The Latest from the Talent Tech Industry
March 29-April 3, 2021: InfoJobs.net (Spain) launches tech job board; Harqen releases study indicating its AI technology is better at making hiring & college admission decisions than humans; CNBC’s Technology Executive Council cites War for Talent as key threat to businesses in 2021; Catalant Technologies raises $35M for its freelance marketplace; Talent Acquisition Institute of America unveils recruiter survey which found huge majority favor Ivy League grads; Datapeople grabs $8M to make recruiting more equitable; plus TA Tech NewZ Makers: Jessica Jensen to Indeed as CMO.
InfoJobs launches tech job board
Adevinta Spain’s market-leading recruitment portal InfoJobs.net has launched a tech recruitment portal in collaboration with Barcelona Tech City. The niche sub-site, called Tech Talent, advertises roles available at any of the businesses within Tech City. Barcelona Tech City bills itself a “project driven by local entrepreneurs that… represents more than 1,000 businesses.” These include start-ups, consolidated businesses, investors, incubators, accelerators, company builders, universities, business schools, media and government agencies.
Harqen’s AI-Powered Evaluation Technology Likely Better at Making Hiring or College Admission Recommendations Than Humans
Harqen.AI, a leading provider of AI-powered evaluation technologies for both corporate recruiting and college admission processes, today announced preliminary findings about the accuracy of the company’s AI technology by acclaimed Purdue University researcher and Industrial and Organizational (I/O) Psychologist Michael A. Campion, Ph.D. Dr. Campion, who is among the 10 most published and cited authors in the fields of I/O Psychology and Human Resources management, was hired by Harqen as a third-party consultant to help guide its ethical AI development and provide audits of the company’s AI models and practices. “Harqen’s results have shown that its AI technology is as accurate or better as the humans who currently make selection decisions such as recruiters, admissions advisors, interviewers, managers, or other hiring officials,” said Dr. Campion.
Cyber threats, ongoing war for talent, biggest concerns for tech leaders
Nearly half of CNBC’s Technology Executive Council (TEC) members say that aside from cybersecurity threats, the biggest risk they face over the coming year is finding enough of the talent they need. And in an effort to expand that pool of candidates, respondents say they have even eliminated requirements that applicants have certain types of academic degrees in order to get hired. These are just some of the findings of CNBC’s most recent quarterly survey of TEC members. Against the backdrop of the pandemic, ongoing remote work, and headline-making cyber breaches such as the SolarWinds hack, a majority of tech leaders tell us that cloud computing, machine learning, and software-defined security are critically important to their organization’s tech strategy over the next 12 months. Half said that artificial intelligence is also high on their list of critical issues. Interestingly, respondents also named as important the development of energy transition technologies, as well as collaboration tools around cybersecurity. Of little importance to these tech leaders right now: biochips, nanotechnology, and autonomous vehicles.
Catalant Technologies Secures $35M Investment to Capitalize on Market Growth
Catalant Technologies announced the closing of a $35 million investment, led by the Morningside Group, to meet increased demand as more companies choose high-end freelancers over traditional consulting firms. Since 2013, Catalant’s Expert Marketplace has helped companies easily find elite independent experts and consulting firms. The investment brings Catalant’s total funding to over $100M. 2020 was a watershed year for Catalant as demand for freelancers in strategic areas like supply chain, corporate strategy, digital marketing, data analytics, and program and project management drove record returns in two consecutive quarters to close the year. Businesses are turning to the freelance economy over large consulting firms because they are more cost effective and faster to deliver value.
New Research Reveals Shocking Attitudes Among Recruiters
New research by The Talent Acquisition Institute of North America reveals some interesting attitudes among TA professionals. The findings, based on a survey of Fortune 500 companies, suggests that as recruiting picks up in 2021, organizations will have to elevate their practices to attract the right people. Here are the study’s top five findings: 61% of recruiters will refuse to hire candidates who didn’t attend an Ivy League school. With so many job-seekers about to flood the market, this is a prime opportunity to attract top talent. That means individuals who went to Princeton, Yale, and the like. Given overwhelming research that shows that an Ivy graduate will always outperform someone who went to a community college, recruiters will be clamoring for only the most highly educated candidates.
Datapeople announces $8M in raised capital to make recruiting more equitable
Datapeople, a startup that sells software designed to make recruiting more equitable, announced that it has raised $8 million across two funding events, including a $5 million round in mid-2020. The company, which counts Uncork Capital, NextView Ventures and First Round Capital as backers, does two things. Its initial product, what Datapeople calls “Language Analytics,” scans job postings, offering suggested edits to customers to help them attract a more diverse group of applicants. And, coming shortly, Datapeople is rolling out what it calls “Recruiting Analytics,” a service that provides a high-level view of a company’s aggregate recruiting efforts. The recruiting side of its software service will keep tabs on diversity data such as the pace at which a company’s job posting attracts women against related jobs’ own performance, among other bits of data-focused reporting.
TA Tech NewZ Makers
Jessica Jensen has joined Indeed as Chief Marketing Officer. Previously she served as SVP of Marketing at Kayak.