ShiftPixy Provides Video Detailing “Fast Fill” Recruiting Technology

Rhea-AI Summary

ShiftPixy, Inc. (NASDAQ: PIXY) has introduced its new "Fast Fill" recruiting technology aimed at addressing labor shortages in the quick service restaurant (QSR) sector. This system allows operators to quickly connect with potential shift workers through mobile technology, significantly reducing the time needed to fill positions. The CEO reported that initial tests have sped up hiring from six months to just two weeks. With a focus on the Gig Economy, ShiftPixy’s platform helps businesses manage shift-based employees while navigating compliance issues. The company continues to innovate amid increasing demand for workforce solutions.

Positive

• Launch of 'Fast Fill' technology aims to streamline hiring processes for QSR operators.
• Initial tests have shown a reduction in hiring time from six months to two weeks, enhancing operational efficiency.
• The technology utilizes mobile platforms to directly connect with potential shift workers, improving recruitment effectiveness.

Negative

• None.

MIAMI--(BUSINESS WIRE)-- ShiftPixy, Inc. (Nasdaq: PIXY) (“ShiftPixy” or “the Company”), a Florida-based national staffing enterprise which designs, manages, and sells access to a disruptive, revolutionary platform that facilitates employment in the rapidly growing Gig Economy, today released a video further detailing its new “Fast Fill” recruiting technology first announced December 13, 2022. As reported at the time, many of the multi-unit fast food operators that endured the pandemic are now seeing activity pick up, but finding themselves unable to fill open positions, often due to weaker than ever “bench strength”. Fast Fill, which ShiftPixy is launching with a “Need Workers?” marketing campaign aimed at restaurant operators, is designed to directly reach available workers through mobile technology, encouraging immediate sign up for available QSR (quick service restaurant) shifts.

Smartphones have become a necessity of daily life, and have dramatically altered how people access information. Studies show that 94% of consumers look for local information on their smartphones, and 90% of those audiences take action as a result. The widespread use of smartphones to search the internet, shop, be entertained, and find local information provides marketers with the ability to target an audience that is constantly connected.

ShiftPixy’s extensive analytics enable its fast fill algorithm to precisely identify and target potential shift workers for population. Once a potential shift worker is identified, the fast fill algorithm connects with them to present shift work opportunities and immediately move them through a high touch digital process to put them to work on the opportunities they select.

“Keeping the bench full with qualified workers remains a challenge for today’s QSR operators, and our Fast Fill mobile technology allows them to reach the workers of today quickly and efficiently where they live and socialize,” said ShiftPixy Co-Founder and CEO, Scott Absher. “As discussed in the accompanying video, our most recent tests with our fast food clients needing to fill as many as 100 openings has exceeded expectations, turning what once was a six-month endeavor into perhaps a two-week success story. We’re capturing the attention of interested shift workers, motivating them to work and by so doing, accelerating the growth of our QSR clients.”

About ShiftPixy
ShiftPixy is a disruptive human capital services enterprise, revolutionizing employment in the Gig Economy by delivering a next-gen platform for workforce management that helps businesses with shift-based employees navigate regulatory mandates, minimize administrative burdens and better connect with a ready-for-hire workforce. With expertise rooted in management’s more than 25 years of workers’ compensation and compliance programs experience, ShiftPixy adds a needed layer for addressing compliance and continued demands for equitable employment practices in the growing Gig Economy.

Forward-Looking Statements
Any statements contained in this press release that do not describe historical facts may constitute forward-looking statements. These forward-looking statements include, among other things, statements regarding the anticipated use of proceeds from the private placement, the anticipated closing date of the private placement and the anticipated filing and effectiveness date for a registration statement related to the resale of the common shares and common shares underlying warrants from the private placement. Although such forward-looking statements are based upon what management of the Company believes are reasonable assumptions, there can be no assurance that forward-looking statements will prove to be accurate. If any of the risks or uncertainties, including those set forth below, materialize or if any of the assumptions proves incorrect, the results of the Company, could differ materially from the results expressed or implied by the forward-looking statements we make. The risks and uncertainties include, but are not limited to, risks associated with the nature of the Company’s business model; the Company’s ability to execute its vision and growth strategy; the Company’s ability to attract and retain clients; the Company’s ability to assess and manage risks; changes in the law that affect the Company’s business and its ability to respond to such changes and incorporate them into its business model, as necessary; the Company’s ability to insure against and otherwise effectively manage risks that affect its business; competition; reliance on third-party systems and software; the Company’s ability to protect and maintain its intellectual property; and general developments in the economy and financial markets. These and other risks are discussed in the Company’s filings with the SEC, including, without limitation, its Annual Report on Form 10-K, and its periodic and current reports on Form 10-Q and Form 8-K. The Company undertakes no obligation to update forward-looking statements if circumstances or management's estimates or opinions should change, except as required by applicable securities laws. The information in this press release shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, and will not be deemed an admission as to the materiality of any information that is required to be disclosed solely by Regulation FD. Further information on these and other factors that could affect the financial results of the Company, is included in the filings we make with the SEC from time to time. These documents are available on the “SEC Filings” subsection of the “Investor Information” section of the Company’s website at https://ir.shiftpixy.com/financial-information/sec-filings, or directly from the SEC’s website at https://www.sec.gov. Consistent with the SEC’s April 2013 guidance on using social media outlets like Facebook and Twitter to make corporate disclosures and announce key information in compliance with Regulation FD, the Company is alerting investors and other members of the general public that the Company will provide updates on operations and progress required to be disclosed under Regulation FD through its social media on Facebook, Twitter, LinkedIn and YouTube. Investors, potential investors, shareholders and individuals interested in the Company are encouraged to keep informed by following us on Facebook, Twitter, LinkedIn and YouTube.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230215005162/en/

INVESTOR:

InvestorRelations@shiftpixy.com

800.475.3655

Source: ShiftPixy, Inc.

FAQ

What is ShiftPixy's 'Fast Fill' recruiting technology?

ShiftPixy's 'Fast Fill' technology is a new recruiting solution designed to help quick service restaurant operators quickly connect with potential shift workers through mobile technology.

How much time does ShiftPixy's new technology save in the hiring process?

The new 'Fast Fill' technology has reportedly reduced the hiring time from six months to approximately two weeks.

When was the 'Fast Fill' technology first announced?

The 'Fast Fill' recruiting technology was first announced on December 13, 2022.

What challenges does ShiftPixy's technology address in the Gig Economy?

It addresses the challenge of labor shortages in the quick service restaurant sector, allowing operators to fill open positions more effectively.