Artificial intelligence in HR technology is growing in prevalence, but what about the talent acquisition process? Modern Hire, a company founded in 2019, sees potential in this market.
Modern Hire’s platform uses advanced predictive analytics to take interviewing, hiring and recruiting technology to the next level. It offers a host of features — interview scheduling, live or on-demand video interviewing, text interviewing, AI interview scoring, virtual tryouts that enable candidates to demonstrate their skills before moving forward, and predictive analytics throughout the application process that determine candidate t. All of these services are supported by a scientifically rigorous approach to analytics.
The brain behind the company’s platform is called CognitIOn, an AI technology which is backed by more than 40 industrial/organizational experts and data scientists. Modern Hire employs PhD-level selection scientists in talent analytics. Modern Hire serves about half of the Fortune 100. The primary users of its platform are CHROs, leaders in HR and leaders in talent acquisition as well as recruiters and hiring managers seeking a holistic, data-based interview process. Typically, the platform is customizable and can be tailored to any job or candidate.
The Covid-19 pandemic is certainly a crucial time for such a company’s services, with many rms switching to virtual for some or all parts of the interviewing and hiring process. Modern Hire reported year-over-year growth of 57% through July 2020 versus the same period in 2019. According to Jay Miller, the company’s chief marketing officer, “Since the pandemic, we’ve seen a 10-fold increase in use of our digital interviewing, scheduling and candidate assessment technology amongst existing clients. We’ve never seen a surge like this and we are thrilled we’re able to serve the needs of our clients, many of whom are mission critical during this health crisis.”
There are still obstacles: The global pandemic has shown that many talent leaders are relying on traditional hiring methods that “are not optimally efficient, effective or fair,” Miller says. Modern Hire sees as critically important the need to provide clients with technology built on rigorous science and the “ethical, fair, and transparent use of AI technology in selection solutions.”
The company has operations in the US, EMEA and APAC, and is seeking to broaden its international reach. In July 2020, Modern Hire acquired automated video interviewing platform Sonru. As remote work continues, the company hopes to expand its operations.
As talent acquisition technology comes to the forefront during the “remote” life the Covid-19 crisis has brought about, companies like Modern Hire offer a viable solution. With expertise from top scientists, Modern Hire’s platform enables efficient interviews and assessments and better hiring decisions.