Gig Economy Shark Tank: Technology Innovation Competition
Transcript of Gig Economy Shark Tank: Technology Innovation Competition
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Connecting and Optimizing the Talent Supply Chain
Gig Economy Shark Tank: Technology Innovation Competition
Moderator: David Francis, Research Manager Staffing Industry Analysts
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Connecting and Optimizing the Talent Supply Chain
Our Sharks
Jai ShekhawatFounder + Former CEOSAP Fieldglass
Jody Greenstone MillerCo-Founder & CEOBusiness Talent Group
Marcus SawyerrCEOYOSS USA
John NurthenExecutive Director Global Research SIA
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Connecting and Optimizing the Talent Supply Chain
Gig Economy Shark Tank Overview§ Five technology companies will pitch their company/product to
a panel of sharks (~5 minutes each)§ Sharks will question the presenters (~5 minutes each)§ After all five companies present their pitches, the audience and
shark panel vote to decide the winner as well as the audience favorite
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How Did We Select the Finalists? § Companies were allowed to nominate themselves via an online application. Finalists
selected by SIA research panel.
§ Primary selection criteria: – Must have technology focus– Level of innovation of solution/potential impact – Demonstrated success/traction
§ Secondary selection criteria: – Variety among finalists – Preference for earlier stage firms– Preference for standalone solutions versus conglomerates/divisions
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Connecting and Optimizing the Talent Supply Chain
2018 Gig Economy Shark Tank Finalists
Vivek Anand Founder & CEO Workonomix
David BernsteinHead of Partnership
AllyO
J. Trevor FosterCo-Founder/CEO
Fulcrum
Sunil BagaiCEO
Crowdstaffing
Allison RobinsonFounder & CEO
The Mom ProjectSean Ring
Co-Founder Fulcrum
Because…Today It Is NOT!
Recruiters Are Overburdened Candidate Experience Is Poor
number of reqs per recruiter
applicants get qualified for a role
Applicants receivea response
Time spent on rote admin tasks
Candidates rate their experience as positive
Drop-off during online applications
Source: SHRM 2016 Human Capital Report, Indeed 2016 survey, Glassdoor
delightful & efficient
days per week recruiter time saved
Candidate
Satisfaction
Applicants served
Application
Completion
294%
92%
100%Customer NPS
applicants require human help
< 5%
97%
↑ Staffing Profits By
200-300%
Recruiters / Consultants save 2 days per week
Spend more time with clients, since AllyOautomates screening, scheduling ...
Reduce sourcing spend by 30-50%
Screen all incoming applicants and engage with talent pools and employee referrals
Investing in 5 Differentiators
End-to-End Recruitment
Best Tech & Industry Partners
In-House Development
Fortune 500 Customers
● AI & ML Framework
● Ontology
● Scheduler
● Screener
● Integrations
● Matching Engine
$19Minvested
For candidates
…To Become the A.I. Platform
That Serves ALL Stakeholders
Engagement
Natural language
Multi channel
Multi lingual
Automation
Dynamic and
reason-based (e.g.,
role re-routing)
Intelligence
Self-learning
Proactive
+ +
For hiring teams and recruiters
For Staffing leadership
Focus of legacy
AI chatbot
recruiters
Thank You
www.allyo.com | Text “Demo” to 404.205.8587 linkedin.com/company/allyo.com | @ApplywithAllyO
Copyright © 2018 Crowdstaffing
Crowdstaffing
Building Connections and Driving Prosperity
SUNIL BAGAI, CEOCROWDSTAFFING
Copyright © 2018 Crowdstaffing
Staffing Industry Scorecard
33%of jobs remain
open for 3 monthsor more
48%of companies use spreadsheets to manage hiring
250resumes on
average reviewedfor each job
6.6Mopen jobs in the
U.S. today
30# of staffing agenciesused to fill open jobs
on average by companies
$160Bannual cost of unfilled jobs to U.S. businesses
Copyright © 2018 Crowdstaffing
What Type of Walls Are We Building?
Private Talent Pools create silos of candidate data that is inaccessible across systems and organizations
Cumbersome online application processes for candidates to complete
Hundreds of point solutions that solve specific problems and don’t
work together
Different systems for different users
High level of competition rather than cooperation
Candidates viewed as commodities rather than people
with specialized skills
Copyright © 2018 Crowdstaffing
What Is Crowdstaffing?
Crowdstaffing is a hiring marketplace that helps companies find best-fit talent, matches candidates with ideal job opportunities, and makes the entire hiring journey seamless and efficient –
from sourcing, to hiring and onboarding.
A Network Effect…a phenomenon where increased number
of people or participants improves the value of a good or service
Copyright © 2018 Crowdstaffing
A Transformative Approach
Shared Talent Pools
Delightful User Experience
Talent Supplier Network
On-demand Hiring Marketplace
Enriched Candidate Profiles
Actionable Data Insights
Machine, Network, and Human Intelligence
Unified Technology Platform
Copyright © 2018 Crowdstaffing
Unprecedented Value Creation for All Participants
All-in-One Solution for Hiring Orgs, Candidates and
Talent Suppliers
Monetization of Shared Talent Pools Unlocks New Revenue Model for Clients
and Suppliers
Ever Increasing Data Set Enriched by
AI and Humans
A Network Effect Delivers Better Speed, Scalability and
Hiring Outcomes
HiringMarketplaceA.I.
ApplicantTracking
WorkerOnboarding
Copyright © 2018 Crowdstaffing
Scorecard: $400M Contingent Workforce Program
#1 staffing supplier in program
100% compliance for 20 consecutive quarters
Fastest submit time in program
85% candidates shortlisted
52% lower bill rate
53% better fill rate
28% better interview rate
The Crowdstaffing Effect
Copyright © 2018 Crowdstaffing
Lets Prosper Together!“If you want to go fast, go alone. If you want to go far, go together.”
- African Proverb
T H E F O U N D I N G T E A M
Top millennial in staffing industry – Closed $25M in target market –Frequent speaker, webinar host
– Community builder –Recognized industry advocate
Title Lorem Ipsum
F I RS T L A S T
Serial Entrepreneur with experience in CTO, CEO, Board and Advisor positions. Raised
institutional funds and executed a nine figure exit of his prior
company.
Title Lorem Ipsum
F I RS T L A S T
Innovation & Finance Executive –Corporate Strategy – Managed $6M annual operating budget –Proven leader – Gig Economy
speaker & author
Title Lorem Ipsum
F I RS T L A S T
CEO
T R E V O R F O S T E R
CRO
S E A N R I N G
CTO
T Y S O N MC D O WE L L
F U N D A M E N T A L L Y I N C O M P A T I B L E
Enterprise Contingent Workforce
Standard user interface (VMS)
Structured process (MSP)
Strict compliance
On-site
The Gig Economy
Unique user interface
Agility in process
Non-compliant
Remote
FundamentalGap
T H E F U L C R U M P L A T F O R M
Seamless integration of the GIG ECONOMY into the ENTERPRISE CONTINGENT WORKFORCE PROGRAM
Enterprise• API Integrations
• Commercial Integrations
• Workflow automation• Integrated compliance suppliers
40
Companies in the top quartile for gender diversity are 15 percent more likely to have financial returns above their respective national industry medians.
–McKinsey
Diversity is critical to long-term business success
+15%Financial returns above their respective national industry medians.
Companies must innovate the ways they seek out female talent
+43% highly skilled women leave the workforce after becoming mothers and that’s rising with millennials
Women represent the clear majority of full-time freelancers, most commonly citing caregiving as the reason why
41% of new businesses are started by women—a significant increase over the current 19% national average
More women are pressing pause.
More women are opting to freelance
More women are starting or joining new ventures
42
We believe the brands who are able to break through the noise to make authentic connections with women will be the real winners.
In the competition for diverse talent; there will be clear winners
43
Female talent are 3.2X more likely to engage with an opportunity via The Mom Project than traditional outreach. This is because we’re not trying to minimize one of the most important considerations in their decision matrix—family.
The Mom Project is the trusted career resource for women.
MORE LIKELY TO ENGAGE WITH AN OPPORTUNITY
3.2x
OVERVIEW
• Since launching in April 2016, more than 1,000
businesses have joined, including 30+ Fortune 1,000 Enterprises, connecting with over 50,000
members of our talent community
• Variety of work types are offered on the marketplace with a focus on professional and project-based gigs
The Mom Project is a two-sided marketplace and community that connects Enterprises with female talent.
A snapshot of our community – 50,000+ women
OUR TALENT’S TOP FUNCTIONAL SKILLS
Marketing
Human Resources
Operations
Finance
Technology
Legal
Administrative
Sales
OUR TALENT’S STATS
Average years of experience
8 to 10Bachelor’s
degree
94%
Completed advanced degree
40%
Active in the work force
72%
I did not want a huge gap in my resume when I took some time off to be a “mom,”
and with The Mom Project I can literally have the best of both worlds. I was
matched with a great company that cares about their employees and is willing to
work with my needs, not only as an employee, but as a mom as well.
Melina Harvey-ReedSenior Accountant
46
47
Marketplace traction
MARKETPLACE REVENUE MONTHLY ACTIVE USERS
MoM trailing 6 months+23%
60,000+ MAU
CHICAGO
ATLANTA
SAN FRANCISCO
NEW YORK
LOS ANGELES
Enterprise customers across key markets
48
Dark blue indicates current customers
CHICAGO
ATLANTA
SAN FRANCISCO
OUTSIDE CORE MARKETS (CHI, ATL, SF)
Advocacy PartnersCompatible Jobs
49
KEISHA BOTTOMS, MAYOR OF ATLANTA
Partnering with public and private leaders to push forward family-friendly policies.
Curating brand partners that simplify the work + life equation for moms.
Healthcare coverage for freelancers
Inspiration and insight for modern parents
Clothes Designed for Women and Engineered for
Moms
Delivering high quality, curated job matches that incorporate moms most important work + life considerations.
“The Mom Project understands the value of the hardest job there is: raising our children.”
Building trust and loyalty with moms.
When we can support our working moms, we can lift up every family. A great reminder on this Mother’s Day.
“These aren’t your stereotypical stay-at-home-mom jobs”
#MomUpAmerica
Market sizing
50*Staffing Industry Analyst: The Human Cloud, the Gig Economy & the Transformation of Work *https://www.statista.com/statistics/220708/us-total-sales-in-temporary-staffing--sector-breakdown/
TALENT MARKETPLACES
U.S. Staffing Industry$136B
U.S. Temp & Contract Staffing Industry$116B
U.S. Online B2B Talent Marketplaces$3B
The $116B U.S. contract staffing industry is dominated by incumbents. Digital players represent less than 3% of spend.
LEADERSHIP ADVISORS
Company overview
Allison RobinsonCEO(P&G, Pampers Innovation Lead)
Dr. Pam Cohen Principal Data Scientist
(Blab, VP Predictive Intel, Ketchum, SVP Predictive Analytics)
Gary Swart(O-Desk, CEO, Polaris, General Partner)
Arun UmapathyCTO
(NY DevShop, CEO; TechDay, Sr. Developer)
Gregory RobinsonCFO/COO
(L-Catterton portfolio co. CFO/COO; Alvarez & Marsal)
Phyllis Stewart(Stanford, Sr. Dir. Worklife Strategy; SAP, VP Diversity)
Christine CoyleDirector Client Partnerships
(Robert Half, Director Client Services)
Colleen CurtisHead of Community & Marketing(Yelp, VP of International Community & Marketing)
Eddie Lou(Shiftgig, Co-Founder & Exec. Chairman, Mom Project, Board Director)
Name: The Mom Project
Concept: digital talent marketplace that connects talented women with world class employers that respect work-life integration
Headquartered: Chicago, IL
Founded: April, 2016
Funds raised to date: $2.6MM
INVESTORS
51
– THE HUFFINGTON POST
“This brand is building a stronger workforce for the women of today and their daughters, who will be our CEOs of tomorrow.
2
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Vote now for your favorite:
1. Level of innovation
2. Market potential
3. Quality of presentation/ interaction
§ Link to vote: UPDATE LINK HERE§ Voting criteria:
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Connecting and Optimizing the Talent Supply Chain
Vote Now for Your Favorite:
1. Level of innovation
2. Market potential
3. Quality of presentation/interaction
§ Link to vote: https://www.surveymonkey.com/r/2018SharkTank§ Voting criteria:
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Connecting and Optimizing the Talent Supply Chain
Shark Vote§ Instant runoff vote; finalists ranked 1-5§ Companies eliminated until one firm has
a majority of 1’s § In case of a tie, audience will be tie-
breaker
1. Level of innovation 2. Market potential 3. Quality of presentation/interactionCriteria ✚ ✚=