This Company Can CLONE Your Top Talent
You need work experience to get a job.
But you need a job to get work experience.
This is one of life’s more frustrating Catch-22s, especially for those early in their careers. Without an internal referral, you are left with uploading résumés to black holes disguised as online career portals and networking in order to get a foot in the door somewhere.
But what if you could earn an interview by showing how you think, not by what you have done?
Thanks to Pymetrics, a New York-based start-up, this is becoming a reality.
Founded in 2013 by Dr. Frida Polli, a Harvard-trained neuroscientist, Pymetrics is revolutionizing 21st-century job recruiting through the use of neuroscience, machine learning, and bias-free algorithms.
Rather than focusing on past employment and education, Pymetrics does away with résumés and instead has candidates play neuroscience games to measure their skills and behaviors that are then compared to top performers within a company.
Play Games, Get Hired
Here’s how it works.
When a company first signs up for Pymetrics, at least 50 of its top employees play neuroscience games that test memory, emotional intelligence, risk-tolerance, fairness, and focus. The results are used to identify what skills, traits, and behaviors correspond to success for specific roles within the company.
Next, the Pymetrics team audits the results for biases and builds a custom rule set, or algorithm, that represents the success metrics discovered through the internal employee testing. This becomes the baseline to which prospective candidates are compared.
Once the platform is ready, the company is done collecting résumés.
Potential hires play the same neuroscience games and are matched to opportunities if they stack up well against the top employees. If their results do not align well with a company, Pymetrics will automatically match candidates to opportunities with other clients who are also on the Pymetrics platform.
With Pymetrics, companies save time and money and see both increased hiring yields and organizational diversity. On their website, Pymetrics has a nifty, simple tool to show how much their product can impact an organization.
For a company putting 10k candidates through its recruitment cycle, Pymetrics estimates 500 recruiter hours and $40k saved, a 2x improvement in hiring yield and, at a minimum, a 20% increase in gender, ethnic, and socioeconomic diversity. That’s a SERIOUS sales pitch.
There has, however, been some pushback, primarily from recruiters who feel that Pymetrics threatens their job security.
To recruiters, Founder and CEO Dr. Polli says –
“We are going to free up your time to do much better, more high-value activities than scanning a résumé for six seconds – which is what the average recruiter does.”
Pymetrics enables companies to repurpose recruiting resources so that there is more focus on proactive outreach and less time spent on traditional résumé scanning.
“The résumé is the most biased piece of information used in the hiring process.”
CEO and Pymetrics founder, Dr. Frida Polli, herself embodies the barrier-breaking work her company is doing.
As a 38-year old single mom with two daughters and no engineering experience, she does not look like most high-tech start-up CEOs. Dr. Polli started Pymetrics while pursuing her MBA at Harvard after 10 years of academic neuroscience. After diving back into job searching, Dr. Polli was surprised by what she found.
“Business school is a front-row seat to recruiting for two years. I was shocked to see it really hadn’t changed in the (many) years since I’d graduated from college. My classmates were prepping for 6 months to land their “perfect” internship or job, only to hate it 3 days in. And this was happening for overserved Ivy-league MBA students – I could only imagine what was happening everywhere else.”
This inspired her to consider how she could combine technology and her neuroscience training to rethink how companies recruit talent today.
“In the day and age of Netflix, Spotify and Amazon — platforms that take in information about you and give you personalized recommendations that seem to know you better than you know yourself – where was the equivalent for jobs?”
Pymetrics is Expanding Overseas
Today, more than 60 companies including LinkedIn, Tesla, Accenture, and Unilever use Pymetrics to help recruit, hire, train, and retain top performers.
To date, the company has raised a total of $17M over six funding rounds. Investors include Khosla Ventures, Randstad Innovation Fund, and BBG Ventures. The latest round led by JAZZ Venture Partners in September 2017 will help Pymetrics go deeper internationally by expanding sales offices in London and Singapore.
This funding has already generated results as the start-up broke into the Australian market in June when ANZ Banking Group and Rio Tinto both signed on with the platform.
Outside of venture funding, Pymetrics also received a grant for an undisclosed amount from The Rockefeller Foundation to help underemployed youth find opportunities they would not have been considered for otherwise.
Today, Pymetrics has 75+ employees, is used by 60+ companies worldwide and has been used by 1M+ job applicants.
The HR Makeover Your Company Needs
As with other companies we’ve covered on Untold Business, Pymetrics is another example of a tech-based disruptor that is quickly changing the status quo by reshaping the way talent is recruited and matched to opportunities within companies. The days of biased résumé scanning for Ivy League education and big-name company experience are numbered. Companies who want to replicate their top talent can now do so in a more cost-efficient and higher-yield manner.
Pymetrics has created an undeniable value proposition for companies and candidates, enhancing the recruitment experience in a way that is socially responsible and financially beneficial for clients.
For those of you looking for your next hire, give the Pymetrics platform a try and find candidates who have similar skills, traits, and behavior patterns to your best performers. Treat your HR department to the makeover it deserves NOW!
August 6, 2018 | By Chris Fruci – Untold Business Writer