If you missed the news breakdown from last week, you're in for a treat this week. The boys breakdown a bevy of news, including
- iCIMS buying Jibe
- AMS buying a chatbot
- Where you at SHRM? Do you job!
- Rumors out of CareerBuilder, and Entelo,
and new headwinds for Slack.
PODCAST TRANSCRIPTION sponsored by
Announcer: Hide your kids. Lock the doors. You're listening to HR's most dangerous podcast. Chad Sowash and Joel Cheesman are here to punch the recruiting industry right where it hurts, complete with breaking news, brash opinion, and loads of snark. Buckle up boys and girls. It's time for The Chad & Cheese Podcast.
Joel: Oh, yeah. Don't call it a comeback. Back with our regularly scheduled weekly roundup, this is the Chad & Cheese Podcast, HR's most dangerous Mfers.
Joel: I'm Joel Cheesman.
Chad: And I am tired as fucking hell dude. This travel is some shit.
Joel: You crazy, mofo man. On this week's show iCIMS ain't no Jibe turkey, Karen finds... You like that one?
Joel: Karen finds a mate and Slack gets a stiff arm. And we have more rumors than an episode of TMZ. Stay tuned, we'll be right back after this word from Sovren.
Sovren: Find out more about our suite of products today by visiting sovren.com. That's S-O-V-R-E-N.com. We provide technology that thinks, communicates, and collaborates like a human. Sovren, software so human you'll want to take it to dinner.
Chad: I always do, every single time I hear that commercial.
Joel: So I posted on Facebook this week that Spaceballs was released however 30 years ago or whatever it was, and my favorite line is when they're combing the desert, "We didn't even found shit."
Chad: While they were combing the desert, the white dudes have a comb, and the black dudes have a pick.
Chad: It was awesome.
Joel: Yeah, it's funny shit. I see your fort is as big as mine.
Chad: Love it.
Joel: Yeah, dude. You've been a traveling man. I was smart enough to take a little time off. But you had to go out to Denver last week.
Chad: Yeah. No, I had a great time. Louise Grant from Jobg8. Julie was actually on stage. She fucking killed it. I was her roadie, let's put it that way, which was awesome.
Joel: She is number one, were you like standing ovation, go baby go.
Chad: It was awesome. We go to a lot of these industry conferences.
Joel: We do.
Chad: And it's really cool because you see at lunch with the guys from TalkPush and so on, Bill Fanning and Jonathan Duarte, just all these guys that you see.
Chad: The things that stick out about a conference is what matters, right? As soon as you come in, you know how they give you the bag full of like, I say in most cases junk. It's got all these cheap tchotchkes and shit, right?
Chad: So Louise and group, they give you a bag, and it had beers in it.
Joel: Were they in a cooler or something? Just warm beer?
Chad: They were warm, yeah. So you had to get your own ice, not a ... I can do that for goodness sakes.
Chad: But giving of the beer was pretty awesome. So, that's a big applause.
Joel: Okay. So was this Denver, Colorado based beer?
Chad: Yes, yeah.
Chad: It was all local brews.
Joel: How many?
Chad: I think there was just one per, but Louise gave me a special bag because she knows we like beer, that had six Senators or something like that.
Joel: I feel like this whole beer thing is a little bit like thanks to us. A little bit, just a little bit.
Chad: It could be. It could be.
Chad: But I have to say that was pretty awesome.
Joel: This whole ... Yeah, the spread of alcoholism, you know God bless the Chad & Cheese Show.
Chad: That's like TAtech. You go to TAtech, whenever we're on stage they open the bar. I mean Pete and Peter at TAtech. It's like no they get it. Then obviously SmashFly. We were on stage at SmashFly just a-
Joel: Bucket of beer.
Chad: Yeah, a bucket of beer was brought to us. So pretty much wherever we go they understand that it's kind of written in our silent contract, I guess you could say.
Joel: In Belgium, I presented at a bar.
Joel: That's I can die a happy man now at a bar.
Chad: At Tyrone everybody was faced forward but the bar was at the back and they brought the bar in for us. So all we did was go to the back of the room and we sat at the bar and pretty much did our talk during that. But we turned the entire room around because the bar was at the back of the room. That's good shit dude.
Joel: Yeah, and we've been really good at our server skills lately.
Joel: Honing those.
Chad: We're trying.
Joel: Delivering the goods to people. But yeah, Louise that's a big thumbs up.
Chad: Got to love it. Got to love it.
Joel: Dear conferences, take note conferences out there.
Chad: Take note.
Joel: Goodie bags of beer. I'm surprised with Colorado there wasn't something green in the bag too.
Chad: Yeah, I know. That sit was going around all over the place. So whether it was gummies or just the traditional, that was happening.
Joel: I guess we're starting shout outs, I guess that's the first one technically.
Joel: Yeah. So you mentioned SmashFly. But huge shout out to Josh Zywien.
Chad: Julia Levy from Fiserv.
Joel: And Holland McCord, right?
Chad: No, Holland McCue.
Chad: Dombeck McCue yeah, from Delta Airlines, yes.
Joel: Yeah. She's had eight names since I've heard of her.
Chad: Yeah, I know.
Joel: But yeah, they were brave enough to come on stage with us, talk shop, and big shout out to those folks.
Chad: Yeah, and Holland actually brought us beer from Atlanta. So again, people are just getting us. So here's a couple of things from SmashFly that I loved.
Chad: So, Alan and Tyler from Intel I loved that they're on stage telling everyone that their bat shit bad recruitment funnels suck. Get rid of them.
Chad: I want to bring these guys on because again, they're Intel, they have a lot of money they're pushing into recruiting and what not, which I think is just awesome especially from a tech systems' analytics standpoint, a data standpoint.
Chad: But I want to get these guys on the show to talk about their recruitment infinity loop. It's really good shit and we saw a lot of that where everybody is kind of moving from this old funnel to more of an infinity loop.
Chad: That is more predicated on not just the recruitment process but also engagement. So trying to kind of blend engagement into the recruiting piece. Go fucking figure, right?
Joel: Engagement, a common theme on the show that we love so very much.
Chad: Yes, yeah. And Holland also said in her presentation of Delta Airlines that they actually have gained, they're given 80 hours back to their recruitment team through their use of Chatbots. So, I thought that was pretty cool.
Chad: So hearing these practitioners on the stage talk about yeah, this is really cool. But also to be able to talk about the data and the really practical ways that they're using it and the impact on their teams.
Joel: Chatbots clearly work. Like a year or so later they're clearly ...
Joel: It's one of our new stories we'll feature, a little tease there. They're going to start falling like dominoes to acquirers. But anyway, we'll get to that in a second.
Chad: Too easy, yeah.
Joel: Shout out to iHeartRadio.
Joel: Apparently you can now listen to the Chad & Cheese podcast at iHeart.
Chad: Yeah, iHeartRadio and also the new platform Luminary. We're on Luminary, iHeartRadio, and we just continued to add platform.
Joel: Luminary is an interesting one. They have paid podcasts like exclusives on there.
Chad: Yeah, yeah.
Joel: So let's see if that works very well for them. You had a couple of new listeners, Kevin Kirkpatrick and Stormin Norman. You know anything about these cats?
Chad: Kevin Kirkpatrick, first and foremost, I just wanted to say that you're saying John wrong, okay? So he's a new Philly listener. Or maybe he's not a new Philly listener, but he's a Philly listener.
Ed: Yo, that John is so lame.
Chad: That's exactly right. Thanks Ed. Stormin Norman is a guy that I've known forever. He's been in this industry forever and he has 1500 domains that he's trying to get rid of just because they're sitting around doing nothing. So he's like, "Chad can you say something about it on the pod?" I'm like, "Yeah, not a problem."
Chad: So if you're looking for ... These are trusted domains that he really just can't do anything with. Go ahead, hit us up on chadcheese.com.
Joel: Are they really good?
Chad: Yeah, some of them are actually pretty good. But I didn't go through all of them because it's like over 1,000 domains.
Joel: We need to give him Jason Davis' number because he's got about 1,000 domains too. Maybe they could be like a bundle package deal.
Chad: But anyway, so shout out to another, I believe, new listener, a Jose Watson. It's hilarious. He actually was listening to the Chad & Cheese podcast without headphones at work and he was asked to please put the headphones on because there's some language. So sorry not sorry Jose. You should have known better.
Joel: He had a moment there, didn't he? Oops.
Chad: Oops. Then Sarah Stamp who logged into and listened to our live stream on SmashFly's Transform. She's a listener but she obviously wanted to watch the show too. So, big shout out to Sarah.
Joel: And that's when she discovered those guys have a face for podcasting.
Chad: Especially you, yes.
Joel: I'm sorry George Clooney. Have we shout out to SmashFly Transform yet?
Chad: Yeah, those guys really killed it in Boston. The venue was pretty awesome. Having practitioners, again, not just talk about fluff about stuff on stage, I hate that shit.
Chad: I get up and leave when I hear practitioners just talk about fluffy bullshit on stage. I was in my seat listening to things that actually mattered. So big props to Jay Z, to Tom, to Brandy and the gang over there for putting that together.
Joel: Yeah. I was sad that I had to jet out early for you know personal reasons. But I was glad to see that the QR Code is making a comeback with Sprint Recruiting, I believe.
Chad: Don't call it a comeback, it's been here for years. Last but not least, we've got to finish this shout right with RecFest. Guys we've been talking about RecFest for a while. I know it's like Chad shut up it's already sold out. You can still get on the wait list.
Joel: You lead the way.
Chad: Yeah, you can still get on the wait list. But here's the thing guys, 3,000 attendees, five stages. They're actually shutting down four of the stages and we're going to be the headliners.
Chad: So we're the last ones that are actually on and through our friends at Talent Nexus, we're going to be doing some really cool stuff with them. I'm just teasing you about it now.
Chad: But one thing that we will tell you about is if you're going to be at RecFest, we've actually teamed up with Talent Nexus and we're going to be giving some lucky listener/twitter follower, whatever, a free year of beer or coffee depending on what they like. If they like coffee we'll probably give it to the person who's going to take the beer. But anyway, free year of beer. Promotion should be a blast.
War Games: Shall we play.
Chad: God damn straight. I'm stoked. We have some other surprises with the guys from RecFest. We're putting some things together. You've got to be at the stage because we're going to be giving a lot of shit away and a lot of surprises are going to happen. So, it should be a blast.
Joel: Be there or be square baby and you'll miss my red, white, and blue speed dial if you don't show up.
Chad: Correct. I sure hope you don't have one of those.
Tengai: Hi. This is Tengai, the unbiased interview robot. You're listening to the Chad & Cheese podcast. I love these guys.
Joel: And we love you too Tengai.
Chad: How could you not.
Joel: Almost as much as iCIMS love Jibe this past week or two weeks ago.
Chad: Yeah, yeah.
Joel: Our buddies at iCIMS who have gotten the acquisition bug here lately acquired Jibe, which I guess you would call sort of a talent platform.
Chad: More of an engagement.
Joel: Yeah, making career sites, being knee deep in Google stuff really early on.
Joel: Yeah branding stuff. Sort of an attraction ... See how I did that, we'll lead into that. Sort of an attraction platform that iCIMS is building here. You'll remember they acquired TextRecruit a year or so ago as well. So they're building a nice little platform for marketing to candidates.
Chad: Yeah, and I think TextRecruit has probably been like close to two years now, right? Man, it's been a little while.
Chad: So I mean once again people, I'm going to say this again and you've heard it before but too fucking bad. Let me make this very clear, this is an arms race. It's what it is. You either pick who you're going to partner with as a core tech or you try to survive on the island by yourself. That's what's happening here.
Chad: So, Canvas obviously, Jobvite, TextRecruit, iCIMS, Jobvite also with Telemetry, which is kind of like a Jibe like platform, I guess you could say.
Chad: Yeah, RolePoint. I mean there's all this that's actually happening, and this is an arm's race. Make no doubt about it. The big question is if you're a start up out there or if you're a company that has been a point solution for a very long time, are you going to join in this kind of arm's race? Are you going to try to duck and cover and hope this shit passes?
Joel: So we have a whisper number for what iCIMS paid for Jibe, unsubstantiated rumors, but we like our sources pretty well. The number that I heard was 60 million.
Chad: Yeah. So the amount of cash that they actually were able to put together was like over 40 million, right?
Joel: Yeah. Jibe raised around 39 million, I think.
Chad: Okay, okay. So you take a look at the sale on that, that's not a bad buy for iCIMS, right?
Joel: No. Jibe investors didn't get quite the 10X that they were probably hoping for. It was more like the one and a half X.
Joel: Yeah, and acquisition on the West. I had heard over the years, sort of negative rumors about Jibe and sort of they're running out of money.
Joel: So I'm not going to say that it was a clearance sale, but it probably was a little bit of a bummer for Jibe investors who forked over 40 million.
Chad: Yeah. Well Joe very early on became very fast friends with Google, right? With Bogomil and then now Tarquin to be able to infuse their tech, the Jibe tech with Google and use Google search, which we thought was very smart, right out of the gate.
Chad: And while that was happening, guess who else was a part of that whole kind of collab that was happening? iCIMS. iCIMS is doing the exact same things. So the big question was were they pretty much in the room together, did this all kind of come about through those types of relationships? That's a good question.
Joel: Well we know iCIMS is a huge fun of Google and sort of taken up the middle man of job search.
Joel: So, yeah, definitely a match made in heaven from a Google affection standpoint.
Joel: Joe will be joining iCIMS as a VP, I believe, or a general manager of the new Attract product.
Chad: Which means Jibe's going away.
Joel: Probably, probably. It's a good name though.
Chad: Well last year ... No, it's a great name. Last year when we were at iCIMS HQ and we were going through the iCIMS' Influence Analyst Conference they were talking about these different components.
Chad: The big question that I had for Al was dude, you can't build all this shit. You can but it makes no sense. He was like, "No, no, you're right. You're right." Which is one of the reasons why we bought TextRecruit.
Chad: So I see this as something where some very smart people, the Colin Day's of the world, the Al Smith's of the world, they know their shit. He's a due diligence kind of guy, so he saw something I'm sure in Jibe that they wanted to pull in because it's kind of like cheating, right?
Joel: A little bit. Susan Vitale at iCIMS will probably hate me to say this. But I like Jibe better than I do iCIMS as a brand.
Chad: Yeah. I mean that's the hard part, right? Not to mention it has the name in the market. Not to mention if you pull Jibe, and this is kind of the argument that you and I have had for a little while is if you pull Jibe into iCIMS as a part of iCIMS you could have perspectively lost money from clients because clients actually have a bundle of money for a "talent attraction", talent engagement type of platform, and they have obviously a bigger pile of cash for their applicant tracking system.
Chad: Here's the thing, if they're both together, I guarantee you that pile of cash for the engagement piece is going to be much, much smaller. But if it's a different platform, a different product but just owned by iCIMS, I think they can actually keep and gain more money that way.
Chad: Again, that's just my opinion but knowing how the actual market thinks and selling into this market for 20 years, that's what going to happen.
Joel: I know you're a big fan of house of brands. But to me, and I could go either way, I'm a huge fan of either depending on the product. But I think with the announcement of Attract, iCIMS Attract or whatever they're calling it, I would not be surprised to see Jibe and TextRecruit sort of melt into this new Attract tool.
Joel: You will probably say that's a bad decision. I would say it's probably just something that's going to have to happen regardless. But we'll see those guys in a few months. We'll have to nail them down for an interview and see what's really going on with those brands.
Chad: Well literally if you have a company like ... And this has a lot to do with culture too. Let's not try to throw this out and just think it's a brand thing because it's not. The people who work for TextRecruit right now, okay, they might be getting paid through obviously the iCIMS funnel. Totally get that, right?
Chad: They believe that brand. They are a part of that brand, that TextRecruit brand. If you get rid of a brand like that, something that has had a purpose and something that ... I mean Eric has obviously sold these people on for years because he believes in the purpose. He embodies that purpose. That's going to be an issue from a resource standpoint because people will leave because that purpose means so much to them.
Chad: So, if they are looking to make this transition, they're going to have to do it in an incredibly delicate manner.
Joel: Slowly. It will be iCIMS Attract messaging powered by TextRecruit for the next two years and then it will slowly just fade away.
Chad: Again, it's a delicate conversation.
Joel: It's just delicate. Delicate like the name Karen, which leads us to our next story.
Joel: A love story between Alexander and Karen.
Chad: Alexander Mann Solutions acquires Karen.ai. This to me is big fucking news. It's a Chatbot, right?
Chad: So we've got all of these messaging solutions that are being acquired. Now, again, this isn't just an arm's race for the "tech vendors." RPO and staffing see the writing on the wall as well and they know they have a better chance of building the tech and it will be adopted if it's going through their services.
Chad: So if you're a staffing company and you're using these products or if you're an RPO and you're actually embedding these products and clients are paying for these products and you're embedding it into their process methodology, holy shit, it just makes sense from an adoption standpoint.
Joel: Yeah, yeah. I mean if you're a shareholder in a Chatbot right now you might want to go yacht shopping because the dollars are coming.
Joel: Investment dollars we've been talking about for a long time. But these suckers are going to get snapped up in the next 12 months post taste.
Joel: We know they work. You've mentioned Holland talking about the time saved, the money saved with Chatbots. We know that job seekers like them. There's no more black hole like. Chatbots work and ultimately people are going to write checks to gobble these guys up.
Chad: I'd like to dive deeper with Holland too and find out exactly what they did with the Chatbot that saved them that 80 hours because there might be ... I would guarantee there's even more that can be done. But do you know who actually works over at Alexander Mann Solutions? Do you remember?
Joel: That's our girl, right?
Chad: Yeah, the queen of Chatbots.