Curated Intel from the Talent Tech Industry
January 9-15, 2023:
• Matching talent with startups: HROS launches recruiting platform with focus on personality;
• Going all in on the gig economy: Gigged.ai lands ₤1.6M seed round to serve UK’s gig workers;
• Creating a new way to serve: US lawmakers propose Federal Reserve Corps for Digital Talent;
• Placing a big bet on the future: Microsoft buys huge stake in OpenAI and its product ChatGBT;
• Doing better than last year: 2023 staffing plans among SMB CEOs are up but still below 2021.
• TAtech announces the launch of RecAd Savvy, a webcast about all things recruitment advertising & marketing, hosted by TAtech CEO Peter Weddle. Think of it as talk radio with pictures and without the snark. Each episode will offer an unscripted conversation with some of talent acquisition’s smartest people and explore best practices and new ideas for effectively reaching and sourcing top talent. Along the way, there will be news announcements
HROS: HR tech startup launches recruiting platform with focus on personality
A nurse who became a tech founder: What happens when hidden potential is used, Maria Baumgartner, CEO of the HR tech startup HROS, told in the press conference today, Tuesday. "My environment helped me to realize my potential in the startup and founding scene," says the former nurse and founder of the startup Speedinvest Heroes, which transformed into the HR company HROS.io at the turn of the year. Together with CEO Lukas Rippitsch and her team of data and AI experts, she wants to pass on the same environment that led Baumgartner to discover new career opportunities to job-seeking talents. "Many do not know what potential they have. Potential means not only training and work experience, but above all emotional intelligence, i.e. the combination of passion and empathy," explains Baumgartner, announcing the launch of her latest product, the online talent marketplace HROS.io. The newly launched online marketplace HROS.io combines insights from psychology with years of know-how from AI-based data analyses: HROS.io is a recruiting platform designed to match talents with startups efficiently and accurately. The AI-based platform creates individual skill and personality profiles for both applicants and talent-seeking companies, allowing companies and applicants to find each other.
Glasgow HR tech outfit taps into gig economy explosion with fresh £1.6m investment
Gigged.AI has secured a £1.6m seed round led by Edinburgh-based Par Equity alongside existing investor Techstart Ventures, Edinburgh-based strategic design firm Nile HQ and a number of “leading entrepreneurs”. The tech outfit deploys advanced algorithms to help businesses source new talent, while enabling small and medium-sized enterprises (SMEs) and larger corporates to retain existing staff. Clients signed up to the platform include the BBC, the University of Edinburgh and Scottish-founded tech unicorns Skyscanner and FanDuel. In the UK, gig economy workers have tripled over the last five years, while working patterns have been heavily impacted by the pandemic and the trend for remote and hybrid working. Gigged.AI plans to grow its team over the next 12 months, remotely in addition to its Glasgow and London hubs, and also has a number of partnerships and contract wins in the pipeline this year.
Lawmakers Propose a Federal Reserve Corps for Digital Talent
A bipartisan pair of House lawmakers active in cyber policy introduced legislation on Wednesday to create a “National Digital Reserve Corps” of civilian personnel who have the skills and experience needed to address a host of digital challenges across the federal government. The bill—introduced by Reps. Tony Gonzales, R-Texas, and Robin Kelly, D-Ill.—would allow civilian “reservists” to enlist for a three-year period with the federal government and work on a variety of “digital and cybersecurity projects, digital education and training, data triage, acquisition assistance and development of technical solutions.” Those selected for inclusion in the National Digital Reserve Corps would be assigned to federal agencies by the General Services Administration, and a provision in the legislation would also require that the Labor Department “issue regulations that ensure reservists jobs are waiting for them once they finish their annual service.” The reservists would work in this governmental role for 30 days per calendar year, while also having the opportunity to “obtain and maintain security clearances, complete certifications, and receive training and education to better equip them to meet the federal government’s cybersecurity and digital needs.”
Microsoft buys into the future with huge investment in ChatGPT
Microsoft has taken an unprecedented step in the world of artificial intelligence: they are set to purchase a 49% stake worth $10 billion in OpenAI, the parent company behind AI services provider ChatGPT. This could prove revolutionary for Microsoft as it will give them access to cutting-edge technology and provide strategic income when their initial investment is recovered - clearly demonstrating that this is no small deal! With their investment, Microsoft would become part-owners of OpenAI with a 49% stake and the other 49% split between other investors. The OpenAI parent nonprofit graciously took 2%. With Microsoft's billion-dollar investment in 2019, OpenAI is now raising funds at a whopping $29B valuation and allowing early investors to cash out. It doesn't stop there… OpenAI is predicting hefty revenue of 1 Billion by 2024! This will allow them to put their Chatbot & AI tech into major software products like Word, Excel, Outlook, and more through Bing… this could be huge for both companies!!
LinkedIn post by ChatGPT
Small and midsize business CEOs find it easier to hire but struggle to operate at full capacity
The confidence of small and midsize business (SMB) CEOs is trending up, boosted by business leaders’ expectations for hiring and profits, according to the latest CEO Confidence Index from CEO coaching and peer advisory firm Vistage. In Q4, confidence levels reached 75.3, a slight bump from 73.4 in Q3 and 69 in Q2, but is still below the level of Q4 2021, the index found, due to recession concerns. Nearly two-thirds (60%) of SMB CEOs plan to increase hiring in the next year, up from 52% in Q3 and Q2, according to the index. 5. Also, for the first time since the start of 2022, the proportion (28%) of SMB CEOs who say it’s easier to hire is greater than those who say it’s not (20%). But there are concerns: The percentage of SMB CEOs who plan to increase hiring is still lower than last year, a Vistage press release noted. And 61% of CEOs say hiring challenges are affecting their ability to operate at full capacity. Of the CEOs who have trouble hiring, 84% are increasing wages and compensation; 72% are developing the existing workforce; 68% offer flexible hours and schedules; and 61% are providing leadership development programs, according to the index.
Get Early Bird Discounts for TAtech North America
Register now, before early Bird Discounts end for TAtech North America & The World Job Board Forum, which will be held in Austin, Texas USA on May 22-24, 2023. This is the only conference totally focused on the providers of talent technology and their bottom-line success. Unlike the conferences that treat talent technology companies as a subset of HR tech, this event is specifically designed to advance the success of job boards, aggregators, talent marketplaces and the enterprises that offer programmatic solutions, conversational AI products, recruitment marketing solutions, recruitment advertising services, candidate management platforms, and interviewing and assessment systems. If that’s you, don’t miss this opportunity to meet and interact with your industry peers. Its core theme is as simple as it is powerful: A Rising Tide Lifts All Boats!