Tuesday, November 12, 2019
Patent-pending, AI-driven “Likely to Be Contingent Worker” model broadens available candidate pool and improves recruiting efficiency
ORLANDO, Fla. (Nov. 12, 2019) ꟷ Workforce Logiq, a global provider of workforce management software and services to large corporations, has filed for a patent on its “Likely to Be Contingent Worker” algorithm. The proprietary, AI-driven model – developed by ENGAGE Talent, the award-winning predictive analytics and AI software company recently acquired by Workforce Logiq— identifies passive candidates most likely to be open to contingent or “gig” opportunities before they self-identify by applying for an open job posting.
“Despite global contingent workforce management being a multi-billion dollar market, recruiting platform innovation has been focused primarily on full-time worker identification and engagement,” said Dr. Christy Whitehead, chief data scientist at ENGAGE Talent and lead inventor on the patent. “Until now, hiring organizations have recruited from the pool of ‘known’ contingent candidates who have worked in a prior contingent role for them, or have applied to a contingent job posting. This effectively limited available talent considered by hiring managers.”
Workforce Logiq’s patent-pending algorithm expands the recruitment talent pool for its clients by providing a faster, more effective, and data-driven approach to identify passive candidates most likely to be open to contingent opportunities, now or in the future. Workforce Logiq clients will be able to pair the new predictive recruiting tool with the company’s “Likely to Engage” patent-pending algorithm recently validated in a Harvard Business Review article: candidates ENGAGE identified as “most likely” to be receptive to new job opportunities were twice as receptive to unsolicited recruitment messages and 63% more likely to change jobs, as compared to those who were predicted “unlikely” to be receptive.
“Our recent acquisition of ENGAGE is already driving real innovation for the contingent market,” said Jim Burke, chief executive officer of Workforce Logiq. “The combination of data science and industry expertise gives our customers a predictive head start to find and hire the market’s best contingent and full-time talent faster and more efficiently.”
To learn more about Workforce Logiq and recently acquired predictive analytics and AI software company ENGAGE Talent, please visit the Workforce Logiq – ENGAGE Talent Welcome Center.
About Workforce Logiq
Workforce Logiq — the global leader in workforce management intelligence, technology, and expertise — enables organizations to win and retain the talent they need to grow. With clients in 50+ countries, Workforce Logiq provides expert guidance, real-time and predictive analytics and patented and award-winning technologies. Workforce Logiq’s universal sourcing solution addresses all elements of its client’s acquisition and retention programs, including full-time (RPO), contingent (MSP), and freelance/“gig” (FMS) workers. Backed by global investment firm The Carlyle Group, the company helps clients attain greater management, performance, and financial control over their talent supply chains.
Today, Workforce Logiq is powered by more than 1,000 workforce management experts and manages 8,000 active supplier relationships and $3 billion in spend globally. Workforce Logiq is headquartered in Orlando, Florida; its European headquarters is in Stockholm, Sweden. Workforce Logiq’s portfolio of companies include AI software company ENGAGE Talent and advanced payroll provider Loki Systems, and background screening provider Quick Search. For more information visit https://www.workforcelogiq.com, follow on Twitter @WorkforceLogiq, or connect with Workforce Logiq on LinkedIn.
Corporate Ink for Workforce Logiq and ENGAGE Talent