching 7,000 customers worldwide.
Greenhouse’s growth was spread across all market segments (SMB, Middle, and Enterprise). Since launching with a focus on the SMB and Middle markets in 2012, they’ve been very deliberate as they have scaled up market to the Enterprise. They’ve never been in a hurry to own the entire enterprise market but rather have invested in product enhancements, services, and support models that allow them to move upmarket methodically while not leaving the SMB and Middle markets behind. This is a unique and valuable trait for customers in today’s tech culture of “maximum growth at all costs.”
That being said, they have grown in the enterprise segment by more than 35%, with customers having more than 1,000 employees, and they have several of those customers with tens of thousands of employees. They’ve introduced a professional services team to help with strategy, configuration, and integrations across the enterprise – a team that expects to grow to 100 professionals by year-end. Supporting their growth with customers of all sizes is their new “HRIS Link,” which already boasts hundreds of Workday customers also using Greenhouse.
Greenhouse has also grown globally, opening a Dublin office in 2021. They now have more than 1,000 customers in EMEA, have implemented an in-region data center, and have seen better than 55% ARR growth YoY in the region.
Greenhouse introduced the four product pillars referenced earlier and discussed how their roadmap will help customers achieve scale, speed, and equitable hiring. We expect Greenhouse to continue to invest in these areas with organic product development, strategic acquisitions, and the extension of their robust integrated partner marketplace.
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