Curated Intel from the Talent Tech Industry
July 31-August 6, 2023:
• Hearing the same old refrains: iHire survey finds few changes among employers and job seekers;
• Starting fast: PeopleScout intros RPO solution Accelerate that can be implemented in 2 weeks;
• Cutting out time sinks: Karat launches top of funnel candidate screening solution Karat Qualify
• Advancing people analytics: One Model lands $41M to bring data science insights to HR & TA;
• Opening eyes in the c-suite: McKinsey reports that AI applications are now a CEO & Board topic.
PLUS
Stepping outside your industry niche and connecting with other technology companies in the recruitment space is now essential to bottom-line success. And, there’s no better place to forge those inclusive connections than at TAtech Europe & The EMEA Job Board Forum, coming up in London on December 4-6. It is the only conference in Europe and the rest of the EMEA region that is designed for job board and talent technology company CEOs, their direct reports and rising stars and totally focused on advancing the growth of their enterprises. So, don’t delay; register today to take advantage of Early Bird Discounts.
iHire Announces 2023 State of Online Recruiting Report & Survey Findings
iHire announces the publication of its 2023 State of Online Recruiting Report, featuring the results of a survey of more than 2,600 U.S. employers and job seekers from 57 industries. The fifth annual edition highlights trends and technologies impacting talent acquisition, including an ongoing shortage of qualified candidates, economic uncertainty, and the proliferation of artificial intelligence (AI). Among the key findings: 62.6% of employers struggle with receiving unqualified applicants – their top recruiting challenge – and 43.1% attract too few applicants; 46.6% of job seekers were employed and searching for work actively or passively (an 18.7% year-over-year decrease), suggesting more workers are staying put; 54.0% of employers were frustrated by candidates ghosting them or not responding to their outreach while 53.1% of job seekers said the same about employers, selecting “applying and not hearing back” as their top job search challenge; and 52.3% of job seekers said they’d be more likely to apply for a job if the posting specified the position’s salary range.
PeopleScout Expedites Access to Talent with Launch of Accelerate - A Tech-Powered RPO Solution with Two-Week Implementation
Recruitment process outsourcing (RPO) leader PeopleScout is proud to introduce Accelerate, the latest addition to their tech-enabled solutions, designed to meet the unique talent needs of their clients. This turnkey RPO solution promotes agility, streamlines recruitment processes, and delivers an exceptional candidate experience. Powered by PeopleScout’s award-winning Affinix™ talent acquisition technology, Accelerate features pre-configured modules and can be implemented in just two weeks—allowing organizations and talent acquisition leaders to move at lightning speed. Accelerate features everything employers need to attract, engage and hire talent, including career site hosting, CRM, passive candidate sourcing, mobile-first quick apply, screening, interview self-scheduling, analytics, and of course, PeopleScout’s team of recruiting professionals. “Today’s market demands a more agile approach to recruitment, and speed of implementation is critical in connecting our clients with the talent they need,” said Rick Betori, President of PeopleScout. “Accelerate pairs that speed with PeopleScout’s 30 years of expertise to deliver a recruitment experience that is unparalleled in the industry.”
Karat Launches Qualify Adaptive Technical Assessments to Replace Resume Screens and Code Tests
Karat, the world’s largest interviewing company, today announced the launch of Karat Qualify, a top-of-funnel skills-assessment for organizations hiring software engineers. Qualify reimagines the concept of candidate screening using a short multiple-choice assessment to replace outdated resume screens and code tests. The highly approachable format creates a fair, candidate-friendly experience that produces faster assessment results, higher completion rates, leveling recommendations, and more qualified candidates moving through the hiring funnel. Qualify is a 15-question exercise built on Karat’s adaptive assessment technology. For recruiters and hiring managers, deploying Qualify at scale is exceedingly simple. First, hiring teams select an assessment topic from Karat’s library of 20+ pre-built topic areas. Next, candidates receive an invitation to take the on-demand, self-administered assessment. The content is dynamically selected based on previous answers, providing candidates with more opportunities to demonstrate their skills and expertise, and producing a nuanced hiring signal based on the results. Finally, as candidates complete the exercise, recruiters review the actionable recommendations and move forward with the top talent.
One Model lands $41M to bring data science-powered insights to HR
One Model, a platform that uses AI to help employers make decisions about recruiting, hiring, promotions, layoffs and general workplace planning, today announced that it’s raised $41 million in a funding round led by Riverwood Capital. Christopher Butler, CEO of One Model, said that the capital will be used to “boost several of the company’s growth initiatives,” particularly in the areas of technology, product development, customer success and go-to-market. “One Model’s people analytics product roadmap will be expanded to solve problems for a diverse array of data science, analyst, people manager and C-level audiences, delivering tailored content proactively through alerts, notifications and individualized reporting,” Butler told TechCrunch via email. “Further investment in One AI will provide more analysts and decision-makers with actionable forecasts, all from a powerful ethical and data governance posture.” One Model is what’s known as a “people analytics” platform — a platform designed to collect and apply organizational and talent data to improve business outcomes, at least in theory. There’s long been high interest in people analytics; according to a 2018 Deloitte survey, 84% of large organizations rated people analytics as “important” or “very important” and 69% had already formed a people analytics team.
The state of AI in 2023: Generative AI’s breakout year
The latest annual McKinsey Global Survey on the current state of AI confirms the explosive growth of generative AI (gen AI) tools. Less than a year after many of these tools debuted, one-third of our survey respondents say their organizations are using gen AI regularly in at least one business function. Amid recent advances, AI has risen from a topic relegated to tech employees to a focus of company leaders: nearly one-quarter of surveyed C-suite executives say they are personally using gen AI tools for work, and more than one-quarter of respondents from companies using AI say gen AI is already on their boards’ agendas. What’s more, 40 percent of respondents say their organizations will increase their investment in AI overall because of advances in gen AI. The findings show that these are still early days for managing gen AI–related risks, with less than half of respondents saying their organizations are mitigating even the risk they consider most relevant: inaccuracy.
TAtech Europe: Forge Inclusive Connections for Bottom-Line Success
Stepping outside your industry niche and connecting with other technology companies in the recruitment space is now essential to bottom-line success. And, there’s no better place to forge those inclusive connections than at TAtech Europe & The EMEA Job Board Forum, coming up in London on December 4-6. It is the only conference in Europe and the rest of the EMEA region that is designed for job board and talent technology company CEOs, their direct reports and rising stars and totally focused on advancing the growth of their enterprises. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, conversational AI solution, chatbot, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, don’t delay; register today to take advantage of Early Bird Discounts.