Thanksgiving is over, and business is business, so the boys are back in the saddle and breaking down the recruiting industry’s hottest news, including LinkedIn shutting down downloads and taking on Snapchat, Amazon tiptoeing into the job board game and jive turkeys galore. Enjoy and kick the tryptophan hangover with sponsors Sovren, JobAdX and Canvas.
It’s The Shred – a mini-Chad and Cheese bite of Breaking News — This is Chad Sowash
The Shred is brought to you by The Judge Group… The Judge Group A leader in technology and healthcare staffing providing top talent to organizations ranging from the Fortune 100 to the tech startups, across all industries. Check ’em out at Judge.com – that’s J-U-D-G-E – DOT COM or email them at firstname.lastname@example.org
On to the NEWS..
The market is tanking BUT venture money is still flowing…
WORKABLE – touted flexible, global, easy-to-use hiring software for the SMB market just hauled in $50m simoleans from private equity firm Zourk Capital, based in London for all of you start-ups looking to knock on doors…
How does Workable – an SMB Recruitment Platform / ATS – get someone to invest $50m? Note: Total investment is close to 90m…
Six years in business, 20,000 customers and 50 million candidates for starters and…
Workable’s blog states “There are several million SMBs in the world, and they do 70% of all hiring worldwide.” That’s a damned good start to a pitch…
Oh you want more?
How about Workable’s candidate REACH which has expanded to a network of more than 180 job sites, plus partnerships with LinkedIn and Indeed, and job syndication with Google and Facebook doesn’t hurt a bit.
But Chad we want AI and Machine Learning – well guess what.
Workable (like most of us) believes machines are better than humans at sourcing, as evidence from their blog – You’ll like using Workable “Unless you really think that a junior recruiter spending as little as six seconds per resume will not be outdone by a computer who has observed millions of human decisions and hiring outcomes.” That’s Workable sarcasm folks.
and I agree machines are better, but I’m not in the “observing dumb biased humans” camp with Workable. It sounds like a new wave biased Amazon algo centered on stupid human hiring tricks.
ANYWAY… What about competition like ZipRecruiter. SMB-focused and more than just your run-of-the-mill job board (cough) MONSTER (cough)… You know Zip has to have way more than 50 million candidate profiles and their reach is much larger, Better AI-matching, plus you know they are already in the lite ATS for SMB market already anyway. Or what about a little company called Google who launched Hire by Google and already has 3 million companies in G Suite?
I know, I know, there’s plenty of SMB’s to go around AND those Google, Zip and even Facebook’s play really just validates the Workable platform. – Well DUH they just received $50m…..
— BUT WAIT THERE’S MORE —
On demand STAFFING is HOTT!
Well apparently, it’s hot enough for Wonaloo, ONE-a-low OH HELL ONE-NO-LOW… to pull IN $32m of Venture from Bain Capital and DAG Ventures, which brings their total to nearly $53m via Crunchbase.
Why does a company with such a bad name deserve $32m additional dollars? Simple, the market has exploded with need for on-demand temp workers. Won-NO-Lo boasts no upfront cost and average time-to-fill in 4 minutes… I’m going to say that again – Average time to fill is — 4 FUCKING minutes…. That’s ridiculous and awesome at the same time.
It sounds like we are finally approaching the UBER for Temp Jobs app that Joel and I have been waiting for in the ONE-No-Lo app…
Wonolo caters to the unemployed, the underemployed, and “the ones looking for flexible work with jobs mainly in fulfillment, distribution, and logistics. Wonolo currently operates in eight main markets: Northern California, Southern California, New York, Chicago, Southern Florida, and Nashville.
In a VentureBeat article COO AJ Brustein declined to give revenue specifics, only to say that Wonolo’s revenue “well more than doubled” over the past year. The company was founded in 2014 and has 70 employees, including 12 sales people in its recently established “second headquarters” in Nashville.
But does Wonolo has a chance in competing with Uber’s infrastructure and workforce. Well, Lyft still seems to be kicking — so — yeah…
I just hope they have enough money to change their crappy name….
Big thanks to Judge for supporting The Shred – Go to ChadCheese.com scroll down to the Judge logo and download their newest paper “Blockchain the Future of Trust”… Getcha some of that Blockchain – You know you want it…
You know Uncommon for its programmatic recruitment advertising. But did you know they now provide an automated sourcing tool that helps employers access 150 million candidates … right now? Get your active and passive candidates in balance today by watching now.
Trump and job boards finally made the podcast as one story. Rejoice and all hail the podcast gods. What else is in this week’s show? Indeed hates your talent network, Google likes it on top and LinkedIn is putting another $2 billion in the kitty this year thanks to this … enjoy, and visit our […]
Jobiak promises to take job postings and put them on Google for Jobs, SEO ’em and throw-in a good helping of AI. Can they survive the firing squad? Gotta listen to this Talroo exclusive to find out.
It’s The Shred for November 13, 2018, brought to you by Judge.com. Guys, blockchain is all the rage right now. And if you’re like most of us, the whole thing is confusing, right? Don’t worry. Chad and I have been working with Judge to give you the foremost insight into what blockchain is and what it means to recruiting. And we’ve made it easy for you. Just go to bitly.com/judgeblockchain to download this free resource. That’s bitly.com/judgeblockchain. Or you can hit up chadcheese.com today. Let’s go to the news: We talk a lot about ZipRecruiter, and for good reason. They raise a lot of money. They sponsor the world’s most popular podcast. They’re really serious about AI. And now they’ve added some top notch names to their board of directors. Check it: Blake Irving, former CEO of GoDaddy, domain name registrar, who saw the company go public is on board. Cipora Herman is also here. she may be best known for leading Facebook’s IPO as the company’s vice president of finance and treasurer. She was also CFO of football’s San Francisco 49’ers. Emilie Choi joins too. She was LinkedIn’s vice president of corporate development and was there most notably for the $1.5 billion purchase of Lynda.com. She sits on the board of Naspers, a tech investor, and is vice president of corporate and business development at Coinbase, a cryptocurrency platform that just hit an $8 billion valuation after a $300 million raise. If you’re looking for a common thread here, aside from each new board members being undeniably influential and smart, they all have some level of core competency going public and/or raising significant amounts of money. Also, folks like this who join boards like ZipRecruiter’s do so because there’s the potential for significant upside. Big moves, big money, and big brains. Would anyone be surprised to see ZipRecruiter file for an IPO in 2019? Me neither. Be sure to tune into the weekly show for deeper opinion on news you hear on The Shred. Once again, thanks to our sponsor Judge.com. Wondering how blockchain impacts recruitment, head on over to bitly.com/judgeblockchain (no upper case letters, one word) or visit ChadCheese.com and click the Judge logo. Cheesman out.
Live from New York, the boys recorded the weekly show at HireConf, HiringSolved’s conference. In addition to covering news from Monster, Dice, Glassdoor and Under Armour, there’s a riveting interview with HiringSolved co-founder and CEO Shon Burton. Enjoy, and visit sponsors Sovren, JobAdX and Canvas.
At the iCIMS analyst day last month, the boys sat down with Erik Kostelnik, founder and CEO at TextRecruit, a recent acquisition by iCIMS. If you’ve never heard Erik, you’re in for a treat. We talk CareerBuilder, Dice, chatbots, competing with Slack and much more. Michael Wilczak, SVP, Strategy & Corporate Development at iCIMS also […]
Chad – Welcome to the last installment of this three-part Chad & Cheese iCIMS iNFLUENCE 2018 Series. In mid-Oct when Joel and I flew to NJ and landed at iCIMS HQ we really didn’t know what to expect. What we got was an event where Colin Day, iCIMS CEO and Chairman of the Board along with other iCIMS leaders shared their common vision for more than just iCIMS. It was an vision for the industry and how iCIMS was going to take the lead in reinventing it.
We’re starting out this final episode with the sweetest sound to Colin Day’s ears.
Colin – Well guess what, GDPR comes along it’s the sweetest thing we’ve ever heard. I know it’s annoyance for some or whatvere, but it needed to happen. So all of the sudden GDPR gets launched, candidates actually have rights, they should know what you’re storing on them. They should be able to edit it, archive it, delete it, update their preferences. And that quieted these boards down a little bit.
Colin – Even better, this thing called Cambridge Analytica happens, and that really begins to quiet down the boards. Now they aren’t going to remain quiet forver because their whole business model is in jeopardy if they don’t get the (hiring) signal data. Our viewpoint is, we have the opportunity to not ony go to GDPR but to take it even further. We want to be the moral compass for data security and privacy in our industry. We really really do.
Colin – So we’re creating something call PASSPORT, and Passport some of it you’ve heard before. This is kind of the create a single passport, single click apply. Make it dead easy. So for the customer the benefit will be candidate experience. The candidate will come in – if they haven’t created an iCIMS Passport – they can create one. If they’ve already created one we’re talking single click apply in to other companies. While they’re in their passport they have their data rights. We can show them everyone (organizations) they’ve applied to, what’s going on. They can say I’m okay sharing some of that (data) with LinkedIn or I’m fine if you send that over to background check. They can get a history and because we have a modern communications platform they can say how they want to be communicated with “Stop texting me”, “Stop emailing me” full their rights.
Chad – (Laughing) Remember JobFox, AllianceQ and even Taleo tried a Universal resume, but none of these efforts had the hammer of compliance and regulation not to mention the nasty stench of Cambridge Analytica to drive their efforts. iCIMS has found the perfect time to focus on creating a universal system predicated on protecting THE CANDIDATE.
But how will the candidate PASSPORT play bring it all together?
Colin – This is true end-to-end recruiting. This is why I’m so excited about the future. We’ve never been there. You know we’ve been the ATS but we’ve been reliant on “What is Google doing?”, “What are the boards doing?” or “What are the third-party sites doing?”. This is the first time we can say we’re gonna go in, full bore end-to-end. So we talk about, we will be right there when you post your jobs. We don’t want third-parties. We want to be right in there posting the jobs. We want to be right there when Google hands-off the traffic to your career site or you get it with programmatic advertising with a next generation of career portal. We want to be right there when the candidate applies. Hopefully they’ve built their passport already. If not, very easy to build a passport and we’ll show them everything they’ve ever applied to, all their data. When they update that data now you’re going to see the power of the marketplace. We can be that, not only through all of our products, but through the entire industry.
Chad – But the Enterprise Talent Management System buy is tdieous and time consuming at best. You’ll have to wait years until some companies are even ready to talk about this new integrated end-to-end system. In the meantime, how will iCIMS get their foot in the door and penetrate the market? aka drive new revenues?
Colin – How important is it to have these foot-in-the-door products? That when you walk into any unique customer you can say we can get you on our entire tech stack, starting with the ATS. Wonderful. If we can’t, let’s get you with the CRM, if we can’t let’s get you with our new Offer module, which we are going to building as portable as well. Let’s get you with TextRecruit and you’ll see some other things that we’re coming out with…
Chad – There it is… Most Enterprise systems aren’t complete at all, so iCIMS new modular product design will allow them to target competitors weaknesses and attack with a smile. Knowing this you can imagine iCIMS sinking further into client relationships where their probability of winning the full Enterprise buy down the road increases dramatically.
Chad – So that’s it kids… In this series we’ve heard how iCIMS is Working with Google Talent Solutions, creating a slow lane for job boards as iCIMS speeds by, getting rid of the user experience middlemen, embracing GDPR and attacking the market holistically and in chunks.
If you missed any of these episodes, or just want a quick review — You can find the entire iCIMS iNFLUENCE 2018 3 part series at chadcheese.com…
It’s The Shred for November 6, 2018, brought to you by Judge.com. Guys, blockchain is all the rage right now. And if you’re like most of us, the whole thing is confusing, right? Don’t worry. Chad and I have been working with Judge to give you the foremost insight into what blockchain is and what […]
We were totally unprepared for this chatbot startup. Mostly, because of the mere fact that they’re so far off the radar. They sound more like a Marvel villain. Boy, we did not see the Firing Squad that unfolded coming. How’d it go? Gotta listen to this Talroo exclusive.
Straight off Halloween’s sugar high, the boys are in rare form this week, talkin’ Handshake’s latest round of investment, protests at Google, the sale of eHarmony, Facebook’s rumored Workplace.com … and we absolutely kill Ladders latest offering. Enjoy, and throw money at sponsors Sovren, Canvas and JobAdX.
Happy Halloween, it’s The Shred for October 31, 2018, brought to you by Judge.com. Guys, blockchain is all the rage right now. And if you’re like most of us, the whole thing is confusing, right? Don’t worry. Chad and I have been working with Judge to give you the foremost insight into what blockchain is […]
When you want to talk recruitment tech you need to call upon one of the very few BAD ASS RPO tech overloads around the globe. So that’s exactly what Chad & Cheese did… Adam Godson is High Commander of Tech Solutions at Cielo – that’s what I call him – where they have 150,000 hires per year […]