The News
Paychex recently launched Paychex Recruiting Copilot, an AI-assisted recruiting tool for small- and medium-sized businesses (SMBs) and HR professionals. In partnership with Findem, Paychex Recruiting Copilot allows customers to quickly find appropriate talent instead of relying solely on passive recruiting methods.
Paychex Recruiting Copilot analyzes potential employees through a natural-language search engine to produce a list of qualified individuals for open positions. It identifies those candidates based on hiring requirements, job descriptions, and filters such as job title, location, skills, experience and industries.
Based in Redwood City, Calif., Findem seeks to improve recruiting outcomes by enhancing the data employers use in their search for candidates. The company maintains a data lake of people and company data, that it combines with AI-based capabilities to automate and consolidate top-of-funnel activities. Among other things, the platform combines sourcing, CRM and analytics in one place. Paychex Recruiting Copilot represents the company’s first foray into developing a solution that brings enterprise-level capabilities to the SMB market.
Paychex Recruiting Copilot augments the recruiting, applicant tracking, hiring and onboarding solutions already available through Paychex Flex. These include Paychex Flex Hiring, a recruiting-to-onboarding ATS that allows data to automatically flow into Paychex Flex for payroll and HR purposes. Also available are integrations with job boards and outsourced recruiting and staffing solutions.
This strategic approach gives the company a leg up in a growing market. Teshnavio estimates the market for SMB solutions will grow by nearly $58 billion between 2022 and 2027, a CAGR of 7.4%, driven primarily by cloud adoption.
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