Recruiter.com Group, Inc. (NASDAQ:RCRT)(NASDAQ:RCRTW) ("Recruiter.com"), a leader in on-demand recruiting solutions, today announced it has launched Amplify, an artificial intelligence ("AI") powered solution for proactive candidate outreach. Amplify leverages Recruiter.com AI software to search and market to passive candidates, transforming job posting into an active talent identification and engagement process.
"As we discussed on CNBC last week, the job market is very much tilted in the workers' favor," said Evan Sohn, CEO of Recruiter.com. "We recognized months ago that for businesses to attract talent, they must change their recruiting efforts into a more creative and proactive approach. Amplify actively campaigns job posts to a massive audience of potential talent profiles to get the candidates interested and engaged."
Talent acquisition is increasingly leveraging AI in its recruiting efforts, bringing scale to manual processes. In its AI in Recruitment Market report, IndustryArc predicts that the AI recruiting market will grow at a CAGR of 6.76% during 2020-2025, up from $580M in 2019. Growing demand from a tight job market and strong demand for specialized talent may further advance the utilization of technological methods for candidate outreach.
"We believe that AI adoption in the recruiting process will continue to accelerate, as companies realize the benefits of a higher scale of proactive candidate outreach," said Xuan Smith, CTO of Recruiter.com. "Recruiter.com's vision is that recruiting is fundamentally a very human process, you have to talk to people to both assess their skills and sell them on the company's mission. However, with a tight job market and the potential for a further trend of increased churn and higher resignations, companies are asking how they can talk to more people, and the types of people who may not be actively applying to their jobs. Recruiter.com's new Amplify product should help employers reach out at scale to millions of people, transforming a simple job post into a sophisticated recruitment marketing campaign."
Amplify productizes proprietary technology from two recent corporate acquisitions: the AI software of Upsider and the job posting technology of Uncubed. The Amplify product is initially marketed to the $1.7B media industry and is today available for purchase for employers specifically looking to hire media and creative talent, with future targeted market segments planned.
As Kathryn Dill highlighted in the Wall Street Journal, the number of unemployed job seekers per job opening is falling, while employers have been relying on increasing levels of automation that can tend to screen people out of the process. With recruiting solutions that leverage technology as well as on-demand professional recruiting services, Recruiter.com can help employers realize the benefits of scale while augmenting their talent acquisition process with the human insights of professional recruiters. Learn more about Recruiter.com's recruiting solutions for employers at https://www.recruiter.com/employers.html.
About Recruiter.com Group, Inc.
Recruiter.com is an online hiring platform delivering on-demand recruiting technology and services to both large and small businesses. With AI and video technology, and the world's largest network of recruiters, Recruiter.com delivers on-tap recruiting that flexes with hiring needs. To learn more, visit https://www.recruiter.com.
For investor information, visit https://investors.recruiter.com
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Recruiter.com Group, Inc.
RedChip Companies, Inc.
Phone: (407) 491-4498
Cautionary Note Regarding Forward-Looking Statements:
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The words "forecasts" "believe," "may," "estimate," "continue," "anticipate," "intend," "should," "plan," "could," "target," "potential," "is likely," "will," "expect" and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements primarily on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy, and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include continued demand for professional hiring, the accuracy of the Recruiter Index® survey, the impact of the COVID-19 pandemic on the job market and the economy as virus levels are again rising in many states, and the Risk Factors contained within our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2020. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statements, whether as a result of new information, future developments or otherwise, except as may be required by law.
SOURCE: Recruiter.com Group, Inc.