We recently attended the Wisconsin Innovation Awards ceremony at the University of Wisconsin-Madison’s iconic Union Terrace overlooking Lake Mendota on the Madison campus. This was the third annual event, which highlights groundbreaking ideas across the Badger state. The committee received over 180 nominations from a variety of industries. Judges read through every nomination multiple times to narrow it down to 35 finalists, and Modern Hire was one of those finalists. The finalists came from 10 categories including education, biotech, agriculture, health IT software, manufacturing and more. Some of the finalists were small start-ups, others were well-established businesses.
As my colleague and I listened to the summary of the nominated companies, we heard a wide variety of business innovations, from curing cancer to detecting contaminants in drinking water to a better way to paint a room. When the emcees moved on to the software category, we were up against other finalists also aiming to solve critical challenges in businesses and communities. To our great pleasure and surprise, Modern Hire was the name called up to the stage to receive a Wisconsin Innovation Award.
Modern Hire was selected as Software Category finalist for the 2016 Wisconsin Innovation Awards.
Modern Hire Selected for Its Role in Transforming Hiring
Knowing that the judging committee was not necessarily made up of HR and TA experts, we wrote our submission so that any layperson or business professional could understand the huge impact Modern Hire is making on how people get hired. Our efforts worked, because this judging committee understood our video and voice interviewing software well enough to appreciate how it is truly changing the way recruiters and job candidates get to know one another. With our on-demand video application alone Modern Hire now facilitates over one million interviews per quarter. That’s an interview every 11 seconds using this innovative technology!
One million job interviews happen via Modern Hire’s on-demand video technology each quarter.
Here is an excerpt from our nomination submission about the value the Modern Hire platform creates for our clients:
- Humana – Estimates that by including on-demand video interviewing in its screening process, it has saved $6 million a year and cut its initial recruiter candidate evaluation time by 66%.
Humana saves $6 million a year by screening job candidates with on-demand video interviews.
- Penn Medicine - By replacing its traditional phone screen, the talent acquisition team reduced its average time to offer by 7 days, reduced interviewing to hire ratio from 5:1 to 1.5:1 and saved approximately 47.5 weeks’ worth of time – an entire head count – just through elimination of scheduling phone interviews.
- Cincinnati Children’s Hospital Medical Center - Using on-demand video interviewing, has cut its time to hire groups of patient escorts in half, from 6 weeks to 3 weeks.
- Robert W. Baird – Saved hundreds of hours on employee referral interviews and saw a 50% increase in candidate adoption over expected results.
- A Global Fortune 500 Industrial Automation and Information Company improved its time to hire by 1 to 2 weeks after replacing a phone screen with an on-demand video interview.
Using on-demand video interviewing can shave 1 to 2 weeks off time-to-hire.
All in all, it was a wonderful night in the beautiful town of Madison, Wisconsin. The Awards brought together innovators from different sectors and geographic regions to celebrate invention and encourage new collaboration. Not only did Modern Hire walk away when an award that we can all be proud of, but it was also a showcase for innovation and entrepreneurship in Wisconsin.