Record low unemployment. Record high rates of job switching. Increasing shortages of critical talent. However you look at it, the marketplace for talent is hot in the United States and many other places across the world.
So it’s no accident that Eightfold has been named one of the 2018 “Hot 100” best privately-held software companies by JMP Securities. This list features the most promising software businesses based on financial growth, products and services, quality of leadership, customers, and market potential, among other criteria.
We’re excited to be a part of this exclusive list. Here are our three top reasons why Talent Intelligence is so hot in 2018:
- A Talent Intelligence Platform helps find and retain staff.Business leaders know that attracting top talent is critical to staying competitive. A Talent Intelligence Platformlike Eightfold provides businesses with remarkable new powers to find and hire this talent. Eightfold customers see results such as 7x greater candidate response rates compared to InMail, 80% faster time-to-interview, and 5x better matching of candidates to jobs一all of which contribute to getting the right person in the door now. But the best talent strategy is often to keep the people you have. A Talent Intelligence Platform, unlike a simple sourcing app, enables companies to match their current staff with opportunities for transfer, promotion, and new skills. Eightfold customers have seen a 25% drop in unwanted attrition.
- A Talent Intelligence Platform unlocks the promise of AI. We’ve all heard about artificial intelligence and machine learning for years, but most companies haven’t been able to turn raw technology into business value. A Talent Intelligence Platform embeds AI into a company’s talent management process in the right way. This AI-driven Platform will empower一not replace一HR and recruiting staff, and will observe the 5 commandments of AI/ML design.
- A Talent Intelligence Platform supports inclusion initiatives. Diversity and inclusion are critically important, yet after years of focus on D&I, CEOs are seeing very little movement on the metrics that matter. The challenge is that there have been virtually no effective tools for companies to use. A Talent Intelligence Platform, for the first time, overcomes this challenge by enabling recruiting teams to understand the diversity profiles of their talent pools, so they can ensure that diverse candidates are considered for every job opening. Just as importantly, these Platforms can mask personally identifiable information from hiring managers to prevent bias in interview decisions.
HR and recruiting teams are feeling the heat, and they’re turning to Talent Intelligence Platforms in this record-breaking year. We’re thankful that JMP Securities has taken notice.