An increasing number of companies gather in Latin America. The competition to attract, engage and retain highly skilled individuals is becoming stronger by the day. Cielo, a Recruitment Process Outsourcing (RPO) company that operates in 12 Latin-American countries, didn’t want to miss the train. It made a ‘significant’ investment in Brazil-rooted talent acquisition technology company Talentify.
Nevertheless, according to the Latin American Economic Outlook 2016, Latin American firms are 3 times more likely than South Asian firms to face serious operational problems due to a shortage of human capital.
36% percent of surveyed firms in Latin America declare the lack of skilled people to be a major threat to their performances. This is significantly above the global average of 20.9%.
Jorge Aramburo, CEO of PSL, a highly successful Colombia-based software company, confirms the challenges. He states that companies in Latin America “have unique opportunities [… ] but need to focus on excellence rather than cost to be able to compete effectively.”
At the same time, smartphone-use is rising and more people apply for a job with their mobile devices. However, conversion rates in recruiting haven’t significantly improved.
The investment of RPO-firm Cielo in Talentify shows that, all over the world, mobile-first and user-friendly platforms will become indispensable in the online recruitment scene.
In 2015, Talentify rooted out of three Brazil-based companies. In early 2017, the startup moved its headquarters to Orlando, Florida. It’s the first Results-As-A-Service company in the recruitment- and talent industry.
Convinced there was a simpler way to leverage technology in recruiting experiences, Talentify created FLUX, a mobile-first platform that combines the best of all career- and recruitment sites as it automatically attracts and screens candidates to schedule interviews with hiring companies.
FLUX mingles AI with recruitment marketing, behavioural psychology and an experience design. And the results may be seen: FLUX is said to deliver up to 10x improvement in recent customer success, including a better velocity, quantity and quality of the candidate.
“Our consumer-grade, mobile-first experience and programmatic sourcing capability drive down costs by improving conversion-to-hire rates,” said Talentify Co-Founder and CEO Othaman Gama Filho.
Headquartered in Wisconsin, Cielo is a global strategic RPO firm for more than 143 clients over 91 countries. It has been a user of Talentify’s platform for some time.
“Cielo invested in Talentify because our vision is perfectly aligned with their approach to revolutionizing talent acquisition processes for distributed, repetitive hiring,” said Sue Marks, Cielo’s Founder and CEO.
Talentify founder Othamar Gama Filho agrees: “Our products will free up the people who work in talent acquisition to actually work with talent. We will nudge them to take the next necessary action when it is most appropriate.”
Though the exact amount of the investment is not disclosed, Cielo has taken a minority ownership stake.
Talentify will partner with Cielo’s leadership team and strategic board of advisors to drive new value into the recruiting market.
However, it will remain independent and Gama Filho will continue to lead the business.