Our weekly roundup of deals, product announcements and other HR technology news.
beqom released beqom Performance Pro, a suite of AI-powered features designed to enhance performance by supporting intelligent goal-setting, guided feedback and data-driven performance reviews. The solutions include Goal Genius, a product that uses generative AI to help employees set meaningful, individualized goals that align with company objectives by using contextual data within the beqom Continuous Performance Management solution.
U.S. employers said job openings in July stood at a seasonally adjusted 8.8 million, a decline of 338,000 from June. Although that was the lowest level since March 2021, The Wall Street Journal noted it was still well above pre-pandemic levels and the 5.8 million unemployed people in July.
Gem Software and Rippling announced an integration between their products. Rippling’s ATS, Recruiting, and Gem’s CRM will use data and automation to better engage talent, develop candidate pipelines, and connect and automate the complete hiring process.
RChilli launched RCR, or RChilli Candidate Recharge, which the company positions as a new way of reprocessing candidate data in an ATS. RCR is intended to address challenges with data migration including inconsistencies and inaccuracies in candidate information. RCR updates candidate data including contact details, employment history, job titles, educational background and current employer.
The applicant tracking system market size is expected to increase by $745 million from 2022 to 2027, a CAGR of 5.69%. According to Technavio, the growth stems from the increasing adoption of cloud-based ATS’s and the digital transformation of HR departments within organizations. However, the market is experiencing challenges including the ability to assess the long-term quality of applicants and the limited breadth of search scope because of key word searches, the company said.
HR tech startup Confirm announced a $6.2 million Series A investment round, bringing its total investment to $11.4 million. The round was led by Spero Ventures with participation from SHRMLabs, Elefund, Gaingels, Black Angel Group and some existing customers.
SmartRecruiters appointed Rebecca Carr as its new chief product officer. Carr rejoins SmartRecruiters from Checkr, where she served as vice president of Checkr Pay.
Last Week’s Top News
Employees Want To Stay at Their Jobs, Study Finds
Fifty-seven percent of employees want to stay at their current jobs, according to a recent study from HireClix. However, the survey showed that when workers do want to leave, it’s in hopes of better pay, work-life balance or more enjoyable work. Read More.
AI’s Hot, But HR Tech Funding Falls To 3-Year Low
Venture funding in HR technology startups has fallen to less than $3.3 billion over the last four quarters. It’s a notable change since 2021, when venture funding in the HR space skyrocketed to $10.5 billion through more than 800 deals, according to Crunchbase data. Between 2022’s second and third quarters, funding to VC-backed HR tech startups dropped by $2.7 billion, from $3.6 billion to less than $1 billion. Read More.
Oyster Adds Chatbot to Aid in Hiring, Compliance
Oyster launched an AI-powered chatbot designed to answer questions about global hiring and remote-work regulations. Called Pearl, the feature is designed to help companies gather information that can help them make informed decisions on issues related to global employment. Read More.
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