HireVue Insights™ examines over 15,000 digital interview attributes to predict which candidates will become top performers and identify which interviewers make the best hiring decisions
SALT LAKE CITY, Utah – July 17, 2014 – HireVue, the leading digital recruiting and talent interaction provider, today announced the first predictive candidate and interviewer recommendation engine, HireVue Insights. For the first time, companies can use the power of big data to identify their top candidates and best interviewers based on interaction, hiring and performance attributes. It helps organizations optimize their hiring model and gives talent professionals a competitive edge by reducing guesswork and helping them discover the right candidates more quickly. For candidates, it levels the playing field and gives often overlooked talent a chance.
According to the Talent Board, less than 6% of job applicants get an opportunity to interview for a position. The average position receives approximately 100 applicants, leaving 94 candidates in a black hole – often wondering where they stand and why. Many have the skills, personality and potential to do the job but don’t get a chance to tell their story. Until now… HireVue Insights uses the power of big data and personalized digital interactions to recommend candidates based on 15,000 interaction, behavioral and performance attributes – and how they correlate to the organizations current top performers.
HireVue Iris™, a patented deep learning analytics engine that powers HireVue Insights, analyzes a unique data set of interactions, feedback and outcomes that never before existed. Developed by HireVue’s data science team, Iris was built based on over 3 million interview responses. Each candidate interview contains 100,000 times more bytes of data than the resume or profile traditionally used for identifying job candidates. The platform examines attributes in three major categories: interview attributes, behavioral attributes, and performance attributes. Iris’s proprietary algorithms discover patterns and learn which attributes predict performance, then scores each candidate on how they compare to existing top performers. And, similar to a batting average for hiring managers, Iris also scores interviewers based on how their historic ratings and feedback correlated with hiring and performance outcomes.
“Recruiters and hiring managers rely heavily on instincts, hunches and memory to choose the right candidates, but there isn’t a lot of data to help them predict who will become a top performer, or decide who should be interviewing candidates,” said Mark Newman, CEO of HireVue. “This could be the most important innovation in recruiting in the past 25 years. HireVue Insights analyzes over 100,000 times more data than a resume, all within the context of your organization, your positions and your feedback. It gets smarter over time to become your own personal data-driven hiring model.”
The data science team at HireVue worked closely with customers to develop and configure Insights to meet the unique needs of each company. Customers like Chipotle Mexican Grill and others are already realizing big improvements within their processes.
“Making sure we have the right people on our team is key to our success and we are always looking for tools to help us prioritize our time with the best fit candidates,” said JD Cummings, National Recruiting Consultant at Chipotle Mexican Grill. “We are excited to be working with HireVue to help enable more informed, data-driven hiring decisions. We are optimistic that HireVue Insights will help our recruiters and hiring managers to respond quickly to top candidates and has the potential to further reduce our time to hire.”