Magneta global recruiting and talent management company headquartered in San Francisco, formed through several acquisitions over the years, unveiled a latest, integrated AI-powered workforce management platform and assistant for hiring managers, she is called “Maggi” (pronounced like “Maggie”), which he says is First the only solution of its kind in the workforce management industry.
The goal is to enable hiring managers at other staffing firms and at client firms to access data, sourcing and HR management tools through a single interface — ultimately making it faster and easier to hire people, mostly for seasonal and temporary positions, than before.
“We wanted to bring technology and automation to help simplify the complexity and management of contingent workers,” explained Magnit’s chief product and marketing officer, Vidhya Srinivasan, a former chief marketing officer at ServiceNow and senior vp of supply chain management platform Blue Yonder.
“Whether it’s hiring managers or talent providers, they’re all used to a very manual way of operating technology,” she added. But Magnit’s goal is to help introduce them to the era of generative AI with an assistant that — yes, lives in a chatbot window — but that Srinivasan says is much greater than your average co-pilot or large language model (LLM)-based chat interface.
A spotlight on automation and intelligence underpins Magnit’s approach to minimising inefficiencies and improving outcomes.
Key Features of the New AI-Based Magnit Platform
According to Srinivasan, the core intelligence behind Maggi and Magnit’s Integrated Workforce Management (IWM) platform is OpenAI’s GPT-4.
“It’s connected to our datasets, which include customer data, public sources, and select industry data,” the CPO/CMO told VentureBeat a few days ago.
The updated Magnit IWM platform is built on “three pillars,” Srinivasan said: “executing daily tasks, informing with proactive and reactive alerts, and planning.”
First, a few implementation considerations: With Magnit’s latest software platform, hiring managers, vendors, and employees will give you the chance to work together in the same system, allowing them to share talent data that aligns with job descriptions without creating silos.
It enables businesses to acquire and manage talent across sectors, including blue-collar, white-collar, expert and unskilled, and mixed staffing needs – all through a single platform.
When it comes to “proactive alerts and planning,” Magnit offers notifications about updates on local laws and regulations.
“If there are new labor laws in the country where you are hiring temporary workers, Maddie can inform you about them reactively or proactively,” Srinivasan said.
The latest “action system” automates workflows related to recruiting, onboarding, payroll, compliance, and more.
Meanwhile, when it comes to planning, users can leverage Magnit’s extensive “ocean of data” and AI/ML capabilities, and consider customer goals to find a way to achieve them.
“If a client wants to launch a new program in a new geographic region or expand an existing program to a new country, Maggi can create a plan template,” Srinivasan explained.
When it comes to analytics, Magnit says its system offers clients in-depth, data-driven evaluation of pay rates, market trends and candidate profiles, ensuring cost savings and greater competitiveness.
“Maggi will pull market rates, look at customer data and deliver what the recruiter needs, whether that’s pulling from a talent pool or specific job descriptions. You don’t have to fill out 40 fields—Maggi will take care of that,” Srinivasan added.
Focused on results
The AI-powered platform goals to deliver measurable results quickly.
It also provides a compliance framework, reducing the risks associated with payroll and hiring errors.
Finally, it enables businesses to increase access to talented staff by leveraging a wide selection of talent channels.
“Our approach is to solve specific pain points in the onboarding process. If Maggi doesn’t improve the day-to-day experience, people won’t use it. It’s about improving trust and stickiness on the platform,” Srinivasan said.
As for pricing and availability, Srinivasan told VentureBeat that the company is offering its AI platform and Maggi through an “early adopter program” and that it is trying to “determine if there is a base model and an expanded model that we should offer.”
Currently, the AI platform and Maggi are linked to Magnit’s current integrated workforce management platform.
Where did Magnit come from?
Magnit, formerly generally known as PRO Unlimited, is a 33-year-old company that renamed in 2022 after the takeover by EQT Private Capital.
According to a press release announcing the acquisition, the company was founded to “help large companies manage their contingent workforces to better attract specialized talent seeking more flexible work solutions.”
It also took over a rival company Workforce Logiq in 2021 and “data science and development teams.”