{"id":9867,"date":"2017-11-07T19:04:08","date_gmt":"2017-11-07T19:04:08","guid":{"rendered":"https:\/\/rsoftsolution.com\/blog\/sourceress-raises-3-5m-to-find-candidates-that-managers-want-without-realizing-it.html"},"modified":"2017-11-07T19:04:08","modified_gmt":"2017-11-07T19:04:08","slug":"sourceress-raises-3-5m-to-find-candidates-that-managers-want-without-realizing-it","status":"publish","type":"post","link":"https:\/\/www.rbsitsoftwaresolution.in\/blog\/sourceress-raises-3-5m-to-find-candidates-that-managers-want-without-realizing-it.html","title":{"rendered":"Sourceress raises $3.5M to find candidates that managers want without realizing it"},"content":{"rendered":"<p><!-- Begin: WordPress Article Content --><br \/>\n<img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/rsoftsolution.com\/blog\/wp-content\/plugins\/RSSPoster_PRO\/cache\/3f151_sourceress-team-photo.jpg?w=640&#038;ssl=1\" class=\"\" \/><\/p>\n<p id=\"speakable-summary\">When a company is looking for a candidate for an open role, the hiring manager is probably going to rattle off a bunch of qualifications that they\u2019re looking for to a recruiter \u2014 and Kanjun Qiu says recruiters will probably just run with that when the manager\u2019s requirements might not actually be so rigid.<\/p>\n<p>It\u2019s that\u00a0intent from the manager \u2014 the idea that the actual boundaries for a qualified candidate are more opaque \u2014 that sparked the idea for <a href=\"javascript:void(0)\">Sourceress<\/a>. Instead of just hunting down candidates based on a bunch of keywords, Sourceress works with hiring managers to understand the kinds of attributes they need in a potential hire and builds a model to find someone who would fit what a hiring manager is looking for, even if they don\u2019t fit the bill explicitly. To do this, Sourceress has <a href=\"javascript:void(0)\">raised $3.5 million in new financing<\/a> from Lightspeed Venture Partners, OpenAI researchers, Y Combinator, Dropbox founders Drew Houston and Arash Ferdowsi, as well as other smaller investors.<\/p>\n<p>\u201cThe advantage is that when you source and you go outbound as a company, people feel like, oh, you want them,\u201d Qiu said. \u201cYou\u2019re extending a hand out to them, and then they can choose to take your hand or not take your hand. It makes you feel like you\u2019re wanted, that you have these options, that you could go somewhere. The problem today is sourcing is so transactional, you hire sourcers who are on contract or not on contract. It\u2019s hard for you as a sourcer to spend time personalizing and customizing an approach, and the tools aren\u2019t really there.\u201d<\/p>\n<p>For example, just because someone doesn\u2019t have experience with a specific programming language doesn\u2019t mean they can\u2019t be trained in that language. So, rather than completely ignore a candidate because they don\u2019t have experience working in JavaScript, Sourceress should pick up on a candidate with years of experience using Python and flag them as someone worth flagging as a potential hire. The same might be true of a qualified candidate with experience using that language, but fewer years than what a company sets for its initial standards.<\/p>\n<p>The problem starts with a phone call with a hiring manager, where that person will detail to Sourceress what they want in a candidate. Sourceress then builds a model based on that information and starts scouring for candidates on the avenues that you might expect, trying to bend the boundaries so they aren\u2019t so rigid in their search for candidates. Each additional hire tunes those algorithms over time to better look for candidates. Right now, Sourceress focuses on engineering and product \u2014 because, for now, it makes sense to be working in an area where the team has experience.<\/p>\n<p>It\u2019s that tuning part which is probably the most critical aspect of Sourceress\u2019 future. Having to take a call with a hiring manager every time can be a pain, especially as more and more hiring managers call in and are really looking for candidates with very similar profiles. As Sourceress matches the right candidates, its idea of what a manager that wants when they ask for \u201ca Python expert\u201d will start to better understand the intent behind their search for a candidate, rather than just taking the qualifications at face value. The models become more abstract, and eventually, once Sourceress has enough data, it can automatically divine the right candidate profile.<\/p>\n<p>Right now, there\u2019s no candidate-side part of the service, as the low-hanging fruit is more on the recruiting side. But it would make sense to use such a model to slot into the spots that Indeed, Hired, or even LinkedIn,\u00a0have tried by giving candidates a hub to go and find potential job matches. Most potential hires are passive candidates that aren\u2019t looking, and it\u2019s hard to determine who to reach out if they aren\u2019t raising their hand, Qiu said.<\/p>\n<p>Taking this kind of approach by looking for potential attributes \u2014 and not just qualifications \u2014 is something Qiu said would help surface up more diverse candidates, which she said tend to have a higher response rate. Qiu also said the percentage of our hires for women and minorities on Sourceress is between 30% and 40%.<\/p>\n<p>\u201cWomen, when they look at a job description, they tend to disqualify [themselves],\u201d Qiu said. \u201cSo if you\u2019re reaching out they\u2019re more comfortable talking to you. If we\u2019re able to actually assess for merit, and we\u2019re able to fill the top of the\u00a0funnel with more women or minority candidates, your likelihood of hiring someone goes up. If you\u2019re not getting diverse candidates into the pipeline, it\u2019s hard to make diversity hires. The problem is most pipelines, they\u2019re referral based. Coming into this, we thought, if we can make finding candidates getting in touch with them much easier, we should be able to change.\u201d<\/p>\n<p>Since it\u2019s a language problem as much as it is an unstructured public-facing data problem, it\u2019s going to be an area with intense competition. There are startups like <a href=\"javascript:void(0)\">Headstart looking to help analyze candidates<\/a>, though that process more deeply involves the candidate side in order to determine the right fit. There are, indeed, <a href=\"javascript:void(0)\">a lot of startups getting funding in this space<\/a> \u2014 and it\u2019s likely that plenty of the bigger companies are working on such tools.<\/p>\n<p>The end goal would be, for example, for Sourceress to be able to find a student at a college in the midwest that will either immediately or one day fit the needs of a hiring manager. That might require scouring a Github account, or published papers, or what kinds of posts they put up on Stack Overflow. But the point is to come up with a diverse set of information sources that can help the company identify candidates that a recruiter might not find if they were just digging through LinkedIn for potential leads. All this data would naturally be public-facing, which means it could be up for grabs for anyone, but in the end, it\u2019s the approach that matters more, Qiu said.<\/p>\n<p>\u201cThe actual data itself doesn\u2019t matter, it\u2019s how you post-process it and the features you extract,\u201d She said. \u201cThat\u2019s our meta processing layer, that\u2019s the difference.\u201d<\/p>\n<p><!-- End: WordPress Article Content --><\/p>\n<p>Article source: http:\/\/feedproxy.google.com\/~r\/techcrunchIt\/~3\/k3nvoSZBskQ\/<\/p>","protected":false},"excerpt":{"rendered":"<p>When a company is looking for a candidate for an open role, the hiring manager is probably going to rattle off a bunch of qualifications that they\u2019re looking for to <\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_publicize_message":"","jetpack_publicize_feature_enabled":true,"jetpack_social_post_already_shared":true,"jetpack_social_options":{"image_generator_settings":{"template":"highway","default_image_id":0,"font":"","enabled":false},"version":2}},"categories":[19],"tags":[25],"class_list":["post-9867","post","type-post","status-publish","format-standard","hentry","category-enterprise-software","tag-enterprise"],"aioseo_notices":[],"aioseo_head":"\n\t\t<!-- All in One SEO 5.0.3 - aioseo.com -->\n\t<meta name=\"description\" content=\"When a company is looking for a candidate for an open role, the hiring manager is probably going to rattle off a bunch of qualifications that they\u2019re looking for to a recruiter \u2014 and Kanjun Qiu says recruiters will probably just run with that when the manager\u2019s requirements might not actually be so rigid. 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