Recruiter.com Group, Inc. (NASDAQ:RCRT) CEO Evan Sohn discusses the launch of Amplify, an artificial intelligence ("AI") powered recruiting software solution for candidate outreach. Sohn says Amplify uses Recruiter.com AI software to search and market to passive candidates, transforming job posting into an active talent identification and engagement 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.
Below is the full (uncorrected) transcript of the interview:
Speaker 2 (Christine):
Hello and welcome back to Proactive New York. Joining me this morning is Evan Sohn, CEO of Recruiter.com group Evan. Good to see you again. How are you?
Speaker 3 (Evan):
Good to see you too, Christine. Doing great. Thank you.
That's good to hear Evan, as you've recently said, it's a candidates market right now is there is a glut of jobs and not enough candidates this week. Recruiter launched an artificial intelligence-powered solution to try and solve this. So tell us more about that.
Thanks, Christine. The product is called Amplify. That's what we called it, and it really combines our AI so software, which is really searching and engaging across the entire internet for qualified candidates varying different levels. We have diversity flags, all these other things. It's just a phenomenal, phenomenal tool. And we'll combine that with the Mediabistro job board. We bought in July a company called Parrot which owns Mediabistro. Mediabistro is the leading let's call it niche job board for the ad and media space. So companies like Omnicom, NBC Fox, Cox, Cox broadcasting, all use Mediabistro jury to find their talents. So content managers, but technical people, everything associated with digital content, but finding candidates is hard now. It's just harder to do. It's harder to get to, and we've been reporting this on the Recruiter Index monthly that the number of applicants to jobs are down.
So despite the fact that there's mass unemployment, the number of applicants applying to jobs is actually down. So you've got to get more creative and we started talking a couple months ago about how are you going to get more creative and certainly post labor day. And so we really planned for this to be really after labor. We didn't know really the state of the job market as tight as it would actually be. And that's really what amplified does. It takes a job, a job post your typical traditional job board posts that you would do on Mediabistro and amplifies it using both on-demand recruiters and our software to really go and take that job post you know, across the entire internet to go find candidates that would be appropriate for that actual job post ad proactively reaches out to them and gets them engaged to actually apply to that job post sitting around is not enough anymore. Simply posting up a job and waiting is not enough. And I think waiting for advertisements or wherever else, you're going to find those candidates is also not enough. You've literally got to email them and campaign to them as if you were marketing to them a great product or great service. And that's really what Amplify does.
So the software knows which candidates are passive, and then it just kind of proactively emails them. That's how it works.
It's actually, it's really, really cool. The first project process is really to find, not to build the list of people that would be appropriate. So I'm looking for people with this qualification, this diversity, this geographic location, et cetera. It actually builds let's call that the total addressable market. It really builds that list of these people, and then starts to email them at doing what's called AB testing. So you could try different subject lines out to get these individuals, to get them, to raise their hand and raise their hand. That's our kind of term for, Hey, I'm interested in that job and then get them to apply to that job. And so it's a, it's a really excellent tool, and we're really excited to really marry together the software that we acquired earlier this year and have evolved, and our job board technology with Mediabistro, and really being able to really help companies large and small recruit talent faster using our technology and on-demand services.
What kind of volume of candidate base you have in both Mediabistro and Recruiter.com?
Yeah. So it's a great question, you know so it's, it's an old school question, so sorry, Christine, you know, like what's the size of your Rolodex, what's the size of your database? That's really, it's great to that. We still talk about those things. So MediaBistro is probably has about a million candidates in its database. OneWire, which is our financial services job board probably has about 250,000 candidates in their database. Something maybe more than that now. And we have a few others but our software actually goes across the entire internet. So we have over, you know, the 150 plus million people and all these other databases and lots and lots of data sources, you know, not too long ago, it was hard to find people finding them is not the hard part now getting them engaged.
That's the hard part, you know, you think about, you know, how does someone market to you as an individual. I got to get to you where you are, you know, what, whatever you're reading, that's how I market to you. I know who you are. I know your patterns that I know, well, these other things, and I have to actually market to you to get, to get my message across to you. And that's a, that's really what our AI software does. So using AI, our artificial intelligence lets us identify like people. So Hey, here are the qualifications that I want, but use AI to go get me people that are similar to those people. And we're doing a lot of coding up of different AI tools to really find our right people et cetera. And then using our email capabilities, that's also built in to the tool to actually campaign to them. So we have, you know w so broad numbers, it's probably a billion records that we have access to. It's, it's, it's a, it's a very serious number, but again, you know, if no one's applying that doesn't really get you anywhere. So it's really being able to amplify that job, to get candidates, to apply to that job. And that's really what we're doing with Amplify.
And, and you'd want to sell this service to employers. Have you been receiving any interest?
Yeah, we just launched it. Yeah. We just launched it officially yesterday. We've been using it and trialing it internally with clients and it's, it's a great tool and we're going to be marketing and promoting it, and then using it across the rest of our job boards. So we have a job board now. So you're going to see from us re relaunching out our financial services, job board where we announced we're going to have a recruiter job board. We'll talk about that playing out in a couple of weeks but really very exciting times for us to be able to combine together, you know, our job board technology, Amplify to really find the candidates and then using recruiters to really engage those, those candidates. Once they've actually raised their hand, that they're interested in actually that job itself, it's all coming together.
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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