A weekly summary of trending news & commentary for busy talent acquisition technology execs and professionals.
“Most recruiting leaders simply haven’t taken the time to calculate the damage resulting from a weak process for rejecting applicants. But Virgin Media did. And it found that nearly 2/3 of rejected applicants became ‘detractors’ (they spoke negatively about the firm). Up to 15 percent of applicants who were also simultaneously customers quickly stopped being customers. And thanks to the groundbreaking work of Graeme Johnson, we know the total cost of the damage at Virgin Media was over $5 million, and it was over $14 million at British Telecom. And those dollars of damage don’t include the recruiting loss of hundreds of thousands of applicants who may be so discouraged after their initial rejection that they would never reapply for a job at your firm, even though they initially liked it. And of course, don’t forget to add the ‘missed opportunity costs’ that result from failing to use this huge database for positive marketing purposes.
No other business function rejects more individuals who ‘liked your firm’ in a non-data-driven and more callous way than recruiting.”
Dr. John Sullivan, Does Your CEO Know You’re Rejecting Tens of Thousands Who Like Your Firm?, November 27, 2017
Job Boards & Social Media Sites
Jobg8, a global provider of solutions for Job Boards, has launched an email job alerting service which maximizes the effect of push technology to broaden a job’s reach. The new service provides candidates with more job matches and what’s more the job board gets paid for the privilege. Candidates expect to be alerted when a matching job has been posted and email alerts are not usually much further away than the job seekers phone in their pocket. Pushing job alerts to candidates has become such an important channel for job boards to reach their candidates that up to 50% of candidate responses to a job posting are the outcome of a candidate receiving an alert. Source: Recruiting Headlines
Visage, a San Francisco, California-based startup that says it is reinventing candidate sourcing, raised $1.5 million in seed funding. Investors include Urban Innovation Fund, GrowthX, NewFund, and FundersClub. According to the site, it “enables employers and recruiters to crowdsource qualified candidates at a fraction of the time and cost. Through our data science and crowdsourcing, we identify and engage with qualified candidates for your job openings. No more sourcing, no more back-and-forth emails ….”
Sourcing, Matching, Assessing, Communicating (SMAC) Technology
Moneo.io has launched, calling itself “the world’s first blockchain talent agency that enables organizations worldwide to hire high-end, experienced blockchain freelancers, from coders to marketers, and pay both their fee and the freelancers themselves in bitcoin via Moneo’s secure, escrowed payments platform.” Phew, that’s a mouth-full. Blockchain technology is being seen across every sector from finance and gaming through to law enforcement and healthcare. According to a recent report, the market will create annual revenues of $45 billion by 2027. The benefits of this decentralized technology are “widely accepted,” but the main challenge to making it a reality continues to be the lack of expertise in blockchain implementation. And much of that expertise is part of a digital nomadic tribe that eschews the standard corporate environment—which is where Moneo comes in. Source: OnRec
AI & Machine Learning
Beyond Genuine Stupidity – Ensuring AI Serves Humanity, a new book from Fast Future Publishing, explores how Artificial Intelligence could have impacts across every aspect of our world – highlighting practical strategies to ensure a positive overall impact for humanity. The reality is that AI will almost certainly impact current sectors and jobs – and hopefully enable new ones. A smart approach requires us to think about and experiment with strategies for adopting and absorbing the impacts of AI, encompassing education systems, reskilling the workforce, unemployment and guaranteed basic incomes, robot taxes, job creation, encouraging new ventures, research and development to enable tomorrow’s industries, and dealing with the mental health impacts. Source: OnRec
Standards & Best Practices
TAtech: The Association for Talent Acquisition Solutions announced that attendees at both its signature conference in Europe – TAtech Europe 2018 – and its spring industry conference – The TAtech Spring Congress & Meetup – will receive complimentary advance copies of the Final Reports of the TAtech-RealMatch Global Recruitment Advertising Survey (the only such survey that covers both employers and publishers) and the TAtech-reThinkData Survey of Applicant Tracking system Companies. These one-of-a-kind research reports provide an unprecedented window on the current status of and best practices in two important segments of the online talent acquisition solutions industry. In addition, the agendas at both conferences will include moderated discussions of the findings to ensure attendees go home with a clear vision of their implications for both the industry at large and their organization in particular.
TAprose and TAtech Global News Bulletin are brought to you by TAtech: The Association for Talent Acquisition Solutions.
Mark Your Calendars! TAtech’s 2018 events include:
• February 12-13, 2018 Scottsdale, Arizona USA: The TAtech Leadership Summit on AI/Machine Learning in Talent Acquisition – the only conference totally focused on the capabilities and impact of AI/ML/NLP in recruitment.
• March 13-14, 2018 Dublin, Ireland: TAtechEurope 2018 – the premier event for recruitment advertising and technology thought & business leaders in Europe, the Middle East and Africa.
• April 18-19, 2018 Las Vegas, Nevada USA: The TAtech Spring Congress & Meetup – a unique conference designed to maximize opportunities for B2B networking, trending topic discussions and the exploration of partnerships and business opportunities.
• June 5-6, 2018 Minneapolis, Minnesota USA: The TAtech Leadership Summit on Programmatic Ad Buying – the only conference totally focused on the technology and applications of programmatic ad buying by both publishers and advertisers.
• September 26-27, 2018 Bourbon Street New Orleans, Louisiana USA: The TAtech Fall Congress & World Job Board Forum – the only conference that brings together the global thought and business leaders of the TA technology industry.