Software firm Dillistone rose 28.7 per cent, or 15.5p, to 69.5p, thanks to strong take-up of its recruitment platform Gated Talent, which lets executives and recruiters share data.
GatedTalent – New Product Launch: GatedTalent is an entirely new product designed to allow executives to share information with multiple recruiters in a confidential manner, redefining the relationship between executives and recruiters and revolutionising data management.
“However, according to a report from GatedTalent, a GDPR compliance specialist for the international search sector, that connection might be distinctly more difficult after May 2018. According to the survey of over 350 executive search firms, many of them are worried and unclear about how they will keep in touch with professional and executives in the future. The general feeling seems to be that, to be completely safe from eye-watering fines, head hunters may need to refresh all the data they hold – a massive enterprise involving contacting and engaging with potentially hundreds of thousands of candidates.”
GatedTalent – PLATINUM SPONSOR of the World Executive Search Congress which took place on October 9-10, 2017 in London.
“Ironically it could be that, in the lead-up to GDPR, you will start to hear more from head-hunters, rather than less as requests for consent start flying out. And, unless you want the phone to become suspiciously quiet after May, it might be wise to act on them or even take your own action and go direct to search firms yourself through platforms like GatedTalent which executive search firms will use to manage the consent process.”
“The result of this confusion and consequent hesitancy is likely to be that search firms will find it harder to keep in touch with executive talent post-May 2018 and that many professionals and executives may effectively disappear from view.”
Dillistone’s shares zoomed up 25p to 79p as the company revealed its new private network, GatedTalent, was proving very popular.
“Our research clearly demonstrates that engagement with search firms plays a key role in the progression of talented and ambitious individuals.”
“They have secured sign contracts with more than 20 UK firms including generalist executive search firms alongside Board Search, Financial Services, Technology and Pharmaceuticals. Moreover, the platform has seen registrations from across the globe such as in Europe, Asia, Australia, the Middle East and both North and South America.”
“Initial expectations by Dillistone was that clients would send around 1.0 million invitations to executives by March 2018, with a certain percentage of this creating profiles. However based on the volume, nature and expected usage of firms that have signed up, the group is confident that the product will achieve and beat this target significantly.”
“Executives will almost need to re-register in databases to ensure they remain on the radar. Otherwise they might well disappear.” The positive news, however, is that while GDPR is being viewed as burdensome by many, it offers ample opportunities for executives to update search firms with their latest information on current role, seniority and aspirations which can only be a good thing if they want to develop their career as effectively as possible. “
“When GDPR comes into force in May 2018 it will provide executives with a much greater degree of control over information about them that organizations of all types collect and store,” said Jason Starr, CEO of Dillistone. “And because the executive search arena, in particular, now operates on a completely international basis, GDPR will impose data handling responsibilities on firms and in-house teams based both within and outside the boundaries of the European Union.”