Supernova Award Category
The Problem
Existing solutions like ATS have incredibly limited capabilities and require hours of manual upkeep each day. They simply cannot provide what recruiters really need to effectively hire the talent their companies need to grow and stay competitive. Recruiters are constantly requesting comprehensive, seamless hiring solutions. They need a system that does more than merely track applicants or a database that just stores candidate data. They need a holistic solution that’s woven into the entire hiring process from start to finish and acts as an integrated hiring platform. Above all, they need an automated solution that helps make their jobs easier by offloading tedious manual work that’s smart enough to recommend how to hire the right people to help their companies succeed. The top three features on recruiters’ hiring platform wish list boil down to three A’s: automation, accuracy, and analytics.
The Solution
The industry of HR vendors has traditionally been very "closed". Compared to other professional verticals – where open platforms and ecosystems are more common – HR has not yet embraced the open approach. At Gild we want to change that. To do that, we built an architecture that was open by design and therefore decided to use the micro-service architecture paradigm (https://en.wikipedia.org/wiki/Microservices). This paradigm is essentially a very complex system (like an end-to-end hiring platform) composed of small and independent components. All these services are accessible by Gild’s consumer facing applications and every other partner, which is what makes up The Gild Platform and Business Intelligence for Hiring Solution.
The results
Hiring is fundamentally broken and the traditional ATS is asking people to use outdated, 90's technologies to manage hiring processes today. Breaking free from conventional methods, The Gild Platform uses data science and machine learning to automate all of these traditionally manual tasks, which allows recruiters and hiring teams to focus on what matters most – nurturing candidate relationships and strengthening a company’s brand. Additionally, hiring is a business decision (not a human resources decision) that directly impacts a company's bottom line. Many CEOs tout that hiring is a company's number one focus. To address this focus, Gild gives companies the technology, data, and insights to make better-informed decisions that grow their revenue. With The Gild Platform and Business Intelligence for Hiring Solution, Gild is fundamentally changing the hiring process for the better.
Metrics
The average hiring team uses disparate tools to manage their hiring process. The Gild Platform brings all of those solutions under one umbrella. 80% of recruiters' time is currently spent on the manual tasks of hiring (using ATS) leaving only 20% for the most important/strategic tasks – building relationships with candidates and developing the corporate brand. The Gild Platform flips those numbers so recruiters can focus on the human tasks that only they can do. Recruiters can only scan 80-100 resumes for day digging for their perfect candidate. In fact, most companies will lose 70 percent of prospective candidates because they’re simply too slow to hire. And even if your teams can move fast, the cost of making the wrong hire is huge. Eighty percent of employee turnover is due to bad hires. On average, the impact to your bottom line is at least 3X the bad hire’s annual salary – not to mention huge hits to productivity, morale, and your reputation. With The Gild Platform, recruiters can now use machines to instantly and easily sort through millions of resumes and job sites. Profiles are fully automated and kept up-to-date – even when prospects move, change jobs, and add new skills. Data science can now predict when a candidate is likely to change jobs. And behavioral analytics and machine learning help the software get smarter the more you users utilize the technology.
The Technology
The Gild Platform brings together the elements needed for hiring and applies data science, consumer-friendly tech, and predictive analytics to all phases of the hiring process. Companies can focus on hiring the right people from all functions and industries for the right roles faster and more effectively. Gild’s BI Solution for Hiring replaces the need for a costly, external BI platform and applies predictive analytics and insight to every stage of the hiring process.
Disruptive Factor
What sets Gild and The Gild Platform apart is the science that fuels the platform. Data science and machine learning are re-humanizing the recruiting process. Again, hiring is a business decision, not a human resources decision, which directly impacts a company's bottom line. As we stated before, many CEOs emphasize that hiring is their company's main focus. Backed by data science and machine learning, The Gild Platform gives companies the technology, data, and insights to make better-informed decisions, which ultimately result in revenue growth.
Shining Moment
Gild was granted a patent in 2014 for the first technology to apply algorithms and data science to the hiring process. This is a massive accomplishment because we are the first and only company to bring objective data and intelligence to hiring to help companies identify and assess talent based upon verified skill versus alma mater or who a person knows. Gild’s groundbreaking technology is transforming the way companies hire, and enabling candidates to stand out on their merits.