This week: D&I solutions are a $100 million business, HireVue sets up an ethics advisory board for AI development, HR pros say their analytics skills are just fine, thank you, and Chad… Well, let’s not go there.
Welcome to another HCM Technology Report’s Weekly Round-up via PODCAST… It’s HR Tech, a blast of Rock N Roll and the not safe for work twist of The Chad & Cheese – HR’s Most Dangerous Podcast – I’m Chad Sowash – yes that Chad… the Chad who drives the editors to drink. Well, to be fair that doesn’t take much. At least in Mark Feffer’s case. Really. Have you ever seen him in Vegas? Not a pretty sight.
Mark – Look at me I’m Chad…
(Laughing) Anyway, it’s time for this week’s top news in HR tech.
Diversity’s big business. A new report says D&I solutions are a 100-million-dollar market. It’s also a promising place for startups. Most of its vendors are less than four years old and have fewer than fifty heads to count.
The biggest chunk of these companies is working on talent acquisition products, and business is good. Last year, a quarter of them increased their revenues by at least 100 percent.
But before you go thinking this is a gold rush, remember: Every business leader and their mother say diversity is “the right thing to do.” How many of them back that up with real money or resources? Not many. But since more people see a direct link between diversity and business results, more people think that could change. I’ll believe it when I see it and the only thing that will move the needle is actual hiring outcomes. So, stop the warm and fuzzy “we care” bullshit people and execute!
Now, if you’re serious about diversity, equity and inclusion check out Crazy and The King it’s a real-world podcast that takes these issues head on. That’s Crazy and The King wherever you listen to podcasts. (Plug complete)
Now let’s talk ethics. HireVue’s set up an advisory board to make sure its AI development stays on the right side of the fence. It’ll also advise the company on things like “algorithmic bias.” That’s a phrase you don’t hear very often, although Feffer says data scientists have been whispering those algo bias sweet nothings into his ear for four or five years now. That’s sweet Mark.
Mark: I didn’t write that!
Next up: More than half the HR pros Oracle surveyed said they’re perfectly capable of using prescriptive and predictive analytics. Their problem: Their executives and Finance departments don’t believe them. And guess what – I sure the fuck don’t believe them either.
HR and Finance haven’t ever really claimed to be BFFs and probably never will be. But no one argues they should work more closely. Except for finance, they’re still pissed you didn’t use the new cover sheet on those TPS reports.
Finally: Hired.com bought Py, which builds assessment and screening tools for engineers. Hired says new products will result. The first, called Hired Assessments, offers online coding quizzes and a “live code” environment. Another helps companies show off benefits before interviews start. That’s what I call recruitment marketing, baby.
That’s it for this week. Stay on top of the tech employers use to recruit and manage their workforce. Visit HCMTechReport.com. Unbiased, written by real reporters and only about the HR tech industry. That’s HCMTechReport.com. Mark it’s 2019 you don’t need the www anymore.
And if you’re a fan of HR & Recruiting technology, snark and a no-bullshit opinion then subscribe to The Chad & Cheese – HR’s Most Dangerous Podcast at ChadCheese.com… or where ever you listen to podcasts.
Oh yea, Mark wants me to say that HCMTechReport.com isn’t snarky or mean like Chad & Cheese. It’s a nice web site with real reporters and shit.
Mark: Such an asshole
Editor’s Note: Chad’s opinions are his own and he’s taking liberties with our script. That said, if you have news to share, send a press release or email to our editors at news@ hcmtechnologyreport.com.
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