October 26-November 1, 2020: A new assessment tool from PeopleFactors, eQuest opens discount job board marketplace to the public, US Department of Labor boasts about the money it’s collecting from OFCCP remedies and recoveries, college grad site Handshake raises more money, Bullhorn and GermanPersonnel team up, Randstad reports revenue growth in 3Q, Zoom launches end-to-ten encryption, and JobScore partners with Recruitology. Just another week at work.
PeopleFactors Launches HR Pre-Hire Assessment Solution to Improve Hiring of Leaders and Strengthen Management Teams
PeopleFactors today announced the launch of a new HR pre-hire assessment and screening solution designed with a unique approach to accurately predict and identify candidates with leadership potential. The new HR solution uses multi-dimensional assessments and AI-based algorithms to create recommendations and reports on candidates with objective data, to help companies hire better leaders while also improving retention and eliminating bias in the hiring process.
eQuest Discount Job Board Marketplace Now Open to the General Public
eQuest today that it has released its web-direct, eCommerce, job posting gateway called eQuestXpress through its website at eQuest.com. The release will provide job posting access free of charge without the need for passwords, contracts, integrations with an Applicant Tracking System or CRM. The Xpress service waives eQuest job delivery fees – plus participating career sites have discounted their normal online posting fees by a sizable amount. There are many recruiters that do not have access to Applicant Tracking Systems or do not do the volume of job postings required to facilitate job board contracts. eQuestXpress eliminates these restrictions – allowing recruiters and companies posting privileges without any requirements – all from a single site.
USDOL Boasts OFCCP’s Monetary Settlements
The U.S. Department of Labor announced that the Office of Federal Contract Compliance Programs (OFCCP) in their just concluded fiscal year (FY) 2020, showed the best results for compliance assistance and the second-highest year for monetary settlements in the Agency’s history.
• In the last fiscal year (2019), OFCCP set the record for recoveries at $40.6 million, almost double any other year since the Agency’s inception in 1965.
• In FY 2020, backpay recoveries totaled $35.6 million, the second-highest year in history.
• From FY 2017 through FY 2020, the Agency recovered approximately $117 million in remedies for protected class members. The recoveries in these four years exceed the recoveries in the previous nine-year period of FY 2008-2016 combined. These monetary amounts are primarily remedies for race and sex discrimination in employment, predominantly in hiring and compensation.
Handshake raises $80M more to build a more diversity-focused LinkedIn for college students
College graduates this year (and perhaps in the near-term) have been looking for work in what is one of the most challenging job markets in a decade due to the coronavirus and its impacts on the economy and how people can interact with each other. Today, a startup that’s helping them with that job hunting process is announcing a big round of funding to grow its business. Handshake, which provides a platform for college-aged students to register their interest and skills and search for suitable work, and for recruiters to search for candidates and advertise entry-level openings, has raised $80 million in a growth round of funding. Handshake is not disclosing its valuation but a reliable source close to the startup said that the valuation has more than doubled since its last round. That was at $275 million, putting the likely valuation now between $550 million and $600 million.
Bullhorn and GermanPersonnel Announce Partnership for DACH Recruitment Agencies
Bullhorn(R), the cloud computing company that helps staffing and recruiting organisations transform their businesses, announced that it has entered into a strategic partnership with DACH multi-posting/e-search provider GermanPersonnel GmbH. This partnership will lay the groundwork for the providers – both of whom offer true multi-tenant SaaS-based solutions – the opportunity to build a robust recruitment solution for DACH agencies that combines a globally-leading front office (Bullhorn) and the leading provider of programmatic job advertising solutions to DACH companies (GermanPersonnel). The combination of efforts of these true cloud companies gives DACH recruitment agencies the choice, confidence, and flexibility they need to grow their businesses and scale without limitations
Randstad Q3 core earnings 199 mln euros, sees revenue recovery
Randstad, one of the world’s largest staffing companies, reported on Wednesday better-than-expected third quarter core earnings and said it was seeing a “significant recovery” of revenues lost earlier in the pandemic. Underlying earnings before interest, taxes, depreciation and amortisation (EBITDA) was 199 million euros, beating estimates in a company compiled poll of 129 million euros. The figure in the third quarter of 2019 was 236 million euros.
Zoom Launches End-to-End Encryption for Free and Paid Users Globally
Zoom’s end-to-end encryption (E2EE) has arrived, letting both free and paid users secure their meetings so that only participants (not Zoom or anyone else) can access their content. Zoom says E2EE is supported across its Mac, PC, iOS, and Android apps, as well as Zoom Rooms, but not its web client or third-party clients that use the Zoom SDK. Zoom previously offered encryption for its calls, but the data was only encrypted between each meeting participant and Zoom’s servers, rather than being end-to-end encrypted between participants. Some Zoom features not covered by E2EE include cloud recording, live transcription, polling, meeting reactions… the list is long. Please read Zoom’s documentation for a full explanation of the new security features.
JobScore Partners with Recruitology to Provide Programmatic Advertising to Employers
JobScore, one of the top applicant tracking systems (ATS’s) with users in over 150 countries, and Recruitology announced a collaboration to help employers find and hire great people. Through the partnership, employers on JobScore can now post jobs on Recruitology’s MaxRecruit(R) Platinum programmatic job distribution and bidding platform. Jobs posted via MaxRecruit Platinum will automatically go to top job sites and aggregators, where employers will benefit from MaxRecruit’s AI-powered technology that matches employer requirements with candidate skills.