Curated Intel from the Talent Tech Industry
June 27-July 3, 2022:
• Dealing with online reviews effectively: Podcast – is your employer’s reputation killing its brand;
• Revaluing a bird in the hand: Gloat raises $90M to build out its internal talent marketplace;
• Acknowledging a new workplace: Businesses to face a talent crisis without remote work option;
• Getting up close and personal with Arnold: How a belief in AI sentience is becoming a problem;
• Preparing for stagflation: What startup founders should do in the face of economic turbulence.
• 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.
Start Smart Podcast Episode 6: Is your employer’s reputation killing its brand?
According to Glassdoor, 86% of job seekers research company reviews and ratings to decide on where to apply for a job. Given the prevalence of that behavior, we decided to examine a whitepaper by Public Insight Data Corporation on the importance of employer branding and its relationship to a company’s review-based reputation. Entitled ‘Winning the War for Talent with Employer Branding’, it explores how to establish a credible and compelling brand in an age of hyper online commentary. Tune in to this episode as we unpack some of the key insights from this whitepaper, including the increased importance of a company’s reputation in today’s tight talent market, the vital role of reputation management as an adjunct to employer branding, and the analyses and metrics an employer can use to ensure its reputation and its brand are aligned in a way that promotes its value proposition as an employer and a place to work.
Gloat raises $90M Series D to build its internal talent marketplace
Gloat Inc., developer of an internal talent marketplace platform, said it has raised $90 million in a late-stage Series D round that brings the company’s total funding to more than $192 million. Gloat’s “workforce agility” platform combines a talent marketplace with artificial intelligence-powered technology that analyzes employees’ skills at large scale and helps managers make more informed decisions about where to apply talent and plan for future skills needs. The company said that over the past 12 months its customer base has grown 250%, annual recurring revenue tripled and its employee count grew by half, though it didn’t disclose more specifics. Among the customers in more than 120 countries that use its platform are MasterCard Inc., Unilever PLC, Schneider Electric SE, Seagate Technology plc, Nestlé S.A., Novartis AG and HSBC Bank plc. The platform is both a skills development destination and a place for managers to identify talent gaps and nurture skills development. Its marketplace uncovers the skills, experiences and career goals of employees and connects them to opportunities inside the organization. The workforce intelligence platform helps managers develop talent strategies that anticipate market changes and allocate skills-development resources accordingly.
Businesses Could Face a Tech Talent Crisis If They Don’t Embrace Remote Working
UK businesses could face a tech talent crisis if they don’t embrace working from home, as new research reveals less than 1 in 5 developer jobs offer remote working. According to research by developer recruitment platforms CoderPad and CodinGame, only 19% of the 82,222 developer jobs currently being advertised in the UK give the option of working remotely. Similar research carried out by CodinGame 12 months ago, found that 23% of tech job posts were remote. This drop in the proportion of developer roles that offer remote working is surprising, particularly in light of businesses struggling to hire skilled developers. Embracing remote working means that businesses are able to tap into a wider pool of talent rather than being dependent on hiring locally. Also, with a recent tech survey by CodinGame and Coderpad, revealing that 70% of developers would like to work remotely if given the opportunity, businesses are more appealing to candidates. And in a candidate driven market, that can give companies the edge over the competition.
It's alive! How belief in AI sentience is becoming a problem
AI chatbot company Replika, which offers customers bespoke avatars that talk and listen to them, says it receives a handful of messages almost every day from users who believe their online friend is sentient. "We're not talking about crazy people or people who are hallucinating or having delusions," said Chief Executive Eugenia Kuyda. "They talk to AI and that's the experience they have." The issue of machine sentience - and what it means - hit the headlines this month when Google (GOOGL.O) placed senior software engineer Blake Lemoine on leave after he went public with his belief that the company's artificial intelligence (AI) chatbot LaMDA was a self-aware person.
4 Actions Startup Founders Should Take Now To Counter Impending Stagflation
Proactive founders can get in front of the pending turbulent economic environment. They must navigate a fiscal minefield full of paradoxes, such as dwindling runway versus mounting sales pressure, or suppliers forcing price hikes while investors push for profitability. Stagflation looms on the horizon, a menacing mix of slowing growth, rising unemployment and persistently higher input prices (inflation). Altogether, stagflation is a toxic recipe for company financials, especially for early-stage companies not yet fully scaled and profitable. What’s different about today’s version of stagflation versus that of the 1970s is increased complexity. The Federal Reserve can try to cool the economy by raising interest rates to make business and consumer spending less attractive. However, the U.S. government is powerless to deal with inflationary global supply chain issues, such as product shortages. What can founders do? Here are four actions to take immediately.
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.