Curated Intel from the Talent Tech Industry
March 11-17, 2024:
• Meshing something old & something new: Jobiqo reintros TheJobNetwork™ with Veritone AI;
• Hemorrhaging talent: Survey finds one-third of companies expect higher employee turnover;
• Entering a new market: hackajob doubles down on tech hiring globally with move into India;
• Hallucinating AI hires: The war for talent is now a pitched battle for any prospect with a pulse;
• Taking the market by the horns: Bullhorn Copilot launches with AI tools for the staffing industry.
PLUS
Get worldclass content and business-building connections at TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!
Jobiqo Relaunches TheJobNetwork™ Job Board Partnership Program to Boost Media Brands' Recruitment Advertising Revenue
Jobiqo GmbH, today announced the relaunch of TheJobNetwork™ that campaigns jobs over a vast network of job sites as the largest recruitment ad network in North America. Effective April 1, 2024, TheJobNetwork job board, will be hosted by Jobiqo and supported by Veritone's AI-enabled programmatic technology, to help media brands connect their audience and tap into hidden advertising revenue potential. The strategic partnership between Jobiqo and Veritone is aimed at helping media brands, publishers and newspapers grow recruitment ad revenue, increase their competitive advantage, and better engage employers and job seekers under their local brands. Powered by Jobiqo's best-in-class job board platform and Veritone's AI-enabled programmatic ad distribution system, TheJobNetwork™ is engineered to produce superior job ad performance and deliver high quality candidates to employers and recruiters. The new service automatically campaigns job ads on TheJobNetwork™ to deliver more quality applicants in less time. TheJobNetwork™ provides proprietary job-matching technology consisting of highly accurate, artificial intelligence algorithms. For employers, job matching saves recruiters' time by automatically matching qualified applicants. For job seekers, the matching technology provides a superior user experience and increased engagement by delivering highly relevant jobs which they are both interested in and qualified for.
One-third of companies bracing for higher employee turnover
Thirty-three percent of U.S. hiring managers anticipate employee turnover at their company to increase in the next year, costing an average of $36,295 (e.g., cost to rehire, lost productivity) annually. Significantly, more than 20% of hiring managers say that number climbs to $100,000 or higher. This is according to a recent Express Employment Professionals-Harris Poll survey. For those who anticipate increased turnover in 2024, many point to better pay/benefits offered elsewhere (38%), increased workplace demands (35%), employees resigning (33%), employee feelings of being overworked (31%) and the competitive job market (26%) as the cause. Around a quarter believe it will be due in part to better perks being offered elsewhere (e.g., summer Fridays, unlimited vacation days) (23%), employees being terminated (23%), employees retiring (23%) and better company culture elsewhere (21%).
hackajob reinforces its commitment to tech hiring globally with expansion into India
Huge news… hackajob launches in India. At hackajob, our theme of 2024 is #ObssessOverCustomers. A key part of this is listening to our customers and understanding their challenges as we continue to scale globally. Through this process, India repeatedly came up as the next market for us to launch in, We're now ready to introduce over 25,000 skilled engineers from our Indian network to our customers. Our mission of connecting top tech talent with their dream jobs is now reaching new shores, and what an incredible journey it's been to get here. I'm super proud of the dedication and passion our team has shown in making this a reality. This is more than just an expansion; it's a testament to our commitment to revolutionising tech hiring globally. Onwards!
Company Announcement on Social Media
The war for talent has become a pitched battle for any AI prospect with a pulse
Recruiting AI talent can be a tough feat for some companies. Aravind Srinivas, the founder and CEO of Perplexity, an AI-powered question-and-answer engine, described his interaction with a job candidate that shows how hard it can be to hire people with generative-AI skills. "I tried to hire a very senior researcher from Meta, and you know what they said? 'Come back to me when you have 10,000 H100 GPUs,'" Srinivas said on a recent episode of the business-advice podcast "Invest Like the Best." There's been a rapid uptick in interest in AI skills like machine learning and data engineering since OpenAI launched ChatGPT in November 2022. Companies like Amazon, Netflix, and Meta have offered salaries as high as $900,000 a year to attract generative-AI talent, and non-tech companies across the education, healthcare, and legal sectors have been looking to fill roles with workers who know how to use AI. Srinivas believes that workers need skills beyond the ability to create AI models that generate desirable outputs. "You have to post-train them and address the long tail of issues you get on serving a product," the CEO said. Post-training expertise, like knowing how to reduce a chatbot's factual inaccuracies, is an important skill that employees from a wide range of digital industries can learn quickly, Srinivas said.
Bullhorn Copilot launches with AI tools tailored to the staffing industry
Bullhorn, the global leader in software for the staffing and recruitment industry, today announced the launch of its new AI solution, Bullhorn Copilot. Bullhorn Copilot will span the entire Bullhorn platform, beginning with Copilot Starter, a set of generative AI capabilities embedded directly in recruiters’ ATS/CRM. [The Copilot Starter product will be released in April.] Like many others, the staffing industry quickly adopted generative AI in 2023, with 55% of staffing firms reporting that they have experimented with AI, according to a recent Bullhorn survey of staffing professionals worldwide. While the adoption of AI is still in its earliest stages, firms that experimented with AI in 2023 were already 31% more likely to see revenue gains than firms that have not begun experimenting with AI.
TAtech North America: Content & Connections You Can Use for Business Success
Get worldclass content and business-building connections at TAtech North America & The World Job Board Forum. Avoid FOMO, register right now for the only conference in the North American market that is specifically designed both for job board and talent technology company CEOs, their direct reports and rising stars and to accelerate the bottom-line growth of their enterprises. Why the rush? Because the conference will be held June 4-6, 2024 at The International Spy Museum which has a limited seating capacity. Whether your company is a niche or general job board, aggregator, talent marketplace, online classifieds business, programmatic platform, chatbot, conversational AI solution, ATS, recruitment marketing solution, CRM platform, interviewing or assessment system or talent technology consultancy, this event will supercharge your sales and your profits. So, register today and accelerate the success your company achieves, today, tomorrow and into the future!