‭Investor Day - Simplify Hiring‬‭Raj Mukherjee‬‭- Indeed Product Highlight - Employer:‬‭Make hiring simpler, faster and more human‬‭March 27, 2024‬‭Slide 1-5-1‬‭ aj:‬‭Good‬‭morning,‬‭everyone.‬‭I'm‬‭Raj‬‭Mukherjee,‬‭and‬‭I‬‭lead‬‭employer-facing‬‭products‬‭at‬‭Indeed.‬‭I’m‬‭thrilled‬R‭to‬ ‭be‬ ‭here‬ ‭with‬ ‭you‬‭today.‬‭I've‬‭been‬‭with‬‭Indeed‬‭for‬‭over‬‭7‬‭years‬‭and‬‭am‬‭more‬‭excited‬‭than‬‭ever‬‭about‬‭our‬‭future.‬‭On‬‭a‬‭personal‬‭level,‬‭it's‬‭always‬‭so‬‭rewarding‬‭whenever‬‭people‬‭thank‬‭me‬‭for‬‭helping‬‭them‬‭find‬‭a‬‭job‬‭when‬‭they‬f‭ind out I work at Indeed.‬‭Slide 1-5-2‬‭That’s why I’m here - to help hundreds of millions of people globally find their dream career opportunities.‬‭Slide 1-5-3‬‭ hris‬‭mentioned‬‭Indeed’s‬‭founding‬‭principles‬‭earlier.‬‭Maggie‬‭explained‬‭how‬‭putting‬‭job‬‭seekers‬‭first‬‭makes‬‭us‬C‭the‬‭leading‬‭place‬‭to‬‭find‬‭and‬‭get‬‭jobs.‬‭Everything‬‭I‬‭will‬‭talk‬‭about‬‭ties‬‭to‬‭our‬‭foundational‬‭principle‬‭of‬‭pay‬‭for‬‭performance and how we deliver value to employers.‬‭Slide 1-5-4‬‭And‬‭to‬‭do‬‭so,‬‭we’re‬‭building‬‭solutions‬‭to‬‭simplify‬‭each‬‭step‬‭of‬‭the‬‭hiring‬‭process,‬‭from‬‭posting‬‭a‬‭job‬‭through‬‭ aking a hire.‬m‭Slide 1-5-5‬‭ iring‬‭is‬‭challenging:‬‭it‬‭can‬‭be‬‭complex,‬‭slow,‬‭and‬‭impersonal.‬‭The‬‭average‬‭HR‬‭team‬‭uses‬‭over‬‭16‬‭different‬H‭systems,‬‭most‬‭of‬‭which‬‭don’t‬‭work‬‭with‬‭one‬‭another.‬‭As‬‭Deko‬‭mentioned‬‭earlier,‬‭it‬‭takes‬‭companies‬‭more‬‭than‬‭50 days on average to fill an open position. 78% of job seekers say they haven’t shown up for an interview.‬‭Slide 1-5-6‬‭ t‬‭Indeed,‬‭we’re‬‭here‬‭to‬‭make‬‭hiring‬‭simpler,‬‭faster,‬‭and‬‭more‬‭human.‬‭We‬‭make‬‭it‬‭simpler‬‭to‬‭post‬‭jobs,‬‭source‬A‭candidates,‬ ‭automate‬ ‭repetitive‬ ‭tasks,‬ ‭and‬ ‭enable‬ ‭meaningful‬ ‭human‬ ‭conversations,‬ ‭dramatically‬ ‭reducing‬‭time-to-hire.‬‭That’s‬‭why‬‭Indeed‬‭has‬‭become‬‭the‬‭hiring‬‭partner‬‭of‬‭choice‬‭for‬‭employers‬‭of‬‭all‬‭sizes,‬‭from‬‭start-ups‬‭to‬‭global‬‭ orporations.‬c‭And we know we can help millions more employers.‬‭Slide 1-5-7‬‭Our vision is to become the primary hiring partner for every employer worldwide.‬‭Slide 1-5-8‬‭To achieve this vision, our strategy hinges on three key pillars - the same as what Maggie shared earlier:‬‭This transcript is provided for the convenience of investors only.‬‭1‬‭Let’s‬‭start‬‭with‬‭how‬‭we‬‭are‬‭Expanding‬‭Reach‬‭to‬‭all‬‭employers‬‭globally,‬‭across‬‭SMBs‬‭and‬‭Large‬‭Enterprises,‬‭ nd growing supply for all types of jobs‬a‭Slide 1-5-9‬‭As‬ ‭a‬ ‭thriving‬ ‭2-sided‬ ‭marketplace,‬ ‭we‬ ‭engage‬ ‭hundreds‬ ‭of‬ ‭millions‬ ‭of‬ ‭job‬ ‭seekers‬‭and‬‭employers‬‭monthly.‬‭ ore than 3.5 million employers worldwide turn to Indeed’s marketplace to help them hire.‬
M‭Slide 1-5-10‬‭Let’s take a brief moment to understand the impact we have had on hiring.‬‭One‬ ‭of‬ ‭the‬ ‭big‬ ‭reasons‬ ‭employers‬ ‭come‬‭to‬‭Indeed‬‭is‬‭because‬‭we‬‭deliver‬‭over‬‭3‬‭times‬‭more‬‭hires‬‭than‬‭any‬‭ ther job site. In fact, more people get hired on Indeed than on all other job sites combined.‬o‭Slide 1-5-11‬‭Our‬‭ability‬‭to‬‭solve‬‭employer‬‭problems‬‭has‬‭made‬‭us‬‭the‬‭brand‬‭leader‬‭in‬‭unaided‬‭consideration‬‭among‬‭SMBs‬‭ cross the globe.‬a‭Our brand recognition with employers mirrors that with job seekers worldwide.‬‭Slide 1-5-12‬‭ e‬‭help‬‭small‬‭businesses‬‭like‬‭Get‬‭Up‬‭and‬‭Go‬‭Kayaking‬‭scale.‬‭They‬‭were‬‭looking‬‭to‬‭grow‬‭fast,‬‭and‬‭we‬‭helped‬W‭them‬ ‭do‬ ‭just‬ ‭that‬ ‭-‬ ‭contributing‬ ‭to‬‭over‬‭95%‬‭of‬‭their‬‭hires.‬‭As‬‭Justin,‬‭the‬‭owner,‬‭explained,‬‭Indeed‬‭provided‬‭more qualified candidates than any other job site - helping them scale their business quickly.‬‭Slide 1-5-13‬‭ e‬‭also‬‭lead‬‭in‬‭unaided‬‭consideration‬‭with‬‭large‬‭enterprises,‬‭with‬‭90%‬‭of‬‭Fortune‬‭500‬‭companies‬‭using‬‭our‬W‭platform‬ ‭to‬ ‭help‬ ‭them‬ ‭hire.‬ ‭This‬ ‭broad‬‭reach‬‭is‬‭a‬‭testament‬‭to‬‭our‬‭brand’s‬‭strength‬‭and‬‭the‬‭trust‬‭employers‬‭place in us.‬
‭As‬‭we‬‭continue‬‭to‬‭build‬‭solutions‬‭that‬‭make‬‭it‬‭faster‬‭and‬‭easier‬‭to‬‭hire‬‭quality‬‭candidates,‬‭we‬‭will‬‭continue‬‭to‬i‭ncrease our value, allowing us to expand our wallet share.‬‭We‬ ‭know‬ ‭employers,‬ ‭especially‬ ‭large‬ ‭employers,‬ ‭have‬ ‭many‬ ‭systems‬ ‭involved‬ ‭in‬ ‭hiring‬ ‭and‬ ‭people‬‭ anagement.‬m‭Slide 1-5-14‬‭ s‬ ‭ecosystem‬ ‭enablers,‬ ‭we‬ ‭collaborate‬ ‭with‬ ‭ATS‬ ‭partners‬ ‭to‬ ‭help‬ ‭large‬‭enterprises‬‭connect‬‭essential‬‭tools‬A‭and‬‭optimize‬‭their‬‭investments‬‭in‬‭HR‬‭Information‬‭Systems.‬‭We‬‭believe‬‭employers‬‭will‬‭get‬‭better‬‭matching‬‭and‬‭hiring‬ ‭results‬‭when‬‭data‬‭flows‬‭smoothly‬‭between‬‭their‬‭ATS‬‭and‬‭Indeed.‬‭It’s‬‭a‬‭win-win-win‬‭for‬‭employers,‬‭the‬‭ATSs, and Indeed.‬‭Slide 1-5-15‬‭ ere’s‬‭an‬‭example‬‭of‬‭how‬‭our‬‭solutions‬‭benefit‬‭large‬‭enterprises.‬‭TruGreen,‬‭the‬‭largest‬‭lawn‬‭care‬‭company‬‭in‬H‭the‬‭US‬‭with‬‭thousands‬‭of‬‭employees,‬‭turned‬‭to‬‭Indeed‬‭for‬‭candidate‬‭volume,‬‭tapping‬‭the‬‭millions‬‭of‬‭active‬‭job‬‭seekers‬‭on‬‭the‬‭site‬‭daily.‬‭By‬‭leveraging‬‭Indeed‬‭Apply‬‭and‬‭integrating‬‭its‬‭ATS‬‭with‬‭Indeed,‬‭TruGreen‬‭reduced‬‭candidate drop-off by 85% and accelerated time to interview by up to 95%.‬‭TruGreen‬‭and‬‭Get‬‭Up‬‭and‬‭Go‬‭Kayaking‬‭are‬‭just‬‭two‬‭of‬‭many‬‭companies‬‭we‬‭have‬‭helped‬‭grow,‬‭and‬‭we‬‭know‬‭ e can help millions more.‬w‭This transcript is provided for the convenience of investors only.‬‭2‬‭Slide 1-5-16‬‭The‬ ‭next‬ ‭pillar‬ ‭of‬ ‭our‬ ‭strategy‬ ‭is‬ ‭Best‬‭Matching,‬‭which‬‭uses‬‭our‬‭extensive‬‭job‬‭seeker‬‭and‬‭employer‬‭data‬‭to‬‭ eliver AI-driven recommendations.‬d‭We believe the scale of employers and job seekers on Indeed is a key competitive advantage.‬‭ he‬‭data‬‭we‬‭collect‬‭from‬‭employer‬‭and‬‭job‬‭seeker‬‭interactions‬‭on‬‭Indeed‬‭enhances‬‭our‬‭matching‬‭algorithms,‬
T‭ultimately‬‭leading‬‭to‬‭more‬‭successful‬‭hires‬‭and‬‭reinforcing‬‭our‬‭competitive‬‭edge.‬‭I’ll‬‭walk‬‭you‬‭through‬‭ways‬‭we‬‭collect and leverage this data to power our AI matching engine and how that translates into employer value.‬‭ e‬ ‭first‬ ‭introduced‬ ‭Job‬ ‭Posting‬ ‭in‬ ‭2011‬ ‭followed‬ ‭by‬ ‭the‬ ‭introduction‬ ‭of‬ ‭our‬ ‭free-to-post‬ ‭product‬ ‭in‬ ‭2015,‬
W‭allowing‬ ‭employers‬ ‭to‬ ‭post‬ ‭their‬ ‭jobs‬ ‭directly‬ ‭on‬ ‭Indeed.‬ ‭Job‬ ‭postings‬ ‭have‬ ‭driven‬ ‭business‬ ‭growth‬ ‭and‬‭employer engagement.‬‭Let's see how easy it is for Roberta, a recruiter for a small hospital in Austin, Texas, to post a job on Indeed.‬‭Slide 1-5-17‬‭ oberta‬‭is‬‭seeking‬‭a‬‭Registered‬‭Nurse.‬‭In‬‭just‬‭a‬‭few‬‭clicks,‬‭she‬‭can‬‭add‬‭common‬‭occupation-specific‬‭details‬
R‭that‬‭job‬‭seekers‬‭want‬‭to‬‭see.‬‭Market-based‬‭suggestions‬‭help‬‭her‬‭understand‬‭what‬‭pay‬‭and‬‭benefits‬‭will‬‭be‬‭fair‬‭and‬‭competitive.‬‭Within‬‭seconds‬‭she‬‭can‬‭generate‬‭-‬‭and‬‭edit‬‭-‬‭an‬‭AI-recommended‬‭job‬‭description‬‭optimized‬‭to‬ ‭attract‬ ‭the‬ ‭best‬ ‭candidates.‬ ‭She‬ ‭can‬ ‭also‬ ‭specify‬ ‭must-haves,‬ ‭like‬ ‭an‬ ‭RN‬ ‭license,‬ ‭so‬ ‭she‬‭can‬‭only‬‭gets‬‭candidates that qualify. Once the job is ready, Roberta can start calibrating matches.‬‭ hen‬‭she‬‭sponsors‬‭the‬‭job,‬‭she‬‭can‬‭see‬‭active‬‭candidates‬‭with‬‭resumes‬‭on‬‭Indeed‬‭who‬‭match‬‭that‬‭job,‬‭and‬W‭start‬‭inviting‬‭them‬‭to‬‭connect‬‭right‬‭away.‬‭With‬‭the‬‭help‬‭of‬‭Generative‬‭AI,‬‭she‬‭can‬‭tailor‬‭her‬‭messages‬‭so‬‭job‬‭seekers‬ ‭will‬ ‭receive‬ ‭the‬ ‭personalized‬ ‭invitation‬ ‭they‬ ‭expect.‬ ‭On‬ ‭Indeed,‬ ‭Roberta‬ ‭can‬ ‭get‬ ‭connected‬ ‭with‬‭qualified candidates in a matter of hours - versus the days it could take elsewhere.‬‭Slide 1-5-18‬‭ ith‬ ‭over‬ ‭3.5‬ ‭million‬ ‭employers‬ ‭and‬ ‭30‬ ‭million‬ ‭jobs‬ ‭on‬ ‭our‬ ‭platform,‬ ‭combined‬ ‭with‬ ‭the‬‭350‬‭million‬‭unique‬W‭visitors,‬ ‭we‬ ‭have‬ ‭a‬ ‭thriving‬ ‭ecosystem‬ ‭with‬ ‭incredibly‬ ‭robust‬ ‭data‬ ‭for‬ ‭matching,‬ ‭ultimately‬ ‭accelerating‬‭meaningful connections between job seekers and employers.‬‭Slide 1-5-19‬‭ igh-quality‬ ‭jobs‬ ‭really‬ ‭matter‬ ‭to‬ ‭attract‬ ‭the‬ ‭right‬ ‭job‬ ‭seekers‬ ‭and‬ ‭drive‬ ‭significantly‬ ‭more‬‭applications.‬‭We‬
H‭have‬ ‭been‬ ‭adding‬ ‭these‬ ‭critical‬ ‭attributes‬ ‭to‬ ‭the‬ ‭majority‬ ‭of‬ ‭jobs‬ ‭on‬ ‭Indeed,‬ ‭especially‬ ‭hosted‬ ‭jobs.‬ ‭For‬‭example, we have doubled compensation information for US hosted jobs over the past 5 years.‬‭Slide 1-5-20‬‭ ow‬ ‭about‬ ‭indexed‬ ‭jobs‬ ‭posted‬ ‭to‬ ‭Indeed‬ ‭from‬ ‭an‬ ‭ATS?‬ ‭As‬ ‭Chris‬ ‭mentioned,‬ ‭expanding‬ ‭the‬ ‭adoption‬ ‭of‬H
‭Indeed‬ ‭Apply‬ ‭for‬ ‭Indexed‬ ‭jobs‬ ‭has‬ ‭been‬ ‭key‬ ‭to‬ ‭our‬ ‭marketplace‬ ‭transformation,‬ ‭and‬ ‭employers‬ ‭benefit‬ ‭by‬‭seeing more started applications per job.‬‭Slide 1-5-21‬‭ nother‬ ‭ingredient‬‭to‬‭better‬‭matching‬‭is‬‭screener‬‭questions,‬‭which‬‭help‬‭employers‬‭focus‬‭on‬‭candidates‬‭who‬A‭meet‬ ‭all‬ ‭their‬ ‭requirements.‬ ‭Indeed‬ ‭builds‬ ‭tailored‬ ‭screener‬ ‭questions‬ ‭into‬ ‭the‬ ‭job‬ ‭posting‬ ‭and‬ ‭application‬‭experiences.‬ ‭For‬ ‭example,‬‭for‬‭a‬‭registered‬‭nurse‬‭job,‬‭Indeed‬‭will‬‭confirm‬‭that‬‭job‬‭seekers‬‭have‬‭a‬‭registered‬‭nurse license before applying. Jobs with screener questions result in 50% more hires on average.‬‭This transcript is provided for the convenience of investors only.‬‭3‬‭Slide 1-5-22‬‭ s‬ ‭Maggie‬ ‭mentioned,‬ ‭we‬ ‭also‬ ‭offer‬ ‭Indeed‬ ‭Assessments‬ ‭to‬ ‭help‬ ‭employers‬‭reliably‬‭screen‬‭candidates‬‭for‬A‭over‬ ‭900‬ ‭skills.‬ ‭Millions‬ ‭of‬ ‭employers‬ ‭have‬ ‭used‬ ‭these‬ ‭assessments‬ ‭with‬ ‭strong‬ ‭results:‬ ‭jobs‬ ‭using‬‭Assessments hire 49% more often, and employers who use them hire 16% faster.‬‭Slide 1-5-23‬‭Being‬ ‭the‬ ‭best‬ ‭in‬ ‭matching‬ ‭also‬ ‭means‬ ‭providing‬ ‭employers‬ ‭with‬ ‭tools‬ ‭to‬ ‭proactively‬ ‭recruit‬ ‭the‬ ‭best‬‭ andidates among millions of active job seekers and encouraging qualified candidates to apply.‬c‭Indeed‬‭enables‬‭employers‬‭to‬‭automate‬‭as‬‭much‬‭of‬‭the‬‭sourcing‬‭process‬‭as‬‭they‬‭desire‬‭and‬‭flexes‬‭to‬‭support‬‭ ll types of roles, from high-volume to highly specialized.‬a‭Slide 1-5-24‬
I‭ndeed‬‭Resume‬‭Search‬‭allows‬‭employers‬‭to‬‭source‬‭from‬‭hundreds‬‭of‬‭millions‬‭of‬‭searchable‬‭resumes‬‭through‬‭a‬‭subscription‬‭pricing‬‭model.‬‭Employers‬‭type‬‭in‬‭a‬‭query,‬‭get‬‭search‬‭results,‬‭and‬‭then‬‭reach‬‭out‬‭to‬‭candidates.‬‭As‬ ‭Maggie‬ ‭noted,‬ ‭job‬ ‭seekers‬ ‭who‬ ‭receive‬ ‭an‬ ‭outreach‬ ‭from‬ ‭Resume‬ ‭Search‬ ‭are‬ ‭2‬ ‭times‬ ‭more‬ ‭likely‬ ‭to‬‭connect with an employer than those who applied on their own.‬‭Slide 1-5-25‬‭ o‬ ‭save‬ ‭employers‬ ‭time,‬ ‭Indeed‬ ‭introduced‬ ‭AI-driven‬ ‭Matched‬ ‭Candidates‬ ‭in‬ ‭2021‬ ‭as‬ ‭a‬ ‭separate‬ ‭feature,‬T‭available‬ ‭only‬ ‭to‬ ‭paid‬ ‭Hosted‬ ‭Jobs.‬ ‭With‬ ‭Matched‬ ‭Candidates,‬ ‭there’s‬ ‭no‬ ‭need‬‭to‬‭search.‬‭Indeed‬‭finds‬‭the‬‭best candidates based on qualifications and responsiveness.‬‭ mployers‬ ‭can‬ ‭easily‬ ‭invite‬ ‭Matched‬ ‭Candidates‬ ‭to‬ ‭apply‬ ‭for‬ ‭their‬ ‭roles.‬ ‭And‬ ‭when‬ ‭invited,‬ ‭matched‬E‭candidates‬‭are‬‭17‬‭times‬‭more‬‭likely‬‭to‬‭apply‬‭-‬‭you‬‭heard‬‭me‬‭right,‬‭17‬‭times‬‭more‬‭likely‬‭to‬‭apply‬‭-‬‭than‬‭if‬‭they‬‭just‬‭found‬‭the‬‭job‬‭on‬‭their‬‭own.‬‭And‬‭now‬‭we‬‭are‬‭rolling‬‭out‬‭Matched‬‭Candidates‬‭to‬‭all‬‭paid‬‭hosted‬‭and‬‭indexed‬‭jobs.‬‭Resume‬ ‭Search‬ ‭and‬ ‭Matched‬ ‭Candidate‬ ‭Recommendations‬ ‭are‬ ‭very‬‭effective‬‭individually.‬‭We‬‭believe‬‭they‬‭ ill be even better together.‬w‭Slide 1-5-26‬‭We’ve‬ ‭combined‬ ‭them‬ ‭into‬ ‭a‬ ‭new‬ ‭product‬‭called‬‭Smart‬‭Sourcing,‬‭which‬‭weaves‬‭both‬‭features‬‭together‬‭and‬‭ llows employers to build a holistic talent pipeline with seamless search and recommendations.‬a‭Slide 1-5-27‬‭ ith‬‭Smart‬‭Sourcing,‬‭we’re‬‭using‬‭Generative‬‭AI‬‭in‬‭powerful‬‭ways‬‭to‬‭help‬‭employers‬‭evaluate‬‭candidates‬‭and‬W‭reduce‬‭time‬‭to‬‭source‬‭significantly.‬‭Candidate‬‭highlights‬‭provide‬‭an‬‭AI-generated‬‭summary‬‭to‬‭help‬‭employers‬‭easily‬‭determine‬‭whether‬‭candidates‬‭are‬‭a‬‭good‬‭fit‬‭for‬‭their‬‭role.‬‭For‬‭qualified‬‭candidates,‬‭employers‬‭can‬‭then‬‭use Smart Messages to quickly connect with AI-generated personalized outreach.‬‭ mart‬‭Sourcing‬‭also‬‭offers‬‭enterprise-grade‬‭capabilities‬‭like‬‭ATS‬‭integration‬‭and‬‭team‬‭collaboration,‬‭making‬‭it‬S‭attractive‬ ‭for‬ ‭larger‬ ‭companies.‬ ‭Smart‬ ‭Sourcing‬ ‭has‬ ‭been‬ ‭in‬ ‭beta‬ ‭and‬ ‭is‬ ‭set‬ ‭to‬ ‭launch‬ ‭in‬ ‭early‬ ‭April.‬ ‭The‬‭feedback‬‭is‬‭overwhelmingly‬‭positive!‬‭Early‬‭adopters‬‭are‬‭already‬‭raving‬‭about‬‭how‬‭quickly‬‭they're‬‭connecting‬‭with qualified candidates.‬‭Slide 1-5-28‬‭ e‬ ‭also‬ ‭offer‬ ‭Automated‬ ‭sourcing,‬ ‭a‬ ‭fully‬‭automated‬‭option‬‭only‬‭available‬‭for‬‭paid‬‭jobs.‬‭Launched‬‭in‬‭2019,‬
W‭Automated‬ ‭Sourcing‬ ‭revolutionizes‬ ‭recruitment‬ ‭by‬‭reaching‬‭out‬‭to‬‭job‬‭seekers‬‭whose‬‭skills‬‭and‬‭preferences‬‭align with an employer's needs.‬‭This transcript is provided for the convenience of investors only.‬‭4‬‭ ere’s‬ ‭an‬‭example‬‭of‬‭an‬‭automated‬‭sourcing‬‭outreach‬‭my‬‭daughter‬‭received‬‭as‬‭she‬‭is‬‭finishing‬‭high‬‭school‬H‭and‬ ‭is‬ ‭interested‬ ‭in‬ ‭part-time‬ ‭work.‬ ‭She‬ ‭excels‬ ‭at‬ ‭math‬ ‭-‬ ‭and‬ ‭her‬ ‭Indeed‬ ‭profile‬ ‭reflects‬ ‭this‬ ‭-‬ ‭so‬ ‭this‬‭recommended math tutor role is a great fit for her.‬‭Job‬‭seekers‬‭who‬‭receive‬‭automated‬‭sourcing‬‭outreach‬‭are‬‭2.5‬‭times‬‭more‬‭likely‬‭to‬‭apply‬‭to‬‭a‬‭job‬‭than‬‭those‬‭ ho only see it in search.‬w‭Slide 1-5-29‬‭ utomated‬ ‭sourcing‬ ‭is‬ ‭powered‬ ‭by‬ ‭the‬ ‭same‬ ‭internal‬ ‭matching‬ ‭engine‬ ‭that‬ ‭Maggie‬ ‭showed‬ ‭when‬ ‭she‬A‭discussed‬ ‭homepage‬ ‭recommendations.‬ ‭All‬ ‭the‬ ‭amazing‬ ‭data‬ ‭we‬ ‭collect‬ ‭from‬ ‭employers‬ ‭and‬ ‭job‬ ‭seekers‬‭powers these personalized outreaches.‬‭Slide 1-5-30‬‭We‬ ‭use‬ ‭advanced‬ ‭AI‬ ‭and‬ ‭ML‬ ‭to‬ ‭optimize‬ ‭these‬ ‭automated‬ ‭sourcing‬‭experiences,‬‭including‬‭proprietary‬‭and‬‭ pen-source tools. For example, we use generative AI to personalize automated sourcing outreaches.‬o‭Our‬ ‭first‬ ‭production‬ ‭version‬ ‭of‬ ‭genAI‬ ‭solutions‬ ‭for‬ ‭auto-sourcing‬ ‭has‬ ‭already‬ ‭yielded‬ ‭greater‬ ‭than‬ ‭20%‬i‭mprovements in started applications.‬‭Slide 1-5-31‬‭The‬ ‭final‬ ‭pillar‬ ‭is‬ ‭Faster‬ ‭Connections‬ ‭between‬ ‭employers‬ ‭and‬ ‭job‬ ‭seekers,‬ ‭using‬ ‭automation‬ ‭and‬ ‭AI‬ ‭to‬i‭ncrease responsiveness and reduce time to hire.‬‭Slide 1-5-32‬‭ peed‬‭to‬‭connection‬‭can‬‭make‬‭all‬‭the‬‭difference‬‭when‬‭competing‬‭for‬‭talent.‬‭Our‬‭data‬‭shows‬‭that‬‭candidates‬
S‭receiving‬‭an‬‭outreach‬‭within‬‭4‬‭hours‬‭of‬‭applying‬‭are‬‭95%‬‭more‬‭likely‬‭to‬‭lead‬‭to‬‭a‬‭hire‬‭than‬‭those‬‭receiving‬‭an‬‭outreach a week later.‬‭Slide 1-5-33‬‭To‬ ‭drive‬ ‭connections‬ ‭on‬ ‭Indeed‬‭we‬‭have‬‭added‬‭multiple‬‭modes‬‭of‬‭communication‬‭and‬‭used‬‭AI‬‭to‬‭speed‬‭up‬t‭he process for both employers and job seekers.‬‭Slide 1-5-34‬
I‭ndeed’s‬ ‭built-in‬ ‭Messaging‬ ‭feature‬ ‭makes‬ ‭it‬ ‭incredibly‬ ‭quick‬ ‭to‬ ‭connect‬ ‭on‬ ‭the‬ ‭Indeed‬ ‭platform.‬ ‭Since‬ ‭we‬‭launched‬ ‭Messaging‬ ‭in‬‭2019,‬‭there‬‭have‬‭been‬‭billions‬‭-‬‭yes,‬‭billions‬‭-‬‭of‬‭messages‬‭between‬‭employers‬‭and‬‭job‬ ‭seekers‬ ‭right‬ ‭on‬ ‭Indeed.‬ ‭Job‬ ‭Seekers‬ ‭typically‬ ‭reply‬ ‭within‬ ‭2‬ ‭hours‬‭when‬‭employers‬‭message‬‭them‬‭on‬‭Indeed, and with the introduction of a chat-based experience, it's gotten even faster this last year.‬‭Slide 1-5-35‬‭ o‬‭accelerate‬‭the‬‭time‬‭to‬‭interview,‬‭we‬‭introduced‬‭virtual‬‭interviews‬‭that‬‭can‬‭take‬‭place‬‭on‬‭Indeed‬‭a‬‭few‬‭years‬
T‭back‬‭and‬‭scaled‬‭it‬‭to‬‭over‬‭8‬‭million‬‭interviews‬‭last‬‭year.‬‭The‬‭benefit:‬‭Great‬‭candidate‬‭quality‬‭and‬‭44%‬‭faster‬‭hiring.‬‭I’m also excited to share two promising areas still early in the investment cycle related to faster connections.‬‭Slide 1-5-36‬‭ irst,‬‭we’re‬‭using‬‭automation‬‭to‬‭reduce‬‭the‬‭time‬‭between‬‭applying‬‭and‬‭getting‬‭a‬‭human-to-human‬‭connection.‬F‭An‬ ‭example‬ ‭of‬ ‭automation:‬ ‭employers‬ ‭can‬ ‭quickly‬ ‭send‬ ‭tailored‬ ‭messages‬ ‭to‬ ‭all‬‭qualified‬‭job‬‭seekers‬‭who‬‭meet‬ ‭screener‬ ‭questions,‬ ‭enabling‬ ‭them‬ ‭to‬ ‭move‬ ‭forward‬ ‭faster‬ ‭with‬ ‭the‬ ‭best-fit‬ ‭candidates.‬ ‭These‬‭This transcript is provided for the convenience of investors only.‬‭5‬‭automations‬ ‭are‬ ‭available‬ ‭only‬ ‭for‬ ‭paid‬ ‭jobs.‬ ‭We‬ ‭have‬ ‭seen‬ ‭a‬ ‭20X‬ ‭growth‬ ‭in‬ ‭the‬ ‭number‬ ‭of‬ ‭connections‬t‭hrough automation just this year alone.‬‭Slide 1-5-37‬‭ nother‬‭early‬‭success‬‭is‬‭a‬‭new,‬‭streamlined‬‭iOS‬‭app‬‭focused‬‭on‬‭fast‬‭connections‬‭and‬‭fostering‬‭a‬‭responsive‬A‭marketplace.‬ ‭The‬ ‭great‬ ‭news‬ ‭is‬ ‭that‬ ‭employers‬ ‭receiving‬ ‭app‬ ‭push‬ ‭notifications‬ ‭respond‬ ‭20%‬ ‭faster.‬‭Introduced‬‭last‬‭spring,‬‭monthly‬‭users‬‭have‬‭tripled‬‭in‬‭the‬‭first‬‭6‬‭months.‬‭We‬‭expect‬‭even‬‭more‬‭adoption‬‭when‬‭we add Smart Sourcing capabilities and an Android version this Spring.‬‭Slide 1-5-38‬‭So that’s our three-part strategy to help employers around the world.‬‭Slide 1-5-39‬‭As‬‭Maggie‬‭mentioned,‬‭by‬‭2030,‬‭we‬‭will‬‭help‬‭100M‬‭get‬‭jobs.‬‭Which‬‭means‬‭we’re‬‭helping‬‭employers‬‭grow‬‭by‬‭ iring 100M people.‬h‭All‬ ‭of‬ ‭these‬ ‭solutions‬ ‭are‬ ‭built‬ ‭with‬ ‭employers‬ ‭and‬ ‭job‬‭seekers‬‭in‬‭mind,‬‭as‬‭we‬‭work‬‭to‬‭make‬‭hiring‬‭simpler,‬f‭aster, and more human. This is what I'd like you to take away from this presentation.‬‭Slide 1-5-40‬‭We intend to be the primary hiring partner for all employers globally.‬‭We plan to do this by:‬
‭Building solutions powered by AI and automation to address employers’ hiring challenges.‬‭Matching employers with the best candidates in our active two-sided marketplace.‬‭And‬ ‭finally,‬ ‭leveraging‬ ‭the‬‭vast‬‭scale‬‭of‬‭our‬‭data‬‭to‬‭power‬‭our‬‭matching‬‭engine,‬‭leading‬‭to‬‭more‬‭meaningful‬‭ onnections between employers and job seekers.‬c‭Now, I’ll send it back to Chris to share more about our monetization opportunity.‬‭[END]‬‭Forward-Looking Statements‬‭ his‬‭document‬‭contains‬‭forward-looking‬‭statements,‬‭which‬‭reflect‬‭the‬‭Company's‬‭assumptions‬‭and‬‭outlook‬‭for‬T‭the‬ ‭future‬ ‭and‬ ‭estimates‬ ‭based‬ ‭on‬ ‭information‬ ‭available‬ ‭to‬ ‭the‬ ‭Company‬ ‭and‬ ‭the‬ ‭Company's‬ ‭plans‬ ‭and‬‭expectations‬ ‭as‬ ‭of‬ ‭the‬ ‭date‬ ‭of‬ ‭this‬ ‭document‬ ‭or‬ ‭other‬ ‭date‬ ‭indicated.‬ ‭There‬ ‭can‬ ‭be‬ ‭no‬ ‭assurance‬ ‭that‬‭the‬‭relevant forecasts and other forward-looking statements will be achieved.‬‭ lease‬ ‭note‬ ‭that‬ ‭significant‬ ‭differences‬ ‭between‬ ‭the‬ ‭forecasts‬ ‭and‬ ‭other‬ ‭forward-looking‬ ‭statements‬ ‭and‬P‭actual‬ ‭results‬ ‭may‬ ‭arise‬ ‭due‬ ‭to‬ ‭various‬ ‭factors,‬ ‭including‬ ‭changes‬ ‭in‬ ‭economic‬ ‭conditions,‬ ‭changes‬ ‭in‬‭individual‬ ‭users’‬ ‭preferences‬ ‭and‬ ‭business‬ ‭clients'‬ ‭needs,‬ ‭competition,‬ ‭changes‬ ‭in‬ ‭the‬ ‭legal‬‭and‬‭regulatory‬‭environment,‬ ‭fluctuations‬ ‭in‬ ‭foreign‬ ‭exchange‬ ‭rates,‬ ‭climate‬ ‭change‬ ‭or‬ ‭other‬ ‭changes‬ ‭in‬ ‭the‬ ‭natural‬‭environment,‬‭the‬‭impact‬‭of‬‭the‬‭spread‬‭of‬‭COVID-19,‬‭the‬‭occurrence‬‭of‬‭large-scale‬‭natural‬‭disasters,‬‭and‬‭other‬‭factors.‬‭ ccordingly,‬ ‭readers‬ ‭are‬ ‭cautioned‬ ‭against‬ ‭placing‬ ‭undue‬‭reliance‬‭on‬‭any‬‭such‬‭forward-looking‬‭statements.‬
A‭The‬‭Company‬‭has‬‭no‬‭obligation‬‭to‬‭update‬‭or‬‭revise‬‭any‬‭information‬‭contained‬‭in‬‭this‬‭document‬‭based‬‭on‬‭any‬‭subsequent developments except as required by applicable law or stock exchange rules and regulations.‬‭This transcript is provided for the convenience of investors only.‬‭6‬