Curated Intel from the Talent Tech Industry
August 21-27, 2023:
• Scaling video in job postings: SparcStart intros product to automate hiring manager videos;
• Expanding market presence: RPO Job Mobz acquires brand and other assets of Recruiter.com;
• Augmenting access to LATAM tech talent: Howdy.com acquires Brazil-based GeekHunter;
• Finding new sources of diversity talent: Gay dating app Grindr sees itself as a new LinkedIn;
• Clashing views of value : Companies cut new hire salaries despite their higher pay expectations.
PLUS
Early Bird Discounts for TAtech Europe & The World Job Board Forum end this week. Don’t miss this opportunity to attend the premier B2B conference for job boards and talent technology companies in the EMEA region AND save big! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. So, don’t delay; register today to take advantage of Early Bird Discounts.
SparcStart Launches New Product to Automate Hiring Manager Videos
SparcStart, a leading recruitment video platform, is launching a new product to revolutionize candidate attraction. Ignite, the new hiring manager video integration simplifies the way hiring managers connect with candidates, humanizing the job and helping candidates envision themselves in the role. SparcStart has developed the technology to automate the creation of the videos and their placement in the career sites' job descriptions regardless of the ATS or career site used. This fully automated system allows employers to update their text-only job descriptions at scale and showcase their greatest assets. Research indicates that when candidates have a chance to “meet their boss”, they are more likely to submit their applications. The inclusion of hiring manager videos on career sites has demonstrated a significant increase in the conversion rate of site visitors to actual applicants, with up to a 60% improvement. Moreover, these videos increase applications from diverse candidates by 41% as they humanize the hiring manager and address the fear that the hiring manager may be “a monster.”
Job Mobz to Acquire Iconic Recruiter.com Brand in Cash and Stock Deal
Job Mobz, recognized as a global leader in recruitment process outsourcing ("RPO") and an acclaimed RPO firm for 2022 by HRO Today, has announced a definitive agreement to acquire key intellectual property from the Company. This includes the prestigious domain name Recruiter.com, symbolizing a revolutionary turn in the recruitment sector. This landmark acquisition amplifies Job Mobz's existing relationship with the Company, transcending their former strategic partnership that sought to drive revenue growth and streamline operations. The parties believe the acquisition will propel Job Mobz's calculated plans to expand its market presence and its service portfolio through the integration of the Company's brand assets.
Howdy.com Acquires Brazilian Talent Marketplace, GeekHunter, As Demand for AI Engineers Increases
Howdy.com, a talent sourcing and management provider that connects U.S. companies with Latin American (LATAM) tech workers, today announced the acquisition of GeekHunter, one of the largest and most reputable talent marketplaces for companies to hire developers from Brazil. As a result of the acquisition, GeekHunter will operate as a subsidiary of Howdy.com, increasing the number and quality of talented software developers U.S. companies can remotely hire from LATAM to build scalable engineering teams. The acquisition comes at a time when both companies have experienced an increased demand for AI and machine learning skills and it marks Howdy.com as one of the largest tech-hiring service providers for companies in North and South America. GeekHunter, which finds, hires, and pays Brazilian tech talent, adds nearly 400,000 registered candidates to Howdy.com'svices. Team members from both companies cover more than 100 engineering skills, including AI development, Android, Angular, Data Engineering, DevOps, GoLang, Java, Kotlin, Node.js, Python, Ruby on Rails, and much more. The influx of talent allows both companies to provide customers with more hiring choices in regards to skills, costs, location, and culture-fit.
Is Grindr the Sexy New Linkedin?
A surprising number of men are using the gay dating and hookup app Grindr to find something other than sex. While the app remains primarily used for locating a suitable partner for a hook-up, Grindr revealed approximately a quarter of users are online to network. A spokesperson for Grindr told Business Insider the app is an effective tool for folks looking to connect with other gay men for personal and professional relationships. “According to data from a survey of Grindr users, approximately 25 percent of our users say that one of their key activities on Grindr is to network,” a Grindr spokesperson told Insider in an email. “We know people use our app to meet new people in their area and in new towns, and we also have plenty of anecdotal evidence of people making connections that lead to professional opportunities like jobs.” Grindr CEO George Arison revealed to The Wall Street Journal he had “hired or had a professional relationship with several people” he met on the app adding, “We encourage people to network on Grindr.”
Companies are cutting salaries for new hires as workers' pay expectations hit record highs
Job-hopping isn't paying what it used to. During the heyday of the "great resignation," workers could expect to see a 20% pay bump from changing jobs. Now, as the job market cools and companies become more cautious with hiring, the big signing bonuses and high salaries new hires once enjoyed are dwindling. Data from payroll provider Gusto shows that wages for new hires are 5% lower than they were for new recruits in the same roles in July 2022, with tech and administrative roles seeing some of the sharpest declines. Nearly half of the 2,000 employers surveyed by ZipRecruiter in July said they had reduced pay for recent job openings. As businesses cut new hires' salaries, however, jobseekers' wage expectations have hit record highs, according to a Federal Reserve Bank of New York survey released Monday. Job seekers' average "reservation wage," or the lowest pay they'd be willing to take to switch jobs, climbed to $78,645 in July 2023, an 8% increase from just a year ago and the highest number in a data series that began in 2014, CNBC reports.
Early Bird Discounts for TAtech Europe End This Week
Early Bird Discounts for TAtech Europe & The World Job Board Forum end this week. Don’t miss this opportunity to attend the premier B2B conference for job boards and talent technology companies in the EMEA region AND save big! Coming up in London on December 4-6, it is the only event that’s specifically designed for company CEOs, their direct reports and rising stars and totally focused on advancing the bottom-line growth of their enterprises. 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, don’t delay; register today to take advantage of Early Bird Discounts.