The recruiting workflow involves an array of niche technologies. According to the 2021 recruitment tech report by Findem, 69% of organisations currently juggle five or more technologies to get their work done. Only 31% have reportedly streamlined their operations to require four or fewer, and about 25% uses 10 or more tools. Growing tech stacks have become the norm for recruiting practices.
According to Findem’s report, a whopping 95% of organisations want to automate more of the sourcing process.
Those tech stacks have been sourcing heavy. According to Findem’s report, a whopping 95% of organisations want to automate more of the sourcing process. hireEZ (formerly known as Hiretual), SeekOut and HiringSolved have all gone all-in on their own respective AI-powered sourcing niche. And they’re hot among investors. Within approximately 18 days in the early going of 2022, hireEZ and Seekout closed their respective investment rounds of $26 million and $115 million.
AI-powered in their own way
From the outside looking in, whenever ‘AI-powered’ is used in mission statements, it enhances the idea that there’s going to be an algorithm doing the hard sourcing. And, that the core product is essentially the same. In this instance, hireEZ and Seekout and HiringSolved clearly belong to the AI-powered spectrum, but there are some differences.
With the new money raised, Seekout announced they will move in the direction of a 360-degree platform for enterprise talent optimisation. hireEZ, meanwhile, will double down on outbound recruiting as their primary USP. There’s also HiringSolved, which aims to turn recruiters into talent advisors by unifying your disjointed databases and convert volumes of data into actionable insights.
“I think that they’re all forced to look at their businesses and say: we can’t just survive on people search and people finder.”
“When you talk to recruiters, the differences are there”, said Joel Cheesman on an episode of the Chad and Cheese show. “But as we look at what I would say would be like the OG’s of the sourcing technology business, they’re all pivoting into different areas. I think that they’re all forced to look at their businesses and say: we can’t just survive on people search and people finder.”
hireEZ: focused on outbound
hireEZ is primarily an outbound recruiting platform that gives recruiters access to untapped talent pools, scalable candidate engagement automation and integrations with leading ATS and CRM platforms. With tight labour markets all over the world, the company has emphasised the necessary shift to outbound recruiting. hireEZ reportedly has access to 750M+ candidates from 45+ open web platforms.
Scalability, therefore, is one of the primary reasons an organisation would opt for hireEZ’s solution. “From my perspective, it’s sort of like a HubSpot for recruiting”, said Joel Cheesman on an episode of the Chad and Cheese show. “It’s like they want to be the outbound marketing arm slash recruiting arm for a business.”
Its range of services: AI sourcing, Diversity, Equity & Inclusion (DEI), Talent Maps, ATS Rediscovery, Chrome Extension, Boolean Builder.
SeekOut: 360-degree solution
SeekOut, meanwhile, will aim to serve as a 360-degree solution that helps find, grow, and retain a diverse, skilled organisation. Their solutions are threefold, spread across the search, optimisation and analytics. “For SeekOut, the goal is to become a rule the world, cradle-to-grave-type platform”, said Cheesman.
Its range of services: Candidate Profiles, AI matching, Diversity Hiring, Cleared Candidates, ATS Rediscovery, Inbound Talent, Candidate Engagement, Internal Talent, Career Hub and Analytics.
HiringSolved: internal search
HiringSolved automates the most time-consuming parts of the recruiting process to simplify the hiring journey. And give recruiting teams the knowledge they need to become Talent Advisors. No matter the recruiting goal (skills-based, high-volume or diversity), the service looks to unify all pieces of data (ATS, CRM, HRIS) into one, integrated service.
Their platform aims to serve recruiting and talent acquisition needs of all varieties. From TA management to RPO processes. From HR leadership to staffing. “With HiringSolved, the pivot was more like we’re going to do internal search for you better than anybody else”, said Cheesman.
Its range of services: Unified data, Automated Applicant Matching, Analytics, Diversity Prediction, Transparent Scoring, Automated Pipelines, Automate TA Workflows.