How programmatic is enabling recruiters to make visible impacts on their company

Recently, Uncommon got together with Greenhouse and Susanna Frazier, Head of Strategic Sourcing, Talent Acquisition at Universal Music Group, to discuss how programmatic is shaping the future of recruiting.

Listen for expert tips on how to:
  • Increase your pipeline with interested and qualified applicants
  • Decrease your spend on advertising open positions
  • Reduce time wasted on reviewing unqualified candidates

Why it’s so hard to hire and get hired

There’s a single number that sums up all of the difficulty that candidates and recruiters face in the job search process: 250. Why is this number so significant? It’s the average number of applicants per job. And it’s growing. Only five years ago, it was less than half that number.

This number has skyrocketed in recent years because applying for a job online has never been easier. In fact, in many cases it’s as simple as the click of a button.

But the simplicity of the online application process masks the complexity of hiring. Let’s look at some of the ways that a large number of candidates can be problematic.

It’s bad for the candidate

Anyone who’s applied for a job online has felt this pain. It feels impossible to cut through the noise and stand out among hundreds of candidates. Job seekers have learned that they can’t expect a call or email, they can’t expect an opportunity to express their interests and qualifications, and they definitely can’t expect feedback of any kind. Three out of four candidates never hear back after submitting an application.

It’s bad for recruiters

When you look at what’s expected of recruiters, it’s not hard to see why they have such a hard time following up with candidates. In-house recruiters are often responsible for 20 or more open positions. So if we consider that each of those roles has an average of 250 applicants, we can quickly calculate that they need to examine thousands of applicants at any given time. And since 98% of job seekers are eliminated in the résumé-screening phase, that’s a lot of work upfront for very few candidates to move on to the next stage. This creates a process that’s time-consuming and emotionally draining—not to mention wasteful. Plus, building a talent pipeline is expensive since you need to pay for every candidate, whether they’re qualified or not.

You get what you pay for

There’s one reason for this market failure: Interests are not aligned. In order to attract a wide array of applicants, companies use multiple vendors to list their job openings: job boards, search engines, and social networks. Through these mediums, pricing is usually on a cost-per-click (CPC) basis. The problem? When you pay for clicks, you get clicks. Large quantities of them! But not qualified candidates.

We are here to help

Here at Uncommon, we see a simple way to solve this problem. By connecting recruiters with only qualified applicants, we’re setting both groups up for success. Candidates get the chance to shine and get fast-tracked through the initial screening process. In fact, 65% of our qualified candidates are contacted by recruiters (compared to the 2% industry average).

We are here to make every recruiter a hero. Recruiters are the gatekeepers of quality, culture, and diversity. They are responsible for building their companies, and for that reason they need the best tools. We are here to make recruiting what it is meant to be: an impactful role that is rewarding and exciting, focused on people and opportunities.
We are here to empower companies and people to grow.

Try us out for yourself at uncommon.co.

Finally, A Better Way to Connect Jobs With Talent

Teg Grenager_launch

When you think about it, the recruiting industry hasn’t really changed much in the past 100 years. Employers write job descriptions and pay to advertise them. Job seekers read job posts on job boards, decide if they are qualified, and apply. Then the employers have to read through all the resumes and make subjective decisions about who to talk to.

It works, but it’s badly in need of an upgrade. Job seekers end up applying for jobs they’re not qualified for, recruiters waste lots of their precious time and money reviewing unqualified applicants, and the process lacks objectivity. Having personally felt the pain on both sides of this dysfunctional equation, we got to thinking: there’s got to be a better way.

That’s why today we’re launching Uncommon IQ, the industry’s first qualification-based talent marketplace. Uncommon IQ fundamentally changes the way that employers find talent and people find jobs, and paves the way for a much-needed industry transformation that will bring efficiency and objectivity to all parties. Here’s how it works: with Uncommon IQ, job seekers see which jobs they are already qualified for, and apply to them with confidence. And employers get access to a stream of 100% qualified applicants for their position, guaranteed. This saves recruiters a lot of time, and – since they pay only for qualified applicants with the industry’s first Cost per Interested and Qualified (CPIQ) pricing model – it also saves them a lot of money!

We’ve spent the last year working hard to build Uncommon IQ because we want to bring efficiency and fairness to the recruiting process. And the response from our beta customers has been extraordinary – this is clearly the programmatic platform that the industry has been waiting for! That’s why today we’re delighted to put it in your hands, and finally give the recruiting industry the upgrade that it so badly needs – and deserves.

Happy hiring!

Teg Grenager, CEO

Uncommon.co Launches Recruiting Industry’s First Qualification-Based Talent Marketplace

Founded by entrepreneurial pioneers of data and automation with over $1B in exits, Uncommon.co comes out of beta with $18M in funding, and is already trusted to help find talent for Gap, Aflac, and Lyft

PALO ALTO, Calif. (Feb. 15, 2018) – Today, Uncommon.co announces Uncommon IQ, the industry’s first qualification-based talent marketplace that connects job seekers, employers, and job sites in a fully-automated, transparent and objective way.

Using a proprietary AI algorithm to analyze career paths, experience, skill level and job interest, Uncommon IQ gives recruiters on-demand access to applicants that meet or exceed every job requirement and are ready to be interviewed, eliminating the costly and manual inefficiencies of traditional sourcing.

Check out a video of how easy it is to use Uncommon IQ here.

Uncommon IQ also puts job seekers on the fast track to employment by allowing them to apply with confidence for jobs for which they know they are qualified. Uncommon.co candidates are 12 times more likely to be invited to an interview as they appear in a short list of pre-qualified candidates. For job sites who service both job seekers and employers, this enables them to provide a better experience and maximize revenue.

For decades, the recruiting industry has been operating in the dark with no easy or effective way of connecting the right candidates to the right job positions. With the growth in online job boards and marketing sites, job seekers can easily apply to dozens of positions with a single click, but rarely hear anything back about their application. Employers blindly pay the outdated Cost Per Click (CPC) fee for every submission, then spend hours screening hundreds of resumes only to find a few that are actually qualified and interested in the job position.

“When I was hiring for my previous companies, I was stunned at how finding talent was based on a ‘needle in a haystack’ approach,” said Teg Grenager, CEO of Uncommon.co. “Now, we’re creating what I wish I had then: a simple and effective way to connect with only qualified applicants who are ready to be interviewed, allowing recruiters to spend less time sourcing and more time hiring great talent.”

Using AI technology trained on over 50 million career paths, Uncommon IQ analyzes applicant resumes for hard skills, like expertise in data science or kinesiology, by looking for factors like degrees attained or years in a role; soft skills, like creativity and entrepreneurship, are found by extrapolating skills necessary for success in past jobs.

With Uncommon IQ’s first-of-its-kind Cost Per Interested & Qualified (CPIQ) pricing model, customers are only charged when a fully qualified candidate applies for a specified open position, and can even challenge irrelevant resumes for an immediate refund.

“My recruiting efforts typically consisted of posting positions on various job sites and then sifting through hundreds of applicants — with most of them being unqualified,” said beta customer Galia Schwarz, VP Business Development at Resonai. “With Uncommon.co, I am able to post my position in one place and know that they will take care of all the sourcing and screening for me. It’s centralized and easy to use!”

“Uncommon’s technology is unleashing a much-needed transformation in the job market.” explained Amir Ashkenazi, Founder, President and Chairman of Uncommon.co. “The job market has not changed much since the classified ads era — basically a black box for those on both sides of the hiring equation. At Uncommon.co, we’re using best-in-class technology to fix the unfair, broken recruiting system and empower job seekers to find meaningful opportunities suited to their skill sets, while helping employers level the playing field for applicants and find the best talent. It’s a win-win.”

The company is also announcing $18 million in Series A funding from Canaan Partners, Spark Capital and Zeev Ventures. “Today’s recruitment system is broken—the process is slow and rife with bias and it’s stagnating growth for companies of all sizes, across industries,” said Santo Politi from Spark Capital. “That’s why I’m excited about what the team at Uncommon.co has created: a guaranteed solution for finding qualified talent on demand. They have created a system that will soon become the status quo and will disrupt the $428 billion global staffing industry.”

“I’ve known Amir for almost 20 years, since our days at Shopping.com and I worked with both Amir and Teg on their prior startup Adap.tv. Together, we all experienced directly just how awful the recruiting experience can be,” said Dan Ciporin, General Partner at Canaan. “I am thrilled to back Amir and Teg again with Uncommon, as they transform recruiting with a solution that finally gives companies only the candidates they want and gives job-seekers exactly the role they are looking for – at a company that wants to hire them.”

Uncommon.co is led by Amir Ashkenazi and Teg Grenager, veteran entrepreneurs with extensive experience creating market-ready B2B products that eliminate marketplace inefficiencies. The team previously worked together to start programmatic video advertising startup Adap.tv, acquired by AOL for $405 million, the company’s largest acquisition at the time. Ashkenazi also founded Shopping.com, which was acquired by eBay for $634 million.

About Uncommon.co:

Uncommon.co is on a mission to deliver life-changing opportunities by removing obstacles that stifle employment prospects, to help people and businesses grow. Founded in 2016 by Amir Ashkenazi, a serial entrepreneur with a combined $1B+ in exits, Uncommon IQ is the industry’s first qualification-based marketplace. Using a proprietary AI algorithm to analyze career paths, experience, skill level and job interest, Uncommon.co gives employers on-demand access to applicants that exceed every job requirement and ready to be interviewed.

Meet Team Uncommon!

 

Just as important as it is for us to know who you are and how you approach your hiring, we thought you might want to know about ours. The Uncommon team was built out of curiosity and collaboration. We laugh as hard as we work, and we take ownership of both our success and yours. We’re so excited to show you what we’ve been working on! Stay tuned…