Modern Hire congratulates Walmart, Amazon, CVS Health, and Bank of America for their win of the Human Resource Management (HRM) Impact Award. The award is presented each year by the Society for Industrial and Organizational Psychology (SIOP) and Society for Human Resource Management (SHRM) to recognize and promote innovative HR practices and initiatives proven successful by evidence-based analyses. Modern Hire has partnered with each of these leading organizations to develop custom pre-employment job-simulation assessments that have led to significant business outcomes and improved hiring experiences. Outcomes like $6.8 million in first-year savings for Bank of America, and a measurable increase in call center service performance for CVS Health. When it comes to HRM Impact Awards, no other hiring partner can match Modern Hire’s track record of collaboration.
Here’s a look at our clients’ award-winning initiatives:
Walmart (2019-2020 Award)
Walmart’s Retail Associate Assessment was developed to support hiring at each of the retailer’s 4,700 stores. Walmart sees more than three million applicants each year and made 400,000 new hires in four months alone this year in response to the COVID-19 pandemic. The Retail Associate Assessment developed by Modern Hire and Walmart accurately predicts new hire performance and turnover for the retail store associate role.
Amazon (2018 Award)
Amazon partnered with Modern Hire to develop custom assessments for its Fulfillment Center Associates and Customer Service Associates, two of its highest-volume and biggest-impact roles. The pre-hire assessments provide candidates with a realistic job preview of the job and Amazon’s culture, followed by gamified, simulation-based exercises that closely mirror job tasks to educate candidates about the role while measuring their job-relevant skills. Amazon credits Modern Hire’s pre-employment assessments with enabling it to surpass previously unmatched hiring needs and deliver personal hiring experiences at scale.
CVS Health (2017 Award)
CVS Health and Modern Hire collaborated to develop the CVS Health Virtual Job Tryout for the company’s call center roles. The Customer Care Pre-Hire Screening Assessment created a measurable business impact by streamlining hiring, identifying the best-qualified applicants, and creating a positive candidate experience. The assessment has also led to measurable improvement of new hire performance on critical operational outcomes, including reducing caller hold times, call transfers, and callbacks.
Bank of America (2015 Award)
Bank of America partnered with Modern Hire to create a more candidate-centric, effective pre-hire assessment for the candidates’ financial service leader, many of whom are applying for multiple roles. The Universal Fit Pre-Hire Assessment includes a core set of modules relevant for all roles and various job-specific modules. Candidates complete the core assessment and certain job-specific modules depending on the roles they’ve applied for, without having to repeat any assessments. In addition to $6.8 million in first-year cost savings, Bank of America’s use of the Universal Fit Pre-Hire Assessment saved 4,500 hours of candidate assessment time in the first year and created streamlined, personal hiring experiences for its candidates.
At times, human resources have been characterized as lagging in integrating data analytics and advanced technology in day-to-day business practices. It only takes a glance to see how HR teams at Walmart, Amazon, CVS Health, and Bank of America are at the forefront of evidence-based data-driven practices and analyses. Modern Hire is incredibly pleased to be on the leading edge with these partners, innovating to advance hiring experiences and outcomes.