Hosted by Chris Russell, online recruiting's mad scientist, the RecTech podcast covers all aspects of recruiting technology and recruitment marketing including interesting new tools & vendors. You'll also hear how recruiters leverage technology to find talent. A great listen for HR tech vendors, HR professionals and recruiters everywhere. CONTACT: [email protected]
Layoffs Hit Job Site Indeed
5:55Citing a 33% decline in sponsored jobs Indeed.com is laying off 15% of its workforce across the globe. Company president Chris Hyams said in a company wide email this week. https://hrtechfeed.com/indeed-lays-off-2200-workers-globally/ Paradox, the conversational hiring software announced the launch of its Conversational ATS. Designed from the ground-up to completely reimagine the high-volume hiring process, the product obsessively focuses on delivering the best frontline candidate and hiring manager experience in the world. https://hrtechfeed.com/paradox-launches-industry-first-conversational-ats-for-high-volume-hiring/ PALO ALTO, Calif. — Workera, an industry-leading skills intelligence platform, announced today that it has closed a $23.5m Series B financing led by Jump Capital https://hrtechfeed.com/skills-platform-workera-closes-23-5m-series-b/ NEW YORK—-Wingspan, a payroll platform purpose-built for flexible workforces, today announced it has raised a $14 million Series A led by Andreessen Horowitz, bringing its total capital raised to $23.5 million. https://hrtechfeed.com/payroll-platform-wingspan-lands-14m-series-a/ HRtech startup ZingHR has made a strategic investment in Silicon Valley-based SaaS startup LokiBots. https://hrtechfeed.com/zinghr-invests-in-saas-startup-lokibots/
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Fountain AI and Risekit DEI Funding
5:19SEATTLE—-Karat, the interviewing company, announced the acquisition of Triplebyte’s technical assessment product and team. The acquisition adds a unique top-of-funnel, skills-based assessment to Karat’s suite of Interviewing Cloud offerings, helping organizations identify and hire the best tech talent faster, more accurately, and fairly. https://hrtechfeed.com/karat-acquires-leading-adaptive-assessment-technology-from-triplebyte/ RiseKit, a US-based startup looking to change the way enterprises source diverse talent from community organizations, recently raised $4.75 million in funding to support DEI initiatives. https://hrtechfeed.com/risekit-raises-4-75m-for-recruiting-diverse-talent/ In a move to further provide its customers with efficient and robust hourly hiring processes, Fountain, the world’s leading applicant tracking system (ATS) for high volume hiring, today announces the launch of Fountain AI to its suite of hiring solutions. https://hrtechfeed.com/fountain-launches-a-new-conversational-ai-feature/ HeadRace, a recruiting platform, announced today that it raised $6M in seed funding from Greylock, Susa Ventures, and Breyer Capital with Packy McCormick, Kindergarten Ventures, and Blue Lion Global participating in the round. The company also announced that its technology platform is now available to any recruiter or employer who wants to use it. https://hrtechfeed.com/headrace-lands-6m-to-democratize-the-recruiting-industry/ Barley, a compensation management platform that makes it easy for companies to structure, analyze and manage pay, launched last week with $4 million in seed funding led by Golden Ventures. https://hrtechfeed.com/barley-launches-with-4m-in-seed-funding-to-make-compensation-more-structured-transparent-and-fair/
Wage Benchmarking Tool, Employee Experience
5:17Aspen Tech Labs, a provider of recruitment technology solutions, announced that it has launched the Wage Benchmarking Tool as a part of its existing Job Market Pulse product. This new tool enables employers and researchers to compare real-time salary data pulled from the nine-million-plus real-time active job listings – as well as the historical database – that Aspen Tech Labs maintains. https://hrtechfeed.com/aspen-tech-labs-launches-wage-benchmarking-tool-to-enhance-business-intelligence-and-salary-research-efforts/ FOUNT Global, Inc. (https://fount-ex.com) announced it has secured $8M in funding to help organizations identify what’s at the root of employee dissatisfaction and productivity, and prioritize what to fix in their work environment. The Series A round was led by Lavrock Ventures with participation from existing investors Osage Venture Partners and Grotech Ventures. https://hrtechfeed.com/employee-experience-tool-lands-8m/ CUPERTINO, Calif.– Glider AI, a Skill Intelligence Platform, closed a total of $10M in Series A funding from Primera Capital and other industry leaders…the company will use the funds to continue its expansion in contingent programs and permanent hiring, furthering the development of proprietary technology, and growing its global team. https://hrtechfeed.com/glider-ai-10m-series-a-to-help-enterprises-shift-to-skills-based-hiring/ Lattice, the leading provider of people success software that empowers business leaders to build thriving companies and high-performing teams, today announced the official launch of Lattice’s People Strategy Group, a consulting collective designed to help senior leaders build effective people programs with confidence, improve employee engagement, maximize team performance, and drive superior business results. The group is an evolution of Lattice’s Advisory Services with an emphasis on preparing companies for the ever-evolving world of work. https://hrtechfeed.com/lattice-launches-people-strategy-group/
myInterview Video Interview Software
17:31Video interview platform myInterview recently landed an $11 million dollar Series A investment and we’ll talk to their co-founder about it…next on the Rec Tech podcast…. myInterview uses asynchronous video and AI to encourage candidates to express their true selves and lets hiring managers identify the best hire with a focus on user experience. The platform which launched in 2016, enables team collaboration, workflow management and seamless integrations into major HR technology stacks and is in use by 10,000+ companies. co-founder, Benjy Gillman helps set the strategic direction for the company and manages its success. And he joins me now via zoom 1. Hows the current state of the hiring market? 2 You guys launched in 2016 so what have you learned about video interviewing since that point…any lessons along the way? 3. There's been a lot of talk about hiring Gen Z candidates, both challenges and opportunities - what's your take on it? 4. Is the current recruitment technology stack out there fit for Gen Zs? 5. If an organization doubles down on trying to attract Gen Z candidates, do you think that will alienate other candidates who don't fall in that bracket? 6. Describe how it works from a job seeker point of view?
Google for Jobs Gets Interesting
5:47WorkLLama, technology provider of an AI-driven, talent marketing, relationship management, and direct sourcing suite, today announced it has secured $50 million in investments, an indication of the market’s demand for modern technology to access highly skilled, on-demand talent at scale. https://hrtechfeed.com/workllama-raises-50m/ Emissary.ai, a leading text recruiting platform, announced today a new technology partnership with UKG, a leading provider of HR, payroll, and workforce management solutions for all people. With more than 315 technology services partners, UKG provides one of the largest and most collaborative partner ecosystems in the HCM industry focused on creating better employee experiences to improve business outcomes. https://hrtechfeed.com/emissary-announces-technology-services-partnership-with-ukg/ Bonusly, an engaging recognition and rewards platform that connects teams and enriches company culture, today announced it has received $18.9 million in Series B funding led by Ankona Capital. https://hrtechfeed.com/recognition-and-rewards-platform-raises-18-million/ Well with advertising spending on the downturn Google may be changing its mind on letting you sponsor jobs inside the Google for Jobs interface. Hat tip to Tom Chevalier from Appcast who first spotted this on mobile. https://www.jobboardsecrets.com/2023/03/01/google-for-jobs-testing-sponsored
The Appcast Recruitment Marketing Benchmark Report
30:46Andrew Flowers is the lead labor economist at Appcast, today he’ll discuss the results from the report, the current labor market and how hiring professionals can use this report to overcome another rough year for recruiting. What are the key takeaways from this year's report? One of the key metrics Appcast analyzes, is apply rates. Apply rate is the number of people who actually complete a job application after having clicked on a job, represented as a percentage. Its inverse is the candidate drop-off rate. Overall, the median apply rate increased to 4.34%, from 4.05% the previous year, which – while welcome news – means that almost 96 % (95.66%) still do not finish their online job applications. We finally see at least a slight uptick in the number…Im guess due to more candidates in the market? insightful strategies, to stay ahead in the labor market, such as: Catch the eye of more potential candidates with short job titles and concise job descriptions. It pays to be transparent: job ads without pay information in the job title cost employers on average $2.30 cost-per-click (CPC), while job ads that included pay information in the job title resulted in a lower CPC, just $1.49.---so companies should put salary in job title, give me an example…? Pay attention to the device habits of your job seeking audience and – especially for job functions with the heaviest volumes of mobile applications – develop a mobile application process that is just as efficient and friction-free as it would be on a desktop computer. Timing is everything: Tuesday and Wednesday are the new frontrunners for the highest volume of job applications. In the past, this was Monday. Which jobs are still the most expensive to recruit for? Looks like the state of Georgia had the highest apply rate at 4.47% New hampshire has the highest CPA rate at $33.58 https://info.appcast.io/whitepaper/2023-recruitment-marketing-benchmark-report
ZipRecruiters Near the One Billion Mark
5:47GoodJob, the #1 pre-hire assessment software available in the marketplace today, announced a partnership with Merge, the Unified API for B2B integrations. As a result of this partnership, GoodJob’s software now supports integrations with over 50 popular Applicant Tracking Systems (ATS), including Workday, SmartRecruiters, Lever and Greenhouse. Recruiters, HR teams and business leaders can use GoodJob’s software within their current ATS, allowing them to hire confidently and retain high-performing candidates. https://hrtechfeed.com/goodjob-partners-with-merge-to-integrate-with-over-50-applicant-tracking-systems-ats/ DALLAS — HireLogic, an artificial intelligence (AI) enabled hiring interview intelligence solution, today announced a $6M series A funding round led by Joseph P. Landy, former Partner and Co-Chief Executive Officer of Warburg Pincus. Existing investors from HireLogic’s seed round also participated, bringing total funding raised to over $10M. This investment will be used to advance the capabilities of HireLogic’s conversational analytics platform, expand go to market activities, and meet the demands of the firm’s growing customer base. https://hrtechfeed.com/hirelogic-secures-6m-series-a-funding/ ATLANTA — LaborWorx, a tech-enabled staffing startup that helps construction and manufacturing companies connect with on-demand workers, has raised $4.2 million to continue its mission of solving the skilled worker shortage. https://hrtechfeed.com/laborworx-raises-4-2-million-for-skilled-worker-recruiting-platform/ CANADA - talent assessment platform Plum today announced details of its $6 million USD round of growth funding. Led by Pearson Ventures, other new investors include JFF Ventures and Strada Education Network. Existing investors Export Development Canada (EDC), Real Ventures, BDC Capital’s Women in Technology Venture Fund, EduLab Capital Partners, and Impact Engine also participated. https://hrtechfeed.com/plum-raises-6-million-for-talent-assessment-platform/ ZipRecruiter® announced financial results for the quarter and full year ended December 31, 2022. Quarterly revenue $210.5 million, down 4% y/y Full-year revenue $904.6 million, up 22% y/y – fast approaching the billion dollar mark https://www.jobboardsecrets.com/2023/02/22/ziprecruiter-announces-fourth-quarter-and-full-year-2022-results/