Startups That Are Changing the Face of Hiring

Hiring candidates based on gut feel and anecdotal information won’t hold for long. Startups in the hiring space are ushering in a mini revolution by leveraging technology and data science. Prachi Verma & Sreeradha D Basu track the game changers.

Jombay: The Psychometric Push

Jombay helps companies hire, promote and retain the right talent through a talent

1 NEW DIRECTION:

Jombay uses psychometrics and analytics to make hiring and promotions more scientific.

Traditionally a lot of these decisions have been taken on gut feel and anecdotal information, leading to expensive errors. Jombay helps companies reduce these errors through a data-driven approach.

2 NEXT INNOVATION:

Corporate India’s biggest challenge is the dearth of leadership talent. To tackle this, Jombay is introducing a predictive analytics solution to predict potential high-performing leaders in an organisation.

THE BRAINS BEHIND JOMBAY:

University of Southern California alumnus Suruchi Wagh. Prior to Jombay, she worked with a Stanford University professor at Risk Management Solutions in California as a research analyst.

Stanford University alumnus Mohit Gundecha. Before this, he was heading India operations for mig33, a mobile-first community.

TalentPad: The Win-Win Creators

Started in February 2014, Delhi-based TalentPad is a curated marketplace connecting high-quality talent with employers in the technology space

1 NEW DIRECTION:

Unlike traditional hiring platforms, which randomly upload resumes for the consumption of employers, TalentPad curates the resumes, giving employers access to premium and non-redundant profiles on a single platform.

It also offers candidates a platform to showcase themselves to hundreds of employers at once and let the employer make the first move, ensuring a `win win’ for employers and employees.

2 NEXT INNOVATION:

It will enable a better match between candidates and companies, using technology and data science, thus making the marketplace more efficient.

THE BRAINS BEHIND TALENTPAD:

Nikhil Vij: The CTO and co-founder is an IIT Bombay alumnus. He has worked in Google and co-founded a startup named Clipr Raghav Jain: The co-founder and COO is a graduate from IIT BHU. He has worked at JP Morgan and Deloitte.Mayank Jain: The IIT Delhi and IIM Ahmedabad alumnus is the CEO and co-founder. Prior to this, he was the head of marketing and CRM at Deals & You, and head of operational strategy at Juvalia & You. He has also been a management consultant at Accenture.

MyRefers: External Referrals

MyRefers is a referral-based jobs marketplace that helps companies crowdsource top talent using a network of referees, CXOs, recruiters and HR consultancies

1 NEW DIRECTION:

While referrals continue to be the best hiring source, they are largely limited to internal employees. MyRefers introduces a new source of hires –external referrals.

At MyRefers, anyone is allowed a job referral, which allows companies to reach out to passive candidates. Teamed with data intelligence, the best profiles, similar to employee or internal referrals, can go out to employers.

2 NEXT INNOVATION:

MyRefers has just added a visual resume tool that converts an user’s social media profile or text resume into an easy-to-read visual resume to highlight the relevant skills of candidates within a few seconds.MyRefers plans to add social data intelligence -gathering data of a user’s profile and social activity across various online platforms and analysing that data to create a skill and culture match for the open jobs on the platform -to the current data engine

THE BRAINS BEHIND JOMBAY:

Avnish Anand: Co-founder and chief product officer is an MBA from IIM Lucknow and an ISI Kolkata graduate Lalit Bhagia: Founder and CEO, is an engineer and MBA from Pune University. He also has an International Business Programme, Management degree from IIM Calcutta. He has previously been the VP digital at STAR TV and EVP & head APAC at Digitas.Kashish Bhagia: Co-founder and chief finance officer, is a CFA who has worked with companies like JP Morgan, Agilent Technologies and GE

Interview Mocha: Skill Testing Made Easy

Interview Mocha offers solutions for pre-employment skill testing in domains like information technology, sales, marketing, digital marketing and business skills. It has over 50,000 questions, besides a network of subject matter experts and simulators.

Its solutions contain features like cheating detection and prevention, `auto follow’ of candidates, faster selection process of candidates and integration with sourcing mechanisms like employee referrals, job portals, company websites,

1 NEW DIRECTION:

Unlike traditional HR which needs to test hundreds of skills for multiple job profiles, Interview Mocha does not need project teams and hiring managers. It solves these problems with ready tests, a custom test creation facility, image proctoring, easy and decisive reporting and an auto-follow up of candidates.

2 NEXT INNOVATION:

The company is working towards offering the largest number of tests in the world, for which it is engaging with subject matter experts.

It is also enriching its simulators and technical platform.

THE BRAINS BEHIND INTERVIEW MOCHA

Amit Mishra: Founder and CEO started an IT services company called Ecotech IT Solutions based out of Pune in the 2007 that grew to $1.5 million in three years. He exited it in November 2012. He is a computer engineer and has earlier worked at IBM from 2002-06.Sujit Karpe: Founder and CTO co-founded the IT services company with Mishra.He is also a computer engineer and had worked with Mishra at IBM.

Talview.com: Video Interviews

Talview offers a video interview platform that leverages technologies like mobile, video and analytics to help companies screen and select talent. The company claims to cut time and costs for its 60 enterprise clients.

1 NEW DIRECTION:

Talview’s flagship product is an automated video interview, which does away with the need of an interviewer. The system prompts the candidate, whose impromptu responses are recorded for review by the panel.

The other tools provided by Talview are Live Interview, Remote Proctored Written Assessments and Hiring Analytics.

2 NEXT INNOVATION:

Talview is working on products and features that will leverage advanced natural language processing, strong artificial intelligence and semantic search methodologies to find the best fit in the shortest possible time.

THE BRAINS BEHIND TALVIEW (Clockwise from top left) Jobin Jose:

COO is an engineer who has worked with multiple startups in the video technology space Subramanian K: The CTO is also an IIT Bombay alumnus. He had stints with a few start-ups Tom Jose: CMO is an NMIMS Mumbai alumnus. He was working with KPMG and prior to that with L&T (where he met Sanjoe) Sanjoe Jose: CEO is an IIT Bombay alumnus. He was working with National Instruments, US-based high-end IT solutions provider from 2011 to 2012. His first job was with Larsen and Toubro, 2007-09.

GrownOut: Forging Connections

GrownOut offers a software as a service (SaaS)-based online referral hiring tool using data solutions It believes in the idea that “you can find everything in your network; you just need to look deeper“.Thus, a small business with nearly 100 employees has a potential to reach out to 15,000 candidates, as an average employee will have a minimum of 150 connections across the Internet.

1 NEW DIRECTION:

While nearly 40% of hiring is done through referrals, only 6.9% of applications come through this process. According to Grownout.

com, referrals have the best retention rates. In traditional HR, even though referrals hiring is the best source to find right candidates, it is difficult to achieve 100% efficiency. “As the referral bonuses compare poorly with the effort they put in, many employees tend to miss sharing opportunities,“ says Gupta. Thus, the time lag between sharing a vacancy and getting a suitable response is huge in case of traditional HR.

2 NEXT INNOVATION:

GrownOut’s solution uses a lot of behavioural data and focuses on finding optimum solutions. So the company is working towards consolidation of data from multiple sources about a job seeker, so that HR can see beyond the standard resume. “This can also help HR departments understand the soft skills the candidate possesses,“ says Gupta.

Job-seeking behaviour will also be analysed for the candidate and be compared to behaviour of people with similar profiles. This will tap passive as well as active seekers.

The solution will get upgrades based on consumer behaviour and with time, will make referral hiring as the primary hiring source.

THE BRAINS BEHIND GROWNOUT Sumit Gupta:

Founder, is a computer science graduate Harsimran Walia: Founder, is an IIT Delhi graduate.

Source: Economic Times

Date : 07-04-2015

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