pymetrics: using science + technology to improve recruiting for all
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Pymetrics utilizes neuroscience and data science to enhance the recruiting process by providing personalized assessments and matching candidates with companies. This approach addresses common pain points in hiring, such as high turnover rates and difficulties in identifying suitable candidates, leading to significant cost savings and improved diversity. The platform's unique assessment method helps ensure better cultural fit and offers a marketplace for candidates and companies to discover each other.
pymetrics: using science + technology to improve recruiting for all
- 1. use science to match candidates + companies
- 2. current recruiting process information overload 250 resumes : 1 job time spent per resume: 6 s poor information “all resumes look the same” “do GPA/test scores matter? ” >60% applicants cut at resume stage high cost of turnover <200% of employee’s annual salary lost high turnover rate 30-50% of candidates fail within 1st year
- 3. perils of the job search “Does anyone even look at my resume?” “How do I know which job is right for me?” “I think my resume just goes into a black hole.”
- 4. the pain is felt by companies too “all resumes look the same!” “are we missing top candidates?” “do test scores and GPAs really predict job performance?” “we want more diverse candidates!” “will this person be a cultural fit?”
- 5. everything in our lives is now personalized personalizes your movie choices personalizes your date selection personalizes your shopping
- 6. but not the job search experience
- 7. web 3.0: LinkedIn + OkCupid Careers Dating Listings Search Matching
- 8. 8 pymetrics makes recruiting fun simple personalized efficient
- 9. by improving it with assessment through neuroscience + matching through data science
- 10. the science behind platform neuroscience games to assess candidates data science algorithms to predict company + career fit
- 11. candidates assessed using games that cannot be faked no self-report questionnaires!
- 12. assessment factors 50 key cognitive + emotional traits cognitive emotional processing speed pattern recognition risk profile trust continuous attention ability to avoid distraction reward sensitivity altruism impulsivity cognitive control perseverance tolerance for ambiguity working memory planning emotional sensitivity ability to delay gratification memory span sequencing emotional identification learning from feedback cognitive flexibility learning creativity learning from mistakes
- 13. we build data-driven profiles from successful employees to recommend similar candidates
- 14. profiles built + matches made company candidates neuroscience games for assessment employees take tests candidates take tests data science for profiling job /company profiles built candidate profile generated marketplace for matching match made 1 2 3
- 15. supercharge your resume screenings using pymetrics instead of resume review found students who were 3x more likely to end up getting an offer than the average student cost savings: ~$50K
- 16. select better candidates to interview adding pymetrics to resume review increased the yield of interview to offer by 2x cost savings: ~$440K
- 17. don’t miss top talent 35% of candidates rejected at screening went to work for competitors pymetrics cut the rate to 10%
- 18. find interns more likely to convert 100% 80% 60% 40% 20% 0% firm’s actual rate pymetrics top fit rate % conversion of summer associates to full-time hires firm's actual rate using pymetrics consulting profile ~$1.6M in savings for intern program costs and recruitment of replacements
- 19. measure cultural fit 100% 80% 60% 40% 20% 0% rd 1 rejects hired by competitors offers declined offers accepted pymetrics identifies which candidates will be a better cultural fit
- 20. increase diversity • students at schools you don’t currently recruit • students who may not apply through standard channels • students whose resumes are non-traditional • organizations fostering diversity in the workplace we test our models to ensure no gender or ethnic biases
- 21. a personalized marketplace where students discover new companies + careers companies source new candidates
- 22. students come for career assessment 22
- 23. companies source top-fit candidates companies discover students companies source fit students who might not otherwise apply who are at schools a company might not normally access students discover careers pymetrics marketplace we market to students who get general career suggestions who are matched with companies that have pymetrics profiles
- 24. who we are Julie Yoo, PhD Co-Founder, CSO team Frida Polli, PhD, MBA Co-Founder, CEO Matthew Malter Cohen, PhD Head of Data Product Jessica Barrett, MBA Head of BD/Marketing John Salvatore, Lead Developer Fedor Garin Lead Developer investors Bob Pittman clients + partners press Naveed Jooma Lead Developer
- 25. progress to date 25 25k 25 15 schools users industry profiles company profiles Northwestern U of Chicago UMich @ Ann Arbor Brandeis Brown Dartmouth Harvard MIT UVA Duke Emory University of Texas @ Austin Stanford UC Berkeley UCLA Columbia Cornell NYU, UPenn Princeton Yale Carnegie Mellon Indiana U @ Bloomington roll out to 20 additional schools in fall 2014