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What is Phenom People's competitive advantage and what are the market mechanics that would prove or disprove that advantage?
Hello! Thank you for your request to determine Phenom People's competitive advantage, as well as the mechanics that would prove or disprove this advantage. The most useful sources in answering this request were reports by The Talent Board and Market Wired. The short version is that Phenom People's competitive advantage comes from: A non-reliance on third party solutions, Partnering with class leading companies to further their capabilities, Constantly evolving their solutions and business processes and Providing a customized user experience and approach.
METHODOLOGY
My colleague and I have scoured the Internet for articles, papers and statistics related to this subject.
Market reports were consulted in order to understand what sets Phenom People apart from their industry competitors.
Please find below a summary of the findings of this research.
FINDINGS
Where Phenom People's competitors rely mostly on cloud solutions provided by third party services, Phenom People develop and evolve their own tailor made solution. This platform, Phenom People Talent Relationship Marketing (TRM), leverages reach, behavior, and engagement data from every candidate touch point including social networks, job boards, web searches, and talent hubs.
Every Phenom People customer creates a unique enterprise talent graph for the positions they are looking to fill. As more data is collected, the Phenom predictive intelligence engine becomes more precise, delivering more relevant candidate matches, thus enabling the Phenom TRM Platform to deliver the greatest value on an ongoing basis.
Recently Phenom People has become a silver level partner in the Oracle PartnerNetwork.
"With its Silver status, Phenom People receives the ability to develop, sell and implement Oracle's 1-Click product portfolio, allowing them to increase competitive positioning and profitability with midsize companies. In addition, Phenom People receives the benefit of being able to leverage the OPN Portal tools and resources and experts within the Oracle Partner Business Center to increase their market knowledge, along with the ability to maximize customer sales and retention with Oracle."
An article on Yahoo Finance highlights the competitive advantage of Phenom People:
"Throughout 2016, Phenom People welcomed many new, high-profile clients eager to leverage the Phenom People TRM Cloud, its advanced platform to help provide candidates with a better experience in their job search and application process, while enabling recruiters and talent acquisition professionals to be more productive in their candidate searches. New clients added in 2016 include The Hershey Company, AMN Healthcare, IPG Media, General Motors, Delaware North and Mitchell Martin."
Key in attracting these new, high-profile, clients is the fact that Phenom People are constantly improving on their platform and business. Notably, the addition of three key features during the course of 2016:
• "Career Site Builder: This feature enables employers to easily edit their career sites and add new pages and drag-and-drop text, images and videos. As a result, companies can better highlight their unique employer brands, helping to attract right-fit candidates."
• "Real-time CRM Mobile App: With this new mobile app, recruiters can view candidates and communicate with them directly from their mobile devices to drive the recruiting process forward, anywhere and at any time."
• "Phenom Profile Clipper: Through this browser extension, users can easily 'clip' profiles directly into the Phenom People Real-time CRM, bringing additional efficiency to how they find and advance the best talent."
Another key factor to success is the appointment of Jeff Carey as vice president of International Business & Partnerships. Leveraging an extensive background in business development for companies including Kenexa and IBM, Carey is responsible for developing and executing Phenom People's international sales and partnership strategies.
Phenom People uses traditional fingerprinting and IP tools in order to understand who that person is and collect data on them. It then builds an interest graph of sorts for that person, customizing the page for a company’s application site on the spot.
In an interview with CEO Mahe Bayireddi he states that the company's focus is to collect huge amounts of data to understand customer intent - “So every time they come back we give a unique experience based on previous behavior, intent and persona. It’s all so we can give them a unique employment value proposition based on what they’re looking for.”
In August 2016, Phenom People announced their partnership with iCIMS - "A suite of talent acquisition tools that enables organizations to attract, screen, and hire the best talent for their ever-changing business needs."
"The partnership offers a seamless transfer of application data from the Phenom People TRM Cloud Platform into the iCIMS Talent Platform, where recruiters can manage the hiring process from start to finish, all within a single, cloud-based application."
CONCLUSION
To wrap it up, Phenom People's competitive advantage comes from: A non-reliance on third party solutions, Partnering with class leading companies to further their capabilities, Constantly evolving their solutions and business processes and Providing a customized user experience and approach.
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