Innovative Talent Sourcing Firm Genesys Talent Adds AI to the Mix with PREDICTe

AdobeStock / Christos Georghiou

Genesys Talent LLC (Genesys), an innovative talent sourcing and talent cloud curation firm headquartered in Houston, recently announced the release of PREDICTe, an AI-based set of capabilities for building and creating talent clouds.

Just over a year ago, we reported that Genesys had raised $2.1 million in a seed round that would be used to expand the Genesys team, invest in additional technology and enhance its existing talent sourcing and curation process. Since that time, the company has formed a data science team and have been developing PREDICTe. The solution has been in pilots with a number of businesses, and according to Genesys, the results have been very positive.

We recently had a chance to talk with the Genesys team to get further insight into PREDICTe and how it fits into the Genesys talent sourcing and curation model.

An Overview of Genesys

Since many of our procurement readers may not yet be familiar Genesys, an overview might be helpful. Genesys was founded in 2015, incubated by staffing industry veterans within the Willis Group, a regional staffing group. From the Spend Matters perspective, Genesys falls within an emerging category of innovative talent acquisition providers appearing in the overall staffing supply chain (other such providers in this broad category might include Hired, Elevate Direct and TopTal). While the latter group of providers were startups of industry outsiders, Genesys is an example of the growing tendency of traditional staffing players (including VMS and MSP providers) to incubate, partner with and/or acquire supply-side innovators.

In the Spend Matters article published at the time of Genesys’ seed round, we described the basic Genesys model as “a talent sourcing and curation solution or service, which combines state of the art technology with human touch and human capabilities to engage talent and provide it to enterprises. The basic Genesys model is to build and curate Talent Clouds of top talent with specific skills and experience aligned to customer demand; the Talent Clouds are presented to the enterprise’s hiring managers for review, selection, engagement, fast, quality, efficient placement/onboarding of both contract or permanent hires.”

Genesys has indicated that what it sells to clients is not technology, but rather fast, efficient access to actual curated talent. According to Genesys, the cost to clients somewhere between that of a traditional staffing firm and a third-party payroller.

What is PREDICTe?

Based on the above model, Genesys reports that it currently supports about 10,000 individuals a month who are active in some stage of the sourcing and curation process (being vetted and onboarded into talent clouds, fully vetted in talent and prepared for fast hiring by clients, engaged in the hiring select process, etc.). In order to scale this innovative model, the Genesys team realized than additional technology would be needed. Hence, PREDICTe.

Over the last year, Genesys has developed a team of software engineers, data scientists and product professionals with expertise in machine learning, artificial intelligence, natural language processing, and job and skill taxonomies. PREDICTe analytically breaks down job roles and job requirements on the hiring side and job roles and skills on the talent side to arrive at lower-level, standardized elements which can organized within a specific taxonomy. Machine learning and predictive analytics are used to support highly accurate matching.

According to Genesys CTO Bill Price (formerly of OnForce and Tapfin), “PREDICTe does much of the cognitive processing of traditional recruiters—but much faster and with greater efficiency and accuracy over time. It does not replace all of what a recruiter does, and it really frees up the recruiter to do more of what he or she can do best.”

Price continued: “We work with our customers to analyze the wealth of information they have stored in their legacy databases. Our Talent Data Activation service [provided to get clients started with PREDICTe] uses that static data to identify and unlock viable talent at a fraction of the cost of traditional sources.” In the recent press release, Genesys reported that “PREDICTe can reduce the time required to connect a candidate with an ideal employment opportunity by as much as 90%.”

When I talked to the Genesys team, they walked me through a real-world pilot case and the resulting performance improvements. This case involved a recurring requirement for 15 workers in a specific role within a two-day window. The customer’s existing recruiting process involved three to five recruiters to achieve a submittal rate of just over 25%. However, the Genesys PREDICTe approach required only one recruiter to achieve a submittal rate of over 85%. In another pilot, within a 48-hour period, Genesys was able submit a total of 135 candidates, all of which the client deemed “fully qualified” and accompanied by all supporting documentation for the final interview and selection phase.

Price says they are still in early days, but the results they are seeing are extremely promising. “We are confident we are on the right track,” he said.

Spend Matters Perspective

The talent supply chain is evolving and new kinds of “suppliers” or supply chain entities — for example, talent acquisition and fulfillment enablers — are appearing. As discussed in an earlier Spend Matters series, technology may be the major factor driving this evolution.

However, this not to say that new talent acquisition and fulfillment solution providers equate to fully automated and self-services processes. In fact, most of those we are seeing do not, and some that may have gone too far with automation (e.g. open, uncurated, self-service marketplaces) are reverting back to models augmented by more human services. We think this hybrid technology and human model will, for the foreseeable future, be a new equilibrium for the types innovative solution providers discussed above.

It is important to note that the innovation (new innovative solutions) and evolution (of the staffing supply chain) we are seeing is not the same as disruption. Many incumbent players are responding and evolving in the face of rapidly advancing digitalization and innovation, which are leading to new ways of organizing supply chains.

This gives rise to new opportunities that both new entrants and incumbents can exploit. For example, functions of a traditional staffing supplier (such as talent acquisition, compliance and payments) can be unbundled into different components that can be configured into different sourcing ecosystems. So it may be that a staffing supplier or an MSP — not simply an enterprise — will use a talent sourcing and talent cloud curation solution (e.g., Genesys) or other tools (e.g., Randstad Sourceright’s bundled FMS solution offering). At the same time, a traditional player might also rely on external providers of compliance and payment services and possibly the self-sourcing and supplier network platform of a VMS or other such solution to pull much of this together.

The main point here for contingent workforce and services procurement is that the evolution of the staffing supply chain is no longer a matter of the future — it is happening now. While the innovation and evolution may not seem to fit within current contingent workforce supply chain management frameworks, this is not really the case. Concepts of strategic sourcing, supply chain management, supplier-driven innovation and contract management are still applicable, but they must be adapted and applied to a new supply-side environment with new, innovative sourcing solution providers and new high value opportunities to augment existing supply chain arrangements with new digitally-enabled ecosystem configurations.

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