Curated Intel from the Talent Tech Industry
June 20-26, 2022:
• Celebrating recruitment’s high achievers; TAtech announces the Spring Class of its Top 100;
• Onboarding becomes nonboarding: US tech companies yank job offers stiffing college grads;
• Leaping over tall buildings: Jobandtalent buys UK-based Jump for its third acquisition of 2022;
• Getting hourly workers ahead in the job market: Mobile app JobGet closes $52M Series B round;
• High fiving to successful careers: Talent Inc. makes investment in career coaching with GetFive.
• Don’t miss out on the speaking and sponsorship opportunities at TAtech’s in-person Leadership Summits coming up this fall on “Technology & the Candidate Experience,” “Applications of Recruiting AI for Enterprise Employers” and “Recruitment Marketing.” Designed for corporate and industry thought leaders, they are unique forums for senior level information exchange, learning and networking.
TAtech Announces the Spring Class of its TAtech Top 100 TA Thought Leaders
TAtech: The Association for Talent Acquisition Solutions announced the 2022 Spring Class of the Top 100 Most Influential Talent Acquisition Thought Leaders. This list of extraordinary men and women is different in two ways: First, unlike traditional HR recognition lists, it doesn’t treat Talent Acquisition as an afterthought, but instead focuses exclusively on the innovators and trend setters in recruiting. And second, it doesn’t publish a one-and-done list that’s quickly forgotten, but instead releases its list in four classes, one each season, ensuring that the recognition continues all year long. This season’s Class includes 11 men and 14 women. A dozen of the Selectees work in corporate talent acquisition, while 13 are employed in talent technology companies or as industry researchers and analysts.
U.S. tech companies yank job offers, leaving college grads scrambling
One by one, over the last week of May, Twitter Inc (TWTR.N) rang up some members of its incoming class of new hires who had recently graduated from college and revoked the job offers in 15-minute calls, according to some of the recipients. More than 21,500 tech workers in the United States have lost their jobs so far this year, according to Layoffs.fyi, a website that monitors job cuts. The number of tech layoffs in May alone skyrocketed 780% over the first four months of the year combined, according to outplacement services firm Challenger, Gray & Christmas. But recent college graduates like Iris Guo, who graduated from the University of Waterloo and studied financial management and computer science, represent a new dimension to the cutbacks as their nascent careers are eliminated even before they begin. The trend reflects a new austerity sweeping across some parts of the tech industry such as crypto and venture capital-backed companies.
Jobandtalent buys UK-based Jump for its third acquisition of 2022
On the back of changing approaches to work, Jobandtalent, a temporary work platform backed by SoftBank, has been able to acquire three companies in 2022 alone. After raising $500 million in a Series E funding round led by Kinnevik in December 2021, Jobandtalent, a Spanish startup, has been able to make a series of acquisitions. The round of funding brought the company’s valuation to $2.35 billion, and it acquired US workforce solutions provider BGSF and recruitment platform Jobzone in 2022. These acquisitions saw Jobandtalent expand geographically and add features to its offering. The unicorn has now purchased its third company, London-based job matchmaker Jump. The financial details of this deal have not been disclosed.
Hourly Worker Mobile App JobGet Closes Series B Round of $52M
JobGet, the #1 mobile app for hourly workers, announced that it has raised $52M in Series B funding including $12M in venture debt financing. JAZZ Venture Partners and Sanabil Investments co-led the round, with participation from Pillar VC and numerous other investors. The company also greatly deepened its executive bench to accelerate its mission to help the hourly workforce thrive. JobGet’s rise comes at a fortuitous time for a U.S. economy suffering from a structural disconnect between the estimated 10 million job openings and 6 million U.S. workers who are out of work. Studies have shown that hourly job seekers are proactive about applying to jobs using available solutions, yet employers are unable to find the talent they need to grow. This issue is especially acute in the hourly space that is JobGet’s focus.
Company Press Release
Talent Inc. makes majority investment in career coaching solution GetFive
Talent Inc., a leading provider of tech-enabled career services, announced a majority investment in GetFive, a provider of scalable solutions in career transition and career development. Formed in 2013 in New York City, GetFive's innovative outplacement solutions combine digital tools and high-impact coaching to ease the difficulty of career transitions for more than 300 businesses. Building on its success, the company has since expanded its coaching solutions to offer affordable, tech-assisted "career development" programs for organizations seeking to accelerate employee growth, increase engagement, and improve accountability across all levels. "With the massive, post-pandemic shift to hybrid and remote opportunities, employers require contemporary coaching solutions that are aligned with the new world of work and can deliver major gains in engagement and retention," said Darren Kimball, Principal & Chief Executive Officer of GetFive. "GetFive's recent investment from Talent enables us to gain access to additional capabilities and technology, which supports our platform, clients, and job seekers, and drives human capital ROI." In conjunction with the transaction, Kimball will continue to oversee operations as President of GetFive. Having successfully evolved his own career from Wall Street professional and investor to entrepreneur, he has helped hundreds of thousands of people change or manage their careers, start their own businesses, and be more effective executives.
3 Opportunities to Establish Yourself & Your Company as Thought Leaders
Don’t miss out on the speaking and sponsorship opportunities at TAtech’s in-person Leadership Summits coming up this fall on “Technology & the Candidate Experience,” “Applications of Recruiting AI for Enterprise Employers” and “Recruitment Marketing.” Designed for corporate and industry thought leaders, they are unique forums for senior level information exchange, learning and networking. Contact TAtech CEO Peter Weddle right away if you’re interested. Program speaking slots and sponsorships are going fast.