Joonko performs two primary functions: first, it identifies candidates that meet the D&I thresholds and have been pre-qualified by other companies and second, it matches those candidates with available job opportunities from companies participating in Joonko’s candidate Pool. “Currently, Joonko correctly identifies D&I candidates through its AI more than 86 percent of the time and the percentage continues to improve as it completes additional machine-learning cycles,” says Ilit Raz, the founder & CEO of Joonko. She further explains how the system works:
• Seamless integration– A quick one-time integration to any applicant tracking system is all it takes to get started.
• Automated contribution– Joonko’s powerful NLP engine scans the system and automatically pulls open positions as well as the company’s recently dispositioned candidates.
• Quality check– Through a statistical analysis of multiple data points, every candidate funnelled to Joonko’s talent pool has been identified as diverse as well as qualified by at least two steps of a hiring process.
• Opt-in– Recently dispositioned candidates are given the opportunity to opt-in to our job matching network completely free of charge.
• Match-maker– Candidates in the pool who are qualified for your open roles will receive weekly emails promoting your positions and suggesting they apply.
One of the key features that grow the size of Joonko’s candidate pool is a company’s requirement for talent. To get access to potential candidates in the pool, they must also contribute qualified candidates to the Pool. This peer-to-peer approach has been welcomed by over 80 companies using Joonko’s solution as the candidate pool is populated by qualified candidates from other credible companies. As a result, Joonko’s diversity candidate pool has a greater depth of qualified candidates when compared to online job boards or traditional external recruiting that caters to volume, not quality. Also, this arrangement eliminates supply costs associated with finding new candidates and creates a natural inventory balance as the pool supply and demand grows as companies are added.
Joonko correctly identifies D&I candidates through its AI more than 86 percent of the time and the percentage continues to improve as it completes additional machine-learning cycles
What differentiates Joonko is that it’s system sources candidates directly from participating companies’ ATS which have been qualified through the completion of at least an interview with the source company and are actively seeking new employment opportunities. With Joonko’s opt-in process, every candidate has agreed to participate, so candidates are prepared and happy to be contacted by hiring managers. “Unlike other products in the market, Joonko is the only one that is providing active, qualified and properly matched candidates—currently holding the biggest pool for pre-qualified diverse candidates in the US. This saves companies time, money and makes their goal of recruiting a diverse workforce more attainable,” mentions Raz.
Having carved a unique niche, Joonko will be building industry-base and cross-industry benchmarks and metrics, and also introduce the JoonkoDiversity Score to market in the near future. In addition to constantly streaming candidates to companies’ ATSs, Joonko would be able to identify unconscious bias in recruitment processes/specific jobs. When such an event is detected, it sends out real-time alerts to the recruiting staff, with actionable recommendations, so they can overcome these inefficiencies immediately.
It's Not a Pipeline Issue: Joonko Raises $2.4M in Seed Round, Led by Alabama Futures Fund
BIRMINGHAM, Alabama: Joonko Diversity, Inc. (www.Joonko.com) announced it has secured $2.4M in a seed round led by the Alabama Futures Fund.
Founded in 2016, Joonko allows organizations to effortlessly make intentional improvements toward achieving diversity, inclusion and belonging. Joonko provides recruiters in any organization an automatic tool to help them objectively, and passively, source the most qualified applicants among diverse candidates, enabling talent acquisition teams to tap into new active candidate sources, reducing the hiring cycle by 17%.
Joonko's unique and transparent dashboard-free engine is already matching 100+ hires every month. Joonko syncs seamlessly with an organization's Applicant Tracking System, automatically connecting it to the largest pool in the US of over 12,000 active, qualified, and diverse candidates.
"Joonko's core ability lies in making diversity and inclusion hiring accessible and validated," says Ilit Raz, Founder and CEO. "We're happy to spearhead the D&I corporate revolution, enriching every recruitment manager's pipeline with qualified diversity candidates. Our solution lets decision-makers create a better environment and a sustainably more diverse workforce, encouraging more under-represented workers to leadership roles."
The company, will use funding to scale marketing and customer acquisition efforts to help companies improve their ability to source and qualify a diverse pool of job candidates in North America and is already trusted by companies such as Adidas, PayPal, Intuit and more.