Last week I travelled a few hours down I-95 to the city of brotherly love to attend the Phenom People annual user conference. The location was the Hilton at Penn’s Landing on the banks of the Delaware, a great spot near Independence Hall with plenty of water views.
Day 1 for me was Analyst day where myself and a few other analysts and influencers like Ryan Leary, Josh Bersin and Jason Cerreto from Gartner got to hear firsthand the changes happening at this recruiting software provider which is on the rise in more ways than one.
The company announced a brand new moniker called TXM which stands for Talent Experience Management that comprises 4 core pieces of the new platform. You may have just known Phenom as a career site provider but now they are much more than that.
In a nutshell, they now offer modern career sites, talent analytics, chatbots, internal mobility, a real time CRM, and easy to use content management system for landing pages and even blogging. They break down the product into 4 categories.
CX – Candidate Experience – Career Site/Chatbot/CMS
RX – Recruiter Experience – CRM/Campaigns/SMS/AI Insights
MX – Management Experience – Analytics/Dashboard/Reporting
EX – Employee Experience – Internal Mobility/Referrals
You can listen to some of their product people describe the use cases in the audio below.
CEO Mahe Bayireddi added that companies today aren’t thinking that they are a powerful network…but their people have tribes…TXM is their solution to bringing this network to life inside the organization.
Analyst Day Notes
- Company began as iMomentus back in 2011 (mobile career sites)
- Employers thought they were just an addon
- 2014 TRM talent relationship mktg changed name to PP
- 2019 Talent Experience Management platform
- Switching to an “experience” message…timing is right
- Josh Bersin thinks there aren’t many vendors addressing the experience for talent need among platforms
- 215 hires in 2018—475 overall
- 100% growth rate (revenue and people)
- Opening more offices globally
- 40 person UX team between Israel and India
- 200 customers
- They are training their customers with certified courses on things like content marketing—key for adoption
- 10k employees or above –ideal client–they are not going down market
- Chatbot: 5 use cases, 15% of all traffic going to the bot on their career sites…apply (upload resume…screening, scheduling, candidate faq)
- Competitors: Jobvite trying to buy there way into what Phenom does, Eightfold (just got 28 million)
- SMS new product—1-1 text, Mass Text, text for info
- AI is baked into the platform.
- 1 million jobs filled each year on the PP platform
Campus Event reg online/off…sms codes…bots: personalize the experience for returning candidates. 40% increase in lead creation with the bot. So if they were getting 20 apps this will lead to 8 more for 28 total.
Bersin thinks career pathing is a big hole in HRtech right now. (internal mobility). Phenom has a shot at capturing this market too.
- 41% of all job seekers on PP are on mobile (200 clients)
- Avg page views are 3.3 for career sites across PP
- Chatbot captures 30-40% more leads
- Chat bot for screening/scheduling—used mainly for high volume reqs.
- 20% apply rates across all PP clients
- 46 secs avg view time on mobile job description pages
- Some clients getting 50% open rate on recruitment emails
- Best conversion rates are applies that take 5 min or less to complete..
- Phillips is one of their clients that do content blogging well.
The Phenom team and especially Jonathan Dale (Marketing) treated us to a fantastic dinner aboard the ship Moshulu docked next to the hotel on night one, while inviting all attendees to a night at Dave & Busters on night two.
They had a lot of great speakers at the event…many of them clients, featuring TA execs from Southwest, Life Time and Hilton. They also brought in some non recruiting speakers to inspire the crowd as well on topics like happiness and AI.
It was great to reconnect with conference friends such as Roy Maur (SHRM), Martin Burns and Doug Kerken (Hireclix) while meeting new friends like Derek Murphy from Kindercare and Jen from Garmin.
Side note: try the virtual reality ride at D&B, worth the 6 bucks.