New Job-Matching Algorithm Helps Employers Discover Talent Whose Skills and Desires are an Exact Fit for the Job
NY, NY (PRWEB) May 10, 2016
TechCrunch Disrupt New York Conference - Woo (woo.io), the first platform that lets tech talent gauge their market value, today announced the rollout of a revolutionary matching algorithm that auto-matches tech talent with job requisitions based upon both skills and the candidate’s real desires. This data-driven approach is transforming employer recruiting - leading to 80% relevant matches, compared to the single digit rates companies have grown accustomed to.
According to a 2015 CareerBuilder survey, nearly half (48 percent) of CEOs reported that their companies have lost money because their recruitment process is inefficient, and 60 percent say the inability to find enough qualified candidates is preventing the company from reaching their full potential.
“Companies today are spending an inordinate amount of time chasing candidates that are a good match on paper, but whose experience doesn’t reveal a big part of the equation - their true career desires,” said Liran Kotzer, co-founder & CEO of Woo. “Woo’s matching technology uniquely calculates what an individual wants in a job, helping employers find that ‘needle in the haystack’ - candidates with both the required skill-set and desires that are likely to be fulfilled by that employer. This makes for a much more efficient recruiting process, where employers only approach candidates who are an excellent match, and that will likely entertain and accept their offer.”
Woo’s solution consists of an innovative two-layer matching algorithm which takes into account experience and desires, then calculates the potential match of candidates with the position. The platform looks at both listed skills and inferred skills - the latter of which are gathered from its machine-learning. Candidate desires include an individual’s expectations for relocation, promotion opportunities, preferred technologies to work on, salary, the ability to work from home, and requested type and size of company. The result of this unique algorithm is powerful and efficient matching that saves significant time and effort for both tech workers and employers.
Woo technologists spent more than a year designing and testing the company’s matching algorithm, working hand-in-hand with top recruiters looking to attract in-demand, passive tech talent. Woo used machine learning techniques to train the platform to mimic human behavior: it recorded the manual candidate filtering process done by former recruiters from Tesla, Google, Facebook and PayPal. Woo then fed the results to the machine, which learned quickly. The early results have been impressive: the platform is now fully automated for both talent and tech companies, with its matching-rate eight times higher than industry norms.
“As a veteran silicon valley talent leader, the challenges that my team faces include spending time sourcing passive candidate profiles that are current and relative,” said Tim Wenzel, principal of the (A)Lyst Group, and former HR exec with Tesla Motors and PayPal. “Using a custom algorithm to source and match candidate profiles to companies, Woo is a talent productivity tool that no recruiter or early stage company should go without. It eliminates the unrequited pursuit of passive candidates and makes the process more productive for everyone, yielding a better fit for both the candidate and the company.”
Since Woo’s U.S. launch in February, the company has signed on more than 100 companies, with 200 on its wait-list, and 7,000 tech professionals, mostly software engineers, product managers, QAs, DevOps and designers to its invite-only service. With the launch of its auto-matching technology, Woo can now grow the number of employers and techies it serves as it looks to expand beyond the San Francisco Bay Area to other key technology-focused regional markets across the U.S.
Privately-held, Woo operates out of San Francisco and Tel Aviv. Its namesake platform, Woo, lets tech talent effortlessly learn their real demand and market value, while remaining fully anonymized. Unlike existing solutions, Woo focuses on helping tech talent know their true potential, regardless of whether they want to change their job or not. The company works with leading-edge tech brands, including Microsoft, Adobe, Yahoo!, WeWork, Quora, AutoDesk and more.
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