June 8, 2018 – ENGAGE Talent, an AI software company that helps companies identify and effectively engage with passive candidates, has announced a partnership with HonorVet Technologies, a technology-driven talent search staffing firm that is working to eliminate the high underemployment rate affecting military veterans.
Forty-three percent of veterans leave their first civilian job within their first year, and 80 percent depart before the end of their second year, citing a lack of opportunity for career advancement and personal development, according to a Syracuse University survey.
“Our science identifies misalignment between people, roles and companies in dynamic markets,” said Joseph Hanna, ENGAGE Talent CEO. “This misalignment is especially common in veterans returning to the workforce. We are excited to work with HonorVet to help fix this problem, and to help returning veterans increase their job satisfaction and productivity.”
A Powerful Solution
Asheesh Mahajan, chief operating officer for HonorVet, said that many recruiters lack experience in placing veterans in civilian workplaces. “As a consequence, many veterans find themselves going to the Department of Veteran Affairs and other so-called ‘soft landing-pads,’ including police, firefighting and defense contractor roles,” he said. “These areas provide job opportunities, but are often not ideal roles for these veterans.”
HonorVet, a certified service disabled veteran owned small business, is in a unique position to understand the issues affecting veterans daily as they return to the workforce. The combination of HonorVet’s recruiting expertise combined with ENGAGE’s AI-powered sourcing engine is expected to provide a powerful answer to the misalignment issues affecting thousands of returning veterans, said ENGAGE Talent.
ENGAGE Talent Identifies Top Employee Tenure Trends
An already tight labor market has likely only continued to tighten over the past 18 months, an analysis of ENGAGE Talent tenure data shows. The study covered 50 million US workers and professionals, concluded that the current median job tenure is 3.67 years.
ENGAGE Talent describes itself as the world’s first AI-powered platform to combine talent mapping, competitive intelligence, passive candidate sourcing and outbound recruiting in one talent targeting and engagement engine.
The company’s platform enables active recruiters to efficiently source from a live stream of over 100 million passive candidates or enrich their own CRM and ATS candidates with predictive, AI based insights, the firm said. It continuously monitors candidates and alerts companies with predictive availability signals when a candidate seems ready for a new opportunity.
Recruiters who leverage ENGAGE’s predictive analytics are able to more than double their candidate engagement rates, said the firm.
HonorVet is a boutique IT services and technology company. It provides advanced recruitment solutions through a combination of predictive analysis, artificial intelligence, processes and methodologies to support the firm’s “high touch” expertise.
Finding Best-Fit Opportunities
“HonorVet’s purpose is to lower the underemployment rate in the veteran community by providing them with best-fit opportunities in civilian workplaces,” said ENGAGE Talent. “These tools and processes are already successful in the placement of traditional non-veteran candidates.”
The organization partners with a wide range of companies, ranging in size from small business to Fortune 500 firms to help them attract, select and retain quality talent.
ENGAGE Talent solves a relatively difficult AI challenge: predicting people’s job security and likelihood to change jobs based on their professional background, career progression and events impacting their companies and industries.
Five Million Data Points
Recruiters use ENGAGE Talent to conduct market research, identify talent pools to target, and build a pipeline of passive candidates who are more likely to engage in a job change discussion. The platform processes over five million data points on a daily basis and uses validated AI models to assess companies talent risk and people’s likelihood to change jobs.
Earlier this year, ENGAGE Talent announced that it had raised millions in new funding. Participating investors included Revolution’s Rise of the Rest Seed Fund, Refinery Ventures and Grand Ventures.
“While we’re proud of what we’ve accomplished, we’re eager to use this new funding to accelerate our progress in enhancing and refining our AI recruiting technology,” said Mr. Hanna.
The company intends to use the new funds to further develop its predictive recruiting technologies and to expand its science/R&D and success teams.
“ENGAGE is a great example of the type of company we are looking to invest in –it’s in an emerging ecosystem and using innovative technology to solve a pressing, real-world problem,” said JD Vance, managing partner of Rise of the Rest. “Its technology has tremendous potential for helping employers recruit and hire more successfully.”
ENGAGE has announced a number of innovations over the last year, including ENGAGE ME!, a groundbreaking recruiting marketing engine that the company introduced last fall. The platform not only automatically identifies the best candidates to target based on a recruiter’s specifications, but also the most effective ways to nurture them.
“ENGAGE ME! makes passive candidate recruiting smarter, faster and more effective,” said Mr. Hanna. “Recruiters today spend a tremendous amount of time in sourcing candidates. They no longer have to. ENGAGE ME! automatically identifies the best candidates to target and the best way to nurture them to join your organization.”
Contributed by Scott A. Scanlon, Editor-in-Chief; Dale M. Zupsansky, Managing Editor; Stephen Sawicki, Managing Editor; and Andrew W. Mitchell, Managing Editor – Hunt Scanlon Media