On the 1st of July 2017, Pexitics hosted its first webinar to introduce PexiScore to the HR fraternity. This is the first of a series of articles that zooms into the key points raised during the webinar. The webinar was co-presented by Peoples Analytics Commons and Pexitics.com. The session was led by Subhashini S. Tripathi Founder and Chief Data Scientist at Pexitics.com and convened by Santosh Mishra Principal Advisor of the Human Capital Foundation
Technology has transformed all functions of business including operations, marketing, finance and human resources. However, when it comes to human resources itself, the development of technology, to aid in various aspects of human resources, its implementation has faced several challenges. These challenges could be associated with a general lack of consensus between the two schools of HR as mentioned by Mr. Santosh; one, that believes that human resources, being a people function, cannot or should not be measured through metrics, but instead, should be experiential and the other, that says, HR is as much of a science as any other science and should be measurable and measured as such. Subhashini, like Mr. Mishra takes the middle ground.
The presenter of the Webinar Subhashini S. Tripathi has been in the world of business for well over a decade, and mastered analytics when it was still a new entrant into board room discussions. She, drawing from her rich experience spanning fraud control, risk analysis, consulting and training has discovered that implementing measures, checks and balances is always useful, as far as the tool used to measure, measures: what it is built to measure, neither more, nor less. With this logic in mind, and with the knowledge partnership of Reuben Ray, a business development veteran specializing in dealing with online platforms, the PexiScore platform was developed. PexiScore is an analytical tool, that assesses the Job Fit of a candidate to a specified job, in a specified organization. While the engine this tool runs on is made up of robust analytics in the form of dynamic equations, the platform itself sits on top of a next gen Big Data Cloud Platform. The tool or rather the platform is a perfect symphony of technology and analytics coming together to solve a business problem. The problem of whom to hire. But its strength lies in its key differentiating fact; PexiScore while being a reliable tool also allows for deep customizations based on organizational needs.
During the discussion, Kanchana Manyam, Partner at KHRC and an HR veteran with experience in both strategic and functional HR roles mentioned that large firms like Accenture already had the technology and the wherewithal to track each and every transaction within the human resource function; right from when a candidate is hired, right up till when s/he exits the organization. So, there is already a lot of data that is generated. However, without analytics, this data is merely a set of aggregates with no scope for application. With analytics, these aggregates can be transformed into measures or converted into scores with the ability to detect dualities such as success or failure or points on a scale that range between efficiency and inefficiency.
The major intent of the webinar in the context of technology and analytics was to act as a sounding board for the idea of integrating both these elements into hiring and to prove with data, how such an integration, could result in a significant improvement in the quality of the hire and the process of hiring. This was done through the lens of a case study that showcased this improvement while conducting mass inter level hiring.
The HR fraternity is waking up to this need for change and is very aware of the changing dynamics of the future workforce. This is evidenced by the fact that several prominent HR conferences are picking up themes to explore technology within the HR function. But it is not simple. Most HR decision makers will agree that while hiring, they often miss out on meeting the ideal time target. That is, onboarding a replacement hire, before the person being replaced, exits the organization. Because of sustained process inefficiencies, such delays are no longer considered critical and the HR function seems to have no option but to be complacent and devise work arounds. But the fact is, with technology and analytics, there is no need to devise work arounds and there is an option to hire better. Process inefficiencies can be eliminated. Hiring time cycles could significantly be reduced from one month to almost half a month or even less.
So why haven’t these systems changed even though they have the scope to change? Subhashini feels that there is a grave need for the HR fraternity to start becoming confident about tech-systems that assist the hiring process. And the best way to build such confidence is to understand how these systems work. For e.g. the PexiScore system works through a system of 35 dynamic equations. These equations respond to factors like: the years of experience required for a job, the level of expertise required for a certain technology used in the job, and the desired behavioural strengths for the specific job. Without understanding, or knowing about the existence of these equations and the myriad factors in takes into consideration, confidence in the system is not possible, even if the system states the problem it is solving on the cover.
The other important fact to remember is that all these factors are taken into account even while hiring without the help of technology. A good recruiter is well versed with such factors and requirements and is an expert at assigning such weights. So, what is the advantage of technology here? This can be understood by the simple case of why planes are not always on autopilot. In the case of any contingency, a human pilot is indispensable to ensure the safety of all souls on board. But contingencies are not the common case. In fact, almost 80% of all cases can be run through a system. This cuts time taken significantly while reducing errors that could be caused by fatigue or unfavourable emotional states. A technical system is a machine that does not experience exhaustion and cannot miscalculate. In the context of hiring, systems like PexiScore now make it possible, to complete the hiring process through a few clicks of the button, faster and better. Integrating Technology and Analytics into Hiring is the next HR revolution.
Jobs have also undergone a generational change. Without the help of technology, it is impossible to manually fill the gap between the recruiter and the ideal candidate for a job. HR is in a state of transformation aided by technology and analytics. Like Mr. Mishra said, it is now up to individual organizations to pick up on the momentum of this revolutionary transformation, to provide the maximum value to their stakeholders.
If you want to learn more about PexiScore visit https://pexiscore.com/ and request a demo. You can also connect with Subhashini at https://www.linkedin.com/in/subhashinitripathi/ and Reuben Ray at https://www.linkedin.com/in/reubenray/
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Read the next articles in the series go to:
Watch the webinar recording below: