Innovation Spotlight: LaunchPad Recruits

transcript

W E A R E

V I D E O - L E D T E C H N O L O G Y A N DH R S A A S - B A S E D D ATA A N A LY T I C S

2 www.launchpadrecruits.com

The Business Problem

How do we achieve better and more efficient hiring decisions,

while improving candidate engagement?

The Business Problem

BUDGET + RESOURCE

HIRING VOLUMEHIRING QUALITY

TIME TO HIRECOST TO HIRE

DIVERSITY GOALS

THE GOAL OF RECRUITMENT

REJECT HIRE

GOOD FITSHOULD HAVE HIRED

HIDDEN GEMS

Ideally all hiring decisions are made here

POOR FIT Ideally all candidate rejections

are made here

SHOULD NOT HAVE HIRED

MIS-HIRES

MISSING THE HIDDEN GEMS

INITIAL SCREENING

HR ASSESSMENT

HIRING MANAGER INTERVIEWS

OFFERS MADE

OFFERS ACCEPTED

COSTS OF A MIS-HIRE

“A single mis-hire costs UK PLC4 to 14 times base salary”

Source: CIPD & Top grading, Brad Smart

SEVERANCE HIRINGCOSTS

OPPORTUNITY LOSS

MAINTENANCE

DISRUPTIONCOSTS COMPENSATION

Never apply to company again

Not accept job offer

Tell others not to apply to company

Negative Glassdoor review

Not buy company's products

Tell others to not buy company's products

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

Much more likely Somehwat more likely

CANDIDATE EXPERIENCE

Poor candidate experience increases costs of attraction and selection due to higher candidate drop out rates at each stage of the process

Source: Software Advice 2015

TIME TO HIRE

Your time to hire

Alternative organisation time to hire

Longer time to hire increases costs of attraction and selection due to qualified candidates taking other roles

THE IMPORTANCE OF SELECTION

GROWTH + ATTRITION

Better OutcomesLower Attrition

SELECTION

Faster Time to HireBetter Decisions

PROCESS

Faster, Simpler ProcessOperational Cost Savings

Greater Candidate Engagement

ATTRACTION

Fewer Candidates NeededLower costs of Attraction

FOCUSHERE >

WHAT WE DO

We use science and video to move our customers towards

near perfect recruitment decisions

THE LIGHTBULB MOMENT

A CLEAR PATTERNRELATED TO THE TIME OF DAYAverage Score, across all reviewers, each hour Negative reviewer vs Positive reviewer – Score distribution

Average Score per review criteria

SOME REVIEWERS ARE CONSISTENTLYNEGATIVE, OTHERS ARE POSITIVE

SOME CRITERIA DO NOTDIFFERENTIATE CANDIDATES

Negative correlation – Average answer vs count of videos viewed

REVIEWERS BECOME MORE NEGATIVEAS THEY REVIEW MORE CANDIDATES

OUR SOLUTION

OBJECTIVE+ CONSISTENT

Launchpad RECRUITVideo Assessment

Launchpad VERIFYConsistent Decisions

VERIFY IN ACTION

MI InsightsLaunchPad SignalsMachine Learning

AlgorithmBehaviourmonitoring

Real Timefeedback

REVIEWER

Monitor reviewer behaviours

and identify potential biasMaximise candidate score confidence with optimised

candidate allocation

Test reviewers against known ‘correct’ scores

Provide real-time feedbackfor reviewers

Assessment DesignFeedback to help recruiters optimise the assessment

design

Reviewer SupportComparative performance,

provide actionable feedback and potential training requirements

Candidate Score Confidence

Quantify confidence in scores given to individual

candidates

VERIFY: INSIGHTS DASHBOARD

MAKING BETTER DECISIONS WHILE REDUCING COST PER HIRE

Attract ion + Process + Select ion Costs

Number of h i resCost Per Hi re =

No change

With Video assessmentWith Verified assessment

THE VALUE OF SUPERIOR RECRUITMENT

Cost Savings

Operational Costs Reduced

Time to Hire Reduced

Hiring Manager Time Reduced

Attrition Reduced

Value Creation

Employee Engagement Improved

Diversity & Inclusion Improved

Candidate Experience Improved

Quality of Talent Improved

PROVEN RESULTS

www.launchpadrecruits.com

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Innovation Spotlight: LaunchPad Recruits

Recruiting & HR