Curated Intel from the Talent Tech Industry
August 30-September 5, 2021:
• QJumpers launches new AI candidate search software to solve highly competitive job market challenges;
• Workstream raises $48M Series B to empower local businesses to hire hourly workers faster;
• Paradox acquires Traitify to further streamline hourly hiring with fast, simple, next-generation assessments;
• Crypto and blockchain jobs' share grew 118% in 10 months, new data shows;
• As companies acquire our data, we are NOT the product; we are underpaid workers.
PLUS
• An educated consumer is your best customer. Urge your customers to take the TAtech Learning & Certification Program in Talent Technology Implementation Management so they can successfully adopt and use (and then recommend) your products.
QJumpers Launches New AI Candidate Search Software to Solve Highly Competitive Job Market Challenges
QJumpers, an innovative sourcing and recruitment software provider, announced its newest product, AI Talent Sourcing. The tool scours publicly available information and uses artificial intelligence to find, rank and engage highly qualified, passive job candidates that previously could not be found through traditional sourcing and advertising methods. AI Talent Sourcing is an offshoot of another product launched two years ago which was embedded into the QJumpers Applicant Tracking System (ATS). Due to client demand, QJumpers has released a new and improved version that can be used independently of the ATS. Recruiters can either paste a job description into the tool and let the AI generate its own candidate search specification, or they can create their own. AI Talent Sourcing then presents a list of candidates ranked by how well they match this search criteria. Candidate profiles are created by combining pieces of information from publicly available data, such as networking sites, social media, company websites and blogs. The results can be refined further by specifying preferences such as location, skills, education, and years’ experience. It can also be used for diversity hiring.
Original Source: Company Press Release
Workstream Raises $48M Series B to Empower Local Businesses to Hire Hourly Workers Faster
We are thrilled to announce that Workstream has raised $48 million in Series B funding. This is a major milestone for the company—and the deskless workforce. In July 2021, we helped local businesses fill more than 18,700 jobs, which represents more than 2.5% of all private jobs added in America. Over the past year, we grew 10x and now serve more than 1,500 customers across 10,000 locations, including Jimmy John’s, Jamba, Wingstop, IHOP, Chick-fil-A franchisees and more. We are humbled by our customers’ results and are committed to their success. The round, which now brings the total investment in Workstream to $60.5 million, was co-led by BOND and Coatue, with significant reinvestment from Founders Fund
Paradox Acquires Traitify to Further Streamline Hourly Hiring with Fast, Simple, Next-Generation Assessments
Paradox, the conversational recruiting software helping global brands like Unilever and McDonald's simplify hiring through automation with a human touch, announced the acquisition of Traitify — the world's fastest, mobile-first assessment platform. Terms of the deal were not disclosed. Unlike traditional assessment technology, Traitify was built to be fast, visual, and mobile-first — increasing assessment completion rates to more than 96%. On average, candidates can finish Traitify's visual-based assessment in less than two minutes, generating insight on their own personality and helping employers better predict the candidate's suitability for the role. Traitify is already integrated with Paradox, serving joint clients like ResultsCX and McDonald's to work alongside core HCM platforms like Workday, iCims, and more.
Crypto and blockchain jobs' share grew 118% in 10 months, new data shows
Not only has demand for cryptocurrency- and blockchain-related expertise increased, but new data suggests that the kinds of roles being posted have shifted over time. Gathering together the most recent data on the cryptocurrency and blockchain job market, a new report suggests that higher levels of institutional adoption have spurred greater demand for expertise in the sector. According to the employment website Indeed — cited Thursday in Korea IT Times — as of mid-July 2021, the overall share of crypto and blockchain job postings on the platform has grown 118% compared with early September 2020. This solid growth has also come with a shift in the roles being sought after, with the share of management posts in crypto and blockchain increasing 29.87% year-on-year as of July 16. Human resource accounts have risen 200% over the same time frame, whereas software development jobs have dropped down to 29.7% of all crypto and blockchain posts compared with 34.8% the previous year. All data on the allocation of roles has reportedly been drawn from the crypto trading simulator Crypto Parrot.
We Are NOT the Product; We Are Underpaid Workers
On a Labor Day weekend a few years ago, I had a crazy idea that labor law might be an alternative path to meaningful data privacy regulation. Now, with several organizations working on blockchain-based, SSI (Self-sovereign identity), what was a real stretch of the imagination is inching closer to practical application. Think about this… There is a popular meme used to explain the exchange of our data for free online services: “When something online is free, you are not the customer; you are the product.” This idea is generally adapted to fit the regulatory argument du jour. Another popular way to explain the exchange of our data for free services is to say, “The services we enjoy are not free; we are paying for them with a new form of currency, our data.” There is some validity to each of these ideas, but both assume that users inevitably exist to serve the commercial interests of the data elite. I reject this notion. At the moment, most users are humans, and in America, being human comes with some “unalienable” rights.
An Educated Consumer Is Your Best Customer
The TAtech Learning & Certification Program in Talent Technology Implementation Management is the only self-paced educational curriculum in the world designed to promote effective talent technology transfer from developers to users. It provides HR and TA leaders and professionals with the skills and knowledge necessary to successfully onboard technology-based talent acquisition products. They will learn the support requirements, practices, communications and interactions that will enable them to achieve their organization’s desired improvements in recruiting operations (as measured by KPIs) and expected return on investment (ROI). And, they will be able to earn a new and valuable credential that will set them apart from others in their field and advance their career.