News for the Talent Acquisition Technology Industry
StepStone acquires majority of U.S. technology provider Appcast
The StepStone group acquired 85 percent of the US-American company Appcast for about EUR 70 million. Appcast is the leading technology provider for programmatic job advertising in the US. With the acquisition, Axel Springer continues its growth strategy and further expands the StepStone group’s portfolio of intelligent recruiting and matching tools. Appcast specializes in displaying job ads online precisely where suitable candidates find them. Appcast’s clients include well-known US brands as well as hundreds of other companies from all industries. Appcast was founded by CEO Chris Forman in 2014. He will continue to lead the company after the takeover of the majority stake by the StepStone Group. Today, the company headquartered in Lebanon, New Hampshire, already employs about 100 people.
Girlboss pivots to provide a LinkedIn for professional women
Girlboss is the multi-media brand for women founded by serial entrepreneur Sophia Amoruso, whose last company, Nasty Gal, presaged the direct to consumer trend before collapsing under the weight of its own ambition. Now, Amoruso is back with yet another iteration on Girlboss, the media site launched off the strength of her podcast, in what it’s labeling as professional networking 2.0. With their free membership, women who sign up get access to other entrepreneurial women and the ability to ask and answer questions from their peer group. The profiles take LinkedIn one step further, according to the company, by including accomplishments, “life moments” and other elements to make the social network more personal — like a daily horoscope and a Meyers-Briggs type. Other content like fireside chats, community questions and thought leaders, and access to a full member directory, will also be part of the community.
Human Resources May Not Be Prepared for the Future
Human Resources (HR) has come a long way over the last century, but the outlook for its future is uncertain. The HR Research Institute, a division of HR.com, recently conducted the second annual longitudinal study to investigate and track the state of the HR function. The newly released research report, The Advancing HR Function 2019, reveals that most HR departments are poorly prepared for the near future and will need to quickly adjust. Only about a third (36%) give their departments high marks when it comes to being prepared to thrive in the next three to five years. One of the key concerns for HR professionals is that the profession tends to suffer from major skills gaps in three key areas: communicating effectively, demonstrating leadership, and leveraging HR data/analytics.
What Libra May Mean for Facebook and Everyone
With a population of 2.3 billion, Facebook is the largest assembly of people in history. Facebook’s users are the willing subjects of Mark Zuckerberg, a benevolent monarch who has complete control of what his subjects see and do on Facebook. … If Libra and Calibra are successful, Facebook will have control of information (Facebook, WhatsApp, and Instagram), weaponized information (a virtual military), and currency (Libra). I’m pretty sure that makes Facebook the largest government on earth.
Symphony Talent Launches Industry’s First Full Path Analytics
Symphony Talent, a leading talent marketing solutions provider, announced the standard availability of an analytics tool in its Experience Cloud (XCLOUD®) platform which provides a holistic view of all touchpoints in the candidate journey. The influencers report credits all of the marketing funnel touchpoints that have had an impact on each application and hire, giving a full path view from first interaction through to hire. Utilizing a proprietary data management platform, Symphony Talent is able to store and analyze unprecedented quantities of talent marketing data covering all candidate touchpoints in one data set including paid ads, social, conversational messaging, organic search exposure and all aspects of the careers website experience. With this data, talent leaders have complete visibility into candidate behavior, which Experience Cloud then uses for intelligent and automatic optimization and candidate experience enhancement.
New Tax Credit Job Board Connects Employers to Qualifying EBT recipients
A first-of-its-kind job portal from financial technology leader FIS™(NYSE: FIS) is helping Electronic Benefit Transfer (EBT) recipients find jobs, while connecting the employers who hire them with up to $9,600 in federal tax credits per hire. As a leading EBT processor, FIS is offering the Tax Credit Job Board as a way to link EBT recipients and other qualifying job seekers with open positions at participating employers. Qualifying individuals include food stamp or supplemental security recipients, veterans, those unemployed for 27 weeks or more, and people who live in low-income areas. Applicants must complete an online profile to determine eligibility and can post their resume, picture and a video to the website or mobile app.
U.S. Unemployment Situation (June 2019)
Typically, when there are a lot of unfilled job vacancies it is because people are working and unemployment goes down; conversely, if there are not a lot of job vacancies, people cannot find jobs and unemployment is high. The reason we believe this relationship can work as an early sign of an upcoming recession, is that job vacancies fall and unemployment goes up during a recession. This occurred during the last two recessions so the question-of-the-day is if this is occurring now? Let’s discuss each item separately and start with the unemployment rate. As probably every staffing professional knows, there really are very few employable people who are not working. Coupled with the ongoing demographic shift as more people age and / or retire out of the workforce, we conclude that the most likely reason the unemployment rate has stabilized is because it just simply cannot go any lower. [With regard to the second point,] Anecdotal reports are surfacing that business are putting resources and money into automation in order to increase productivity instead of hiring new workers who they believe do not exist. Also, businesses also feel that the high degree of uncertainty with tariffs and trade makes them to take pause in bringing on more workers. The trend of stable job vacancies, albeit at a relatively high level, could be a sign of a static amount of business activity that may be turning downward in the future and the economy heads into a recession.