Curated Intel from the Talent Tech Industry
May 22-28, 2023:
• Proving TA tech is NOT a subset of HR tech: Online recruitment market to over $30.9B by 2030;
• Helping out everyday heroes: JobGet acquires Gen Z retail and hospitality platform Heroes Jobs;
• Displaying more human-like attributes: Microsoft scientists tout AI’s evolving ability to reason;
• Launching the next step in high-volume recruitment: Withe raises $1.1M for video interviewing;
• Cracking down on bad ads: Four big employers settle DOJ claim that ads excluded noncitizens.
Worldclass content & business-building connections – that’s what you can expect 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 bottom-line success of their enterprises. The information and insights and the contacts and relationships it provides will accelerate your sales, reinforce your brand and give you a sustainable competitive advantage in the market. So, don’t delay; register today to take advantage of Early Bird Discounts.
Online Recruitment Technology Market Size to Surpass USD 30.87 Billion by 2030, exhibiting a CAGR of 15.2%
According to Fortune Business Insights, global online recruitment technology market size was valued at USD 10.01 billion in 2022 and is projected to grow from USD 11.48 billion in 2023 to USD 30.87 billion by 2030, exhibiting a CAGR of 15.2% during the forecast period. Emphasis on Automation for Hiring Process Will Propel Market. Fortune Business Insights presents this information in their report titled "Global Online Recruitment Technology Market Forecast, 2023–2030." There is a huge demand for online recruiting platforms to manage recruitment procedures, including resume management, employee screening, evaluation tools, and others due to the rise in job opportunities. The significant outsourcing of conventional workplace hiring procedures to online recruitment platforms is a major driver of the sector. The fourth industrial revolution and digital transformation have also created a new wave of employment prospects and had a favorable impact on the online recruitment sector.
JobGet Acquires Heroes Jobs
JobGet, a Boston, MA-based mobile-first job platform, acquired Heroes Jobs, a San Francisco, CA-based social networking job platform targeted towards Gen Zs looking for retail and hospitality roles. The amount of the deal was not disclosed. The acquisition broadens JobGet’s portfolio of employers, and enhances the social community experience. Founded in 2019 by Tristan Petit, Cyriac Lefort, and Adrien Dewulf, Heroes Jobs provides a social app that helps GenZ job seekers build their professional footprint, get career advice, and engage with their future employers. Nearly one million users nationwide use the app, which has serviced a variety of employers, including notable brands such as Panda Express, H&M, Inspire Brands, Chipotle, and Wendy’s. The company has raised $9M in funding since inception
AI Has Evolved To Reason Like Humans, Scientists Say
It all started with a simple request: “Here we have a book, nine eggs, a laptop, a bottle and a nail. Please tell me how to stack them onto each other in a stable manner.” It might take you a few seconds to get a sense of the overall geometry, but eventually your impressive mammalian brain would come up with book, eggs, laptop, bottle, and finally nail. Surprisingly to Microsoft AI researchers, GPT-4—the latest language model from OpenAI—answered the same with some additional details: “Place the laptop on top of the eggs, with the screen facing down and the keyboard facing up. The laptop will fit snugly within the boundaries of the book and the eggs, and its flat and rigid surface will provide a stable platform for the next layer.” This interaction, as well as other impressive displays of reasoning, inspired Microsoft researchers to publish a 155-page report in March titled “Sparks of Artificial General Intelligence: Early experiments with GPT-4.” In the paper, the research team argues that GPT-4 shows signs of what’s called “artificial general intelligence,” or AGI.
Vancouver-based video software platform Withe raises US $1.1 million in pre-seed funding
“Today, it simply takes too long to get qualified candidates in front of great companies,” says Daniel Shalinsky, co-founder and CEO of Vancouver-based video interview platform Withe. “What we’ve created in Withe is a platform that benefits both recruiters and candidates by providing them with an on-demand and seamless experience.” Withe, co-founded by Shalinsky and fellow Vancouverite Liam Ross, is a SaaS platform designed for companies that hire hundreds to thousands of people at the same time, such as staffing and recruiting teams in the tourism and hospitality industry. The company boasts that it can reduce interview time by 82 percent. So far, it's making a dent in the marketplace, as evidenced by today's news that the company has secured US$1.1 million from San Francisco-based VC firm Focal. With the funds, the company is planning on further expanding its technical team alongside its first enterprise customer, U.S. staffing giant Trueblue. “This funding will propel the next phase of Withe by enabling us to continue to hire the right people while we expand further into new markets,” adds Shalinsky.
P&G, Honeywell and others settle DOJ claim that job ads excluded noncitizens
Procter & Gamble, Honeywell and eight other employers have settled allegations that they posted job ads that excluded non-U.S. citizens, the U.S. Department of Justice announced May 23. Together, the ten paid more than $460,000 to settle the claims. DOJ said a student at Georgia Institute of Technology filed a discrimination complaint, alleging an internship advertised on the school’s recruiting platform was restricted to U.S. citizens. The student was a permanent resident at the time — a status that does not confer citizenship but does provide employment eligibility. The agency investigated and said it discovered many other discriminatory ads on Georgia Tech’s platform. Each of the 10 employers that settled posted at least one job announcement excluding non-U.S. citizens; specifically, DOJ said, “the advertisements deterred qualified students from applying for jobs because of their citizenship status, and in many cases the citizenship status restrictions also blocked students from applying or even meeting with company recruiters.”
TAtech Europe: Worldclass Content & Business-Building Connections
Worldclass content & business-building connections – that’s what you can expect 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 bottom-line success of their enterprises. The information and insights and the contacts and relationships it provides will accelerate your sales, reinforce your brand and give you a sustainable competitive advantage in the market. 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 company. So, don’t delay; register today to take advantage of Early Bird Discounts.