Talent acquisition software company Radancy acquired Ascendify, a cloud-based talent engagement software platform. According to the company, the acquisition enhances Radancy’s suite of solutions focused on helping enterprises find the talent they need to strengthen their business.

Comeet, a recruiting software provider, launches a new AI assistant that aims to enable better hiring decisions, improve candidate experience and promote diversity and inclusion. According to the company, the solution leverages OpenAI’s GPT to create job descriptions, pre-screening questions and email templates. In addition, the company said the assistant will soon be able to make interview questions and scorecards.

Oyster announced Oyster Total Rewards, a new suite of solutions meant to help companies design a compensation strategy and offer salary, equity, and benefits for teams. The company said the solutions are competitive, compliant, aligned with budget and—most importantly—aligned with employee expectations.

HireRight acquired a background screening provider based in Argentina. The company said this will Inquiro Vitae allow for more targeted local support for its customers hiring across Latin America.

Launched as the U.S stands on the precipice of recession, the Conference Board Job Loss Risk Index measures the likelihood of layoffs in individual industries, based on factors such as demographics, labor shortages and sensitivity to monetary policy. The Index measures the likelihood of layoffs in individual industries based on several key factors including demographics, labor shortages, and sensitivity to monetary policy.

Likewise, a pullback in e-commerce and discretionary spending on goods is likely to cause job losses in transportation and warehousing, while construction is at risk due to weakness in the housing market amid rising interest rates.

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The platform promises reduced “candidate churn” using conversation AI and automated interview settings. In addition, the company’s financial model only requires users to pay when a candidate is hired.

“Hiring teams spend the most time creating jobs, screening resumes, scheduling interviews… At Fyndo, we realized that most of these tasks [could] be automated using the technology,” said Fyndo Chief Product Officer Kaushik Vinay.

AI-Driven

Fyndo describes its solution as an AI-driven recruitment platform that automates the hiring process for the hiring teams at SMBs. The platform sources, screens and schedules interviews with the best-matching candidates, the company said, relying only on minor human intervention. In addition, the automated process completes hiring more quickly and eliminates unintentional human bias during the screening process, Fyndo said.

Fyndo CEO Amit Chauhan estimates recruiters can get back one hour each day during the recruitment process by using his platform. “Hiring teams spend too much time doing tasks that could be automated and improved by today’s technology,” he said.

Fyndo distributes job postings to “major” job sites with one click, allowing employers to quickly reach both active and passive candidates. Its proprietary AI technology screens job description data points and matches them against a candidate’s information, Fyndo said. It then showcases the best candidates and notably reduces the time spent reviewing applications. The AI also detects fraud and spam applications and removes them from the application pool.

Fyndo said it uses AI to automate job creation, distribution, candidate screening and communication. The use of AI, Fyndo said, allows employers to speed up their hiring process, reach more candidates and keep interested candidates engaged.

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Cornerstone OnDemand unveiled what it calls the industry’s first holistic career growth, mobility and talent marketplace. Available through the company’s Talent Experience Platform, Opportunity Marketplace combines AI with the principles of human-centered design. The goal is to unlock new possibilities for employees while helping organizations improve engagement, retention, workforce agility and internal mobility, the company said.

Phenom released new products and features at last week’s IAMPHENOM conference, including tools to improve talent acquisition’s efficiency, monitor and manage the skills-related needs of both employees and managers, and leverage AI to automate content creation and eliminate a number of tasks normally shouldered by users throughout the talent acquisition process.

Eightfold AI said it’s integrating recent versions of generative AI large language models in order to create two role-specific Talent Intelligence Copilots. On top of that, Eightfold’s Talent Insights will reflect the changing skills and roles created by generative AI in the labor market. Eightfold said that with the changes, the Talent Intelligence Platform will offer greater assistance for both employees and recruiters, increasing both effectiveness and productivity.

Talent acquisition software company Radancy acquired Ascendify, a cloud-based talent engagement software platform. According to the company, the acquisition enhances Radancy’s suite of solutions focused on helping enterprises find the talent they need to strengthen their business.

HireRight appointed Venkat Bhamidipati to its board of directors. In addition, the company said he will serve on the audit committee.

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The company said, the system uses GPT technology to break down job descriptions into search criteria such as job title, required skills and preferred skills. From there, it analyzes over 800 million profiles in SeekOut’s talent database to find the best matches.

As such, the only task for recruiters is to paste a description into the software and wait for the list of qualified candidates to be generated, cutting down on the time and effort usually spent seeking out potential candidates manually.

Personalized Outreach at Scale

The best recruiters research candidates and craft highly personalized messages to increase their email response rates. SeekOut Assist generates a personalized message to the candidate based on their unique qualifications for the role.

In addition, SeekOut Assist analyzes the information in each candidate’s SeekOut profile, including skills and experiences. The technology uses the candidate profile and job description to write a personalized outreach message to the candidate, improving the chances of a response.

SeekOut believes its new approach to generative AI could have a serious impact on how recruiters get their jobs done in the future. To use Josh Bersin’s words, “Generative AI will be a total game changer in HR.”

“SeekOut Assist is a big step forward in solving real business problems with the power of Generative AI and will make our customers radically more productive and effective,” said SeekOut Co-Founder and CTO Aravind Bala. “We’re excited about the future of AI in the HR technology space, and look forward to working with our customers and partners to build new tools that make recruiters’ contributions to their organizations even more strategic.”

What This Could Mean

This could be a step in the right direction for the use of AI in hiring. Recruiters have been focused on the role of AI in the field since long before the introduction of ChatGPT because of the variety of uses and the possibility of timesaving. As we’ve said in the past, recruiters and hiring teams need to practice caution when it comes to new software like ChatGPT. But that doesn’t mean that these technologies are useless.

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Hireology announced an AI-powered recruiting assistant, called Beaker. It can generate job descriptions in a matter of seconds, the company said, empowering employers to attract the right candidates more quickly for their open positions. Beaker is powered by ChatGPT, an advanced language processing model developed by OpenAI. The product allows users to input details like a job title and location. Once they’re done, Beaker generates a clear and concise job description that is optimized for search.

High volume ATS provider Fountain added a conversational AI feature, Fountain AI, to its product suite. The feature helps recruiters to screen and qualify candidates efficiently and automates manual processes. Fountain AI aims to accelerate the hiring funnel and help hiring managers get candidates through the process faster, according to the company.

SkillGigs, a talent marketplace that pairs healthcare and technology job seekers with AI-matched work opportunities, unveiled a new platform experience for its users. With it, the company believes both employers job candidates can more effectively create listings, screen through matches and have more productive compensation negotiations during interviews.

Recruiting platform HeadRace raised $6 million 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. For recruiters, HeadRace offers a technology platform that provides opportunities to connect with new customers and earn.

Talent assessment platform Plum announced that Greggory Moran has joined the company as senior director of partnerships. He brings a heap of industry experience including his most recent position as director of partnerships at PandoLogic.

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Skills intelligence platform Glider AI closed $10 million in Series A funding from Primera Capital and other industry leaders. The company said it will use the funds to continue its expansion in contingent programs and permanent hiring, further development of proprietary technology and grow its global team.

Hireology rolled out a new integration with Indeed, further expanding the companies’ partnership. The integration will allow Hireology customers to drive more relevant job applicants from Indeed, the company said. With it, all new or updated external jobs created in Hireology will be sent directly to Indeed via an XML feed, ensuring that an employer’s up-to-date job content is automatically available in Indeed’s free search results.

Interview company Karat acquired Triplebyte’s technical assessment product and its team. The acquisition adds a top-of-funnel, skills-based assessment to Karat’s suite of Interviewing Cloud offerings, helping organizations identify and hire technology professionals more quickly, more accurately and fairly. Triplebyte’s sourcing business, Magnet, and its candidate talent network will wind down effective March 31. Karat will anonymize the underlying data for analytics purposes.

Tundra, a direct source curation provider, and integrated workforce management platform provider Magnit said they’re to create what they say will be the world’s most scalable direct sourcing solution. Through their partnership, Tundra and Magnit will provide a total talent solution that streamlines the contractor experience, without the need for alternative channels.

Recruiting still holds promise for 2023 despite layoffs and cost-cutting by companies, according to a recent report by Gem. The 2023 Recruiting Trends report found that 24% of recruiting organizations saw reductions in force in the last half of 2022—but 33% of smaller organizations and 54% of larger organizations saw recruiting team growth. In fact, 75% of talent acquisition professionals at smaller organizations and 70% at larger organizations said that they expect the headcount at their companies to increase in 2023.

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Beamery announced a number of enhancements to its product suite, all to help organizations better understand the skills they have and those that are missing in order to build a future-ready workforce. The features provide new insights for managers around the skills each team member has, paired with the ability to see the skills that shape a role.

Talent acquisition platform HireRoad unveiled HR Onboard, which offers onboarding and learning management systems, as well a data-driven insights platform designed for mid-size organizations. The company said the platform will streamline the hiring process and reduce the time it takes to onboard new recruits and develop them into full contributors.

Despite an ongoing shortage of experienced tech talent and persistent equity gaps across industries, HR and hiring leaders have been slow to adopt new approaches to recruitment and retention, according to General Assembly’s new report, The State of Talent Acquisition 2023.  Among the findings: Time spent filling high-demand tech roles is a top priority, and is also at an all-time high. And, non-traditional approaches to recruitment  – like skills-based hiring – are not being adopted quickly enough to keep pace with the changing labor market.

Hireology announced a new integration with Indeed, further expanding the partnership between the two companies. With the integration, all new or updated external jobs created in Hireology are sent directly to Indeed via an XML feed.

Talent assessment platform Plum closed $6 million dollar in a growth funding round led by Pearson Ventures. The company said it will use the funding to ensure businesses are ready for the changing world of work while keeping an eye on the quality of work and how that connects the employer and employee.

Jitjatjo, a workforce management and internal talent marketplace for contingent labor, launched a benefits program for gig workers, called Better by Jitjatjo. The product will offer gig workers a suite of benefits from health and finance to wellness and lifestyle.

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The product uses AI to identify passive job-seekers from its database of 1.5 billion profiles. In addition, it engages active job seekers through programmatic campaigns on “thousands of job sites.” From there, the technology contacts the prospective candidates automatically. It’s designed to provide a one-stop-shop for sourcing both passive and active job seekers, the company said.

Paycor said this doubles the interview pipeline for organizations. In addition, Paycor Smart Sourcing automates each step of the sourcing process to help employers expand searches, engage with candidates and filter candidates by diversity.

“This competitive labor market has made recruiting and retaining top talent more important than it’s ever been,” said Paycor Chief Executive Officer Raul Villar, Jr. Paycor Smart Sourcing, he explained, will enhance the company’s talent solution and make it easier for frontline leaders to “find skilled and diverse talent quickly and cost-effectively.”

Recruiters can access the platform by logging into Paycor Smart Sourcing. From there, they’ll then begin to receive interviews through their ATS account.

Combined Talents

Paycor acquired Talenya in October 2022. At the time, the company said its goal was to alleviate the pressure on employers caused by increased competition and changes in the labor market. With the acquisition, customers would be able to reduce time to fill and source both active and passive candidates. For those pursuing a DEI strategy, the platform would highlight diverse candidates, which Paycor says are often overlooked by traditional recruiting systems.

Needham & Company Analyst Scott Berg said he approved of the acquisition because it took advantage of two dominating trends in HCM today: more advanced recruiting tools and solutions that improve DEI efforts.

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The platform automates the recruiting process of identifying best-fit candidates for open positions, improving efficiency while also broadening the talent pipeline. In essence, it works like a virtual sourcing assistant, tapping into the world’s largest database of passive candidates to find top talent for every organization.

The world of work, and especially the world of hiring, are being turned upside down as of late. In January 2023 alone, the U.S. economy has added a whopping 517,000 jobs, meanwhile, on the flipside, more than 100,000 workers found themselves laid off. As a result, recruiters are facing one of the most challenging labor markets to date.

This kind of unsettledness – good news and bad news landing at the same time – makes the business environment shaky. That impacts the world of talent acquisition, which is pressured by the demands of business performance on the one hand and empowered, picky candidates on the other.

Indeed, workers today are giving less weight to keeping their current job and more to pursuing new opportunities. They mean it, too. According to the Harvard Business Review, employers will continue to face challenges to their efforts to build and develop their workforce. Among those trials are competition for talent, pressure to control costs and the threat of an economic downturn. “How employers respond,” wrote HBR, “could determine whether they are an employer of choice.”

And today, everyone wants to be an employer of choice. In this environment, attracting and engaging the right candidates, offering them a solid experience and hiring them more quickly are all critical components of a comprehensive – and successful – talent acquisition strategy.

That’s where Paycor Smart Sourcing comes in.

But let’s look at specifics. Here are five ways Paycor Smart Sourcing can help your recruiting efforts.

Surfaces Better Candidates: Paycor Smart Sourcing uses AI tools to review and collect talent data from a variety of public sources, then compiles them into profiles that increase your chances of finding the right talent for any given role. On top of that, its AI eliminates keyword search, understands job descriptions in context and can run granular searches.

With machine learning, recruiters rate candidates by selecting “thumbs up” or “thumbs down” to train the algorithms. The software then looks for commonalities in the recruiter’s selections and prioritizes the candidate list accordingly.

Identifies More Diverse Candidates: Paycor Smart Sourcing identifies diverse talent based on dozens of parameters. It breaks down the candidate set to provide a true picture of diverse candidates’ availability. AI-powered dashboards track diversity KPIs while big data helps create a roadmap for hiring and retaining employees, both general and diverse. Paycor Smart Sourcing uses AI to identify diverse talent and boost participation in the hiring pipeline, without offering preferential treatment. And, it reduces time-to-hire by sourcing candidates who may be ideal for a role but have been overlooked by traditional systems.

Increases the Pipeline: AI tools collect public information so you can access a wider range of talent without spending hours searching every possible source. AI tools collect talent data from a multitude of public sources, curate them into profiles and increase your chances of finding the right talent for open roles. By using AI to tap into additional data sources and compile them into unified profiles, the system can more than double your talent pool (compared to using only LinkedIn) while making it much richer.

Drives efficiencies: Paycor Smart Sourcing works like a virtual sourcing assistant, leveraging the world’s largest database of passive candidates, examining them, then reaching out to the most promising possibilities for each role. Completely automatic, it takes hiring to a new level of efficiency and quality.

Focuses Recruiters: Recruiters spend a lot of time juggling things to do, which chews up both hours and efficiency. Paycor Smart Sourcing allows users to devote more attention to the personal aspects of their job, whether it’s leading and coaching a team of recruiters or connecting and developing relationships with candidates. In turn, that results in higher candidate engagement, reduced time and cost to hire and more time dedicated to developing the relationships that lead to good outcomes.

Given the obstacles they face today, recruiters are under pressure to work efficiently and intelligently. Paycor Smart Sourcing helps them do just that by helping them search more efficiently and identify diverse candidates more accurately. In a challenging labor market, it helps recruiting teams succeed.

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HireLogic announced a $6 million Series A funding round led by Joseph P. Landy, former partner and co-CEO of Warburg Pincus. Existing investors from HireLogic’s seed round also participated, bringing the company’s total funding raised to over $10 million. The 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 customer base.

Nucamp, a coding instruction company, said it will add all of its coding bootcamps to Degreed’s platform of training programs. According to the company, the partnership will give businesses access to web development skills for their employees.

Wolfe Inc. expanded its WolfeOne software to include HRIS functionality. With the expansion, the company’s clients can document and store employee information such as salary information, start date and end date, while also uploading supporting documentation.

ShiftPixy released its new “Fast Fill” recruiting technology, which the company says facilitates employment in the rapidly growing Gig Economy. Fast Fill can identify and target potential shift worker and connect them to open shift opportunities. The tech uses a mobile application to reach available workers directly.

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RecruitingCRM launched its recruitment management platform to help recruiters manage their clients and candidates. The platform is integrated with the Talentroom.com recruiting marketplace to give users access to a network of candidates from other recruiters’ databases. RecruitingCRM said its aim with the platform is to reduce time spent by recruiters on repetitive and manual processes by creating a free platform of tools.

myInterview closed an $11 million Series A funding round. The investment will allow myInterview to expand its product offering to help better attract and engage talent at scale. The round was led by the company’s existing investors Aleph and Entrée Capital, along with new investor Jesselson Capital. It included participation from SeedIL Ventures, Digital Horizon and Ocean Azul Partners.

Recruit Rooster, a provider of talent acquisition technology and solutions, announced a suite of new recruitment tools. The products include text engagement, marketing automation and talent profiles, as well as an analytics dashboard for data and insights.

The recruitment process outsourcing market is estimated to increase by $7.6 billion between 2023 and 2027, at a CAGR of 15.2%, according to a report from Technavio.

Fountain appointed Steve Bamberger as its chief revenue officer. He brings 30 years of experience in enterprise software to the position, including his most recent role as chief revenue officer at Visier.

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In addition, the company is releasing new product features and improved capabilities that will allow users to discover, evaluate, hire and work with Upwork’s global pool of professionals. All of these candidates have indicated their openness to full-time work, Upwork said.

With this it seems Upwork is betting it can leverage its experience helping businesses find talent around the world to address recent challenges filling full-time positions.

End to End

Highlights of Upwork’s solution include:

• A mechanism to allow clients and talent to trial a contract-to-hire working relationship before they commit to a long-term engagement. Since the beginning of 2023, clients testing this feature posted over 40,000 contract-to-hire jobs on the Upwork marketplace, the company  said.
• Expanded availability of Upwork’s payroll, compliance and contract management tools – formerly reserved for Enterprise Suite clients – will help small and mid-size businesses classify and pay talent, whether found on Upwork or sourced through their own network.
• Enhanced Enterprise Suite capabilities help large businesses classify, hire and pay full-time talent at scale, driven by customized onboarding workflows, systems integrations and advanced reporting that accelerates talent innovation.

According to Upwork’s 2022 Future Workforce Report, 93% of hiring managers often or occasionally convert freelancers into full-time employees. Their top reasons for doing so: the quality of the freelancer’s work (71%) and the ability to try working with the freelancer before hiring them (41%).

In a blog post, Dave Bottoms, Upwork’s vice president of product, said red tape, inefficiency, lack of good talent sources and complex international employment laws make global full-time hiring an “astronomically expensive bet.” “The process ultimately equates to a leap of faith for everyone involved,” he said.

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As of late, generative AI – especially GPT-3 and Chat-GPT– has been creating discussions in the industry for its variety of uses and promises of timesaving. As defined by the World Economic Forum, Generative AI uses algorithms to generate new and original content including text, audio, images and code.

hireEZ said that its GPT3-powered functionality will allow recruiters to generate candidate emails based on job descriptions. Thus, automating the laborious and time-consuming task of composing individual messages for recruiters.

“We see the use of generative AI as a massive opportunity to improve how businesses engage and communicate with talent,” said hireEZ CEO Steven Jiang. “Our goal is to make sure the technology works efficiently, and ethically, for both companies and job candidates. Any recruiter today will tell you they feel like they are doing the job of five people. We envision a future where AI can help one recruiter easily do the job of 10.”

The product release is set for March 9.

Machine Learning for Tailored Messages

To maximize the utility of each AI-generated message, the hireEZ platform will use proprietary machine learning data to automatically produce language tailored for recruitment. hireEZ is aiming to make it easier for recruiters to engage with job applicants and increase their ability to personalize candidate outreach at scale.

Initially, the new capability will be available to a limited group of customers, followed by others who have registered on a waitlist. After that, the product will be released to the public.

Artificial intelligence has been at the core of the hireEZ platform since it launched what it calls the world’s first AI candidate sourcing technology in 2017. The company is committed to the responsible development of technology and adheres to a formal set of principles for building AI systems. Last year, hireEZ launched two services, EZ Rediscovery and EZ Insights. EZ Rediscovery helps employers update information in their ATS, such as an individual’s work history, skills, email addresses and phone numbers. EZ Insights helps talent acquisition leaders develop strategic workforce plans by tapping into industry and competitor-specific benchmarking data.

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As companies ramp up layoff efforts to cut costs, a new survey finds holes in their offboarding processes, leading to ghosted exit interviews and stolen company equipment. According to Capterra’s  Employee Offboarding Survey, this “lax attitude” toward offboarding comes at a considerable cost. The survey found that 70% of HR workers said multiple employees skipped their exit interviews in the past year. In addition, nearly three-fourths said at least one employee didn’t return company-owned equipment, like a laptop or smartphone.

SilkRoad Technology completed a two-way integration between its candidate sourcing and applicant tracking systems, which the company said will create an end-to-end talent solution that covers the entire talent lifecycle. The combined systems, Search and Recruiting, will help organizations identify, reach, engage and convert talent, the company said. The integration’s goal was to allow clients to build strategic pipelines and deliver better candidate experiences from one location.

Willo, a Glasgow-based video interview company, announced an expansion of operations in the U.S. According to Insider.co.uk, the U.S. market already accounts for more than 65% of the business’s revenue.

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Sapia.ai joined Avature’s technology ecosystem, enabling customers to access the company’s chat-based AI interview tool. The company said it’s building partnerships with companies like Avature so that its AI Smart Interviewer can be more easily accessed.

Deel launched Deel HR, US Payroll and Deel Engage to allow companies hire, manage and pay global teams in one platform. The introductions come as Deel wraps up 2022 with $295 million in annual recurring revenue, up more than 400% from $57 million at the end of 2021.

Dalia, a recruitment marketing automation platform, completed a $5 million Series A round. The investment will be used to expand the company’s product suite, which seeks to maximize career site conversion rates.

Technology employers are making serious cuts to their DEI teams, a notable component of the wider downsizings that have taken place over the last several months. According to Layoffs.fyi, more than 150,000 workers were laid off by tech companies in 2022, with over 80,000 more following in 2023. So far.

Superintendent Search, an online resource board that helps school systems attract qualified job candidates and administrative leaders, launched at superintendentsearch.net. Using the site, school districts can post and manage profiles, create classified job listings, promote events and publish news articles. Users can also receive feedback on how effectively their listings are performing.

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