TALENT MANAGEMENT, EMPLOYEE BENEFITS
Businesswire | May 23, 2023
Compa, the leader in offer management software, announced the launch of its newest offering, Compa Index, a compensation market data and offer intelligence product.
Unlike traditional compensation surveys, Compa Index connects offer data from your applicant tracking system (ATS) across its customer network, eliminating manual submissions and introducing new visibility into internal offer spend insights. By automatically matching accepted and rejected job offers, compensation data is leveled across participating companies.
Compa Index comes out of stealth after launching privately with 30+ enterprise technology companies including NVIDIA, Stripe, Instacart, Block, and Autodesk, making tens of thousands of offer insights available to new customers.
“Compensation leaders have been flying blind for over two years,” said Charlie Franklin, Co-founder & CEO of Compa. “Inflation, remote work, the great resignation, pay transparency – these system shocks have made legacy market data sources badly outdated. Add to that the sharp decline in tech industry valuations, and compensation teams are left struggling to set total rewards strategy effectively in a world that demands greater efficiency, accountability, and precision. Compensation leaders need better data. That’s why we built Compa Index.”
Compa Index launches its real-time market data as exclusively available for the technology industry, a sector rocked by spending cuts and layoffs after years of skyrocketing salaries for technical talent. Companies like DoorDash, Block, and MongoDB use Compa Index to gain better visibility into changing pay practices as market volatility continues.
“Many compensation leaders have been bitten by outdated data,” said Nick Klute, Senior Manager, Compensation at DoorDash. “In the tech sector, changes can happen rapidly, and if you’re not up to speed on these changes and expectations, your offers may fall flat. With real-time market data from Compa Index, these problems disappear into the ether, allowing you to make informed compensation decisions that are relevant to the current market.”
Compa Index introduces the first offers-based market data platform, including the following capabilities:
Offers-based Compensation Benchmarks – Offers are transaction data, like the housing market, representing uniquely pure signal about talent markets. Compa Index combines accepted and rejected offers across its customer network to provide a real-time benchmarking data source for salaries, bonuses, and even stock compensation.
Predictive Market Insights – Offers combine compensation data with meta information like market offer accept rates and offer volumes, providing users with predictive insights about where compensation is trending.
Job Matching and Leveling – Offer data contributing to Compa Index is matched to Compa’s standard career architecture, providing apples-to-apples market comparison by level and job family. Compa configures tenant offer data during the onboarding process by enriching offer data with details like stock vesting schedules and signing bonuses. Matches stay synced, eliminating the need for manual submissions.
Internal Offer Reporting – During the onboarding process, Compa structures and enriches your offer data before contributing it to the market data set. This process enables powerful dashboarding and reporting capabilities for internal spending patterns, overcoming limited capabilities inside the applicant tracking system (ATS) so compensation leaders can track offer activity in real-time.
High-Quality Global Data – Compa Index data comes from applicant tracking system (ATS) data from its customer network in a “give-to-get” model. Verified, system of record data contributes continuously and automatically following a rigorous quality inspection process. Because Compa connects to the ATS, data is available globally and automatically.
Industry-Leading Privacy & Security – Compa is SOC2 Type 2 and GDPR compliant, and securely handles offer data from leading global enterprises in the financial technology, aerospace, semiconductor, artificial intelligence, and e-commerce industries. Privacy rules are designed by compensation experts in collaboration with Compa’s customer advisory board with representation from companies like NVIDIA, Block, and Stripe.
Kathi Enderes, SVP Research and Global Industry Analyst at The Josh Bersin Company, a leading HR technology analyst, said, “Systems like Compa help give rewards professionals all the insights they need to execute on their rewards strategy to make it fair and equitable at the core. Without data and analytics that’s not possible.”
Compensation leaders at enterprise technology companies interested in learning more about Compa Index are encouraged to schedule a demo here.
In 2020, a trio of passionate compensation and tech professionals left Workday and Meta to found Compa with the belief that compensation should be fair and competitive for everyone. The company’s two main products are Compa Offers - software for enterprise talent acquisition teams to seamlessly automate offer workflows, and Compa Index - real-time market data and offer intelligence for enterprise compensation teams.
TALENT ACQUISITION, RECRUITMENT & RETENTION
Businesswire | May 22, 2023
Fourth, the leader in workforce and inventory management solutions to the restaurant, hotel, retail, and leisure industries, today announced an exclusive partnership with Doncaster, UK-based Automated Analytics to offer rapid recruitment via AI-powered programmatic bidding to US customers.
Integrating Fourth’s PeopleMatter® applicant tracking system (ATS) with Automated Analytics' TalentTrack AI-powered programmatic bidding, customers can optimize their ad targeting during high-traffic timeframes, lowering the cost per application. Beginning with Indeed, Fourth and Automated Analytics will roll out this capability with leading job boards nationwide.
"Current staffing shortages and the rising labor costs have made the competition to attract, engage, and employ talent critical to profitability in the hospitality industry,” said Clinton Anderson, CEO, Fourth. “Our partnership with Automated Analytics gives our customers the tools they need to beat the competition for talent.”
Using conversion data generated by tracking the source to hire of every candidate, TalentTrack’s AI programmatic model generates a higher volume of better-quality candidates. By optimizing advertisements for the most cost-effective bid times, TalentTrack ensures budgets are focused on attracting and quickly hiring quality applicants.
“Using the power of AI to help customers identify and secure talent quicker and more effectively is how employers can win the battle for hourly employees and reduce staff shortages,” said Mark Taylor, CEO, Automated Analytics. “We are excited to work with Fourth and look forward to helping our customers find the right talent, save money, and be ready to welcome their guests.”
Attending the 2023 National Restaurant Association Show May 20-23 in Chicago? Visit our booth to see a demonstration of AI-powered programmatic bidding and meet experts from Fourth and Automated Analytics.
When every hour of every shift matters, Fourth helps restaurants, retailers, and hotels conquer the day with data-driven workforce and inventory technology. The Fourth Intelligence Platform leverages more than 20 years of rich data and advanced analytics to deliver actionable insights and demand forecasting for optimizing operations, maximizing margins, and empowering employees. With a streamlined business powered by Fourth Intelligence, industry operators can act with certainty and conquer with confidence whatever comes their way every day. Headquartered in Austin, Texas, Fourth serves more than 15,000 customers across 100,000 locations globally. For more information, please visit fourth.com.
About Automated Analytics
Automated Analytics has developed its own artificial intelligence powered solution to solve the source-to-hire problem advertising online generates for recruitment professionals. Millions of companies advertise on Google, Bing, Facebook, Indeed, LinkedIn, Snagajob, and Zip Recruiter every day, but spend countless hours optimizing campaigns manually without really knowing what the true cost is. Automated Analytics’ solution for the recruitment industry, TalentTrack, solves this problem to generate a greater return on investment.
TALENT ACQUISITION, RECRUITMENT & RETENTION
Globenewswire | May 12, 2023
TruEra, which provides the first suite of AI Quality management solutions for managing model performance, explainability, and societal impact, announced today that Harver, the industry leading hiring solution helping organizations optimize their talent decisions, is implementing TruEra to help optimize the performance of Harver’s behavioral assessment solutions and ensure compliance with the imminent City of New York AI regulations for HR applications.
In late 2021, the City of New York passed new regulations seeking to reduce bias in AI algorithms used in hiring. Under these regulations, all employers who use automated tools in hiring will be required to undergo a “bias audit.” Employers using and software vendors providing such tools are required to evaluate their systems and demonstrate compliance before the regulations go into effect on July 5, 2023.
Harver uses TruEra’s AI model diagnostics, testing and monitoring to evaluate its behavioral assessment solutions for performance, robustness and model bias on an ongoing basis, including the bias metrics specified by regulators (such as the ones proposed by the New York City Department of Consumer and Worker Protection). TruEra’s software can also be used to identify the root causes behind any results indicating possible disparate treatment of groups, so that appropriate mitigating actions can be taken.
Harver – leader in soft skill assessments
Harver leverages soft skills-optimized AI technology in its behavioral assessments to help enterprise companies build diverse teams of top performers. Harver identifies the key behavioral indicators required to be successful in any given role. With these insights, customers can quickly and accurately map people to jobs in which they will thrive. Millions of job seekers around the world have taken Harver’s behavioral assessments, and the technology is live and compliant in 100+ countries. In August of 2022, Harver acquired pymetrics, inheriting its soft skills assessment platform and behavioral-based AI methodology.
“Enterprises are adopting AI solutions at a rapid pace. Some regulations in this space are necessary, to provide guardrails for responsible use,” said Harver Chief Data Science Officer (and pymetrics co-founder and CEO) Frida Polli. “We were looking for a solution to provide additional auditing capabilities to complement what we had already built in-house. In partnering with TruEra, Harver has deployed a comprehensive AI Quality solution that will optimize AI development while ensuring that the models are fair and responsible. We’re proud to be leading the way in leveraging AI model quality solutions in the HR management technology space.”
“AI brings tremendous benefits to HR and talent management when enterprises deploy it responsibly,” said Will Uppington, Co-founder and CEO of TruEra. “Harver has long been an innovator both in AI and in ensuring that AI is fair and audited. Both Harver and TruEra understand that in order to provide the highest quality ML models, data science teams need the tools to simultaneously and continuously test, monitor, and optimize the quality, performance, and bias of their ML models. We are excited to provide Harver’s expert data science team with the most advanced tools in the market for optimizing AI Quality.”
Harver has implemented the TruEra solution, using it to test and evaluate models relevant to their talent development offerings. TruEra’s fairness evaluation metrics will be key to ensuring that critical models are performing up to standards, and to ensure that they are ready for bias audits as required by the imminent NYC law.
TruEra addresses the next big challenge of AI – the quality challenge. TruEra’s solutions help ensure model quality by providing key model evaluation and performance analytics in the development phase, and then monitoring in live use to ensure rapid debugging and optimal ongoing performance. Due to this full-lifecycle approach to model quality, TruEra has been selected as the preferred vendor by multiple Fortune 1000 companies.
Harver is the industry-leading hiring solution helping organizations optimize their talent decisions. Rooted in over 35 years of rich data insights backed by I/O psychology and cognitive science, Harver delivers a suite of automated solutions that enables organizations to engage, hire, and develop the right talent in a fast and fundamentally less biased way. Having processed over 100 million candidates, Harver provides trusted, data-driven, and adaptable offerings, including assessments, video interviews, scheduling, and reference checking. Harver has helped more than 1,300 customers take the smart path to the right talent.
TruEra helps companies to build and maintain better ML models, faster. TruEra provides the first suite of AI Quality solutions that help enterprises analyze machine learning, improve and monitor model quality, and build trust. Powered by enterprise-class Artificial Intelligence (AI) Explainability technology based on six years of research at Carnegie Mellon University, the TruEra platform helps eliminate the black box surrounding widely used AI and ML technologies. This visibility leads to higher quality, explainable models that sustainably achieve measurable business results, address unfair bias, and ensure governance and compliance. To learn more, visit truera.com.