Lighthouse Research & Advisory announced today Modern Hire is the 2021 HR Tech Award winner for Lighthouse Research & Advisory for Best Comprehensive Solution.
The HR Tech industry is crowded. Hundreds of vendors entering the space with little to no track record, with thousands of solutions claiming to be “the best.” The HR Tech Award from Lighthouse Research & Advisory helps buyers differentiate between hype and actual, verifiable results. HR Tech Award from Lighthouse Research & Advisory finds and highlights the best providers and systems in the HR Tech industry.
Modern Hire Solves Your Most Complex Hiring Issues
The hiring process is often a slow, frustrating endeavor for companies and candidates. Recruiters are overworked and tasked with administrative responsibilities such as scheduling and screening, rather than evaluating, recommending, and selecting talent. Candidates are frustrated by companies’ delayed or lack of response after applying or interviewing. Compounding the problem is that today’s hiring software can’t keep up with the expectations of modern candidates. Hiring teams are under pressure to identify and hire the best talent. They struggle to work across different systems, understand how to collect and analyze data, and streamline routines to reduce friction and improve outcomes.
Modern Hire solves these problems with a science-driven virtual hiring platform that is rigorously designed to predict success and supports enterprises at every stage of the hiring process and for all types of hires, positions, and levels. Powered by proven science and trusted technology, Modern Hire’s platform transforms business outcomes and builds engaged, qualified, and diverse workforces through the following approach:
- Screen: Modern Hire’s sophisticated, efficient, and candidate-friendly screening tools provide modern candidates with personalized, time-saving hiring experiences through convenient text-based or pre-recorded phone interactions. Screening personalizes the hiring experience for candidates from the start, allowing recruiters and hiring teams to quickly identify and move forward with candidates who meet their qualifications.
- Assess: Modern Hire’s predictive, scientifically validated Virtual Job Tryout® pre-hire assessments are rooted in scaled insights that Modern Hire has collected from more than a billion candidate interactions across various roles and industries. Career stability text-based assessments enable hiring teams to scientifically predict turnover with an on-demand text interaction in the screening stage of the hiring process.
- Interview: Through a range of on-demand and live interviewing solutions, Modern Hire enables hiring teams to conduct any type of interview leveraging dynamically generated, job-specific behavioral, follow-up, and competency-based questions. Modern Hire’s interview technology includes structured rating scales to help recruiters, automated workflows, and candidate self-scheduling tools.
The results speak for themselves. Modern Hire clients see an average increase of 36% in productivity among hiring teams and 30% in recruiter efficiency –– and as a result, has saved clients $6 million annually through improved recruiter efficiency. Modern Hire has also saved its clients $5.5 million in turnover costs due to seeing an average reduction of 40% in turnover across all of its clients. Additional measurable results include:
- 6 days faster, on average, from application to completed interview
- 104% improvement in district sales and performance
- Average reduction of 68% in interview-to-hire ratio
- 3 weeks faster time-to-hire, on average
It’s not magic; it’s science.
Modern Hire’s key differentiator is CognitIOn by Modern HireTM, the nucleus of Modern Hire’s platform that is critical to everything Modern Hire does today and the foundation of its continued innovation for transforming the future of hiring. CognitIOn drives Modern Hire’s research, innovation, and the scientists behind it committed to creating new and practical ways of measuring and understanding human performance.
What truly distinguishes CognitIOn is the practical application of deep learning and other advanced statistical techniques to create a system of intelligence –– a fundamental understanding of how human capital drives organizational performance. Deeper and broader than what underlies any existing HR technology, CognitIOn combines comprehensive expertise in the theoretical understanding of what drives human behavior, talent selection science, candidate experience, diversity and fairness, data science and advanced analytics, the practical application of ethical AI, and employment law. While other tools might be built on one or even a handful of these disciplines, only CognitIOn combines them all to create hiring tools that are optimally predictive, engaging, and fair.
What can a science-driving hiring platform do for you? Find out now.