EdGE’s HIREalchemy helped an IT firm find the right people for the right job – without external hiring.

1. HR Tech saves the day
A case study on how EdGE’s HIREalchemy helped an IT firm find
the right people for the right job without external hiring

2. © 2016 EdGE Networks 2
Find your way through the presentation
 Slide 3
 Slide 6
 Slide 18
: A few statistics in hiring
: Case study
: About us

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Let’s take a look at a few statistics first

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On an average, 118 people
apply for a single job opening
It costs $5000 or more to
fill a job vacancy
It takes 26 days on an
average to fill a vacancy
A bad hire can cost
$25000 or more
Source: http://recruiterbox.com/blog/the-cost-of-hiring-new-employees-infographic/
http://www.forbes.com/sites/jacquelynsmith/2013/04/17/7-things-you-probably-didnt-know-about-your-job-search/#596914de64e6

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However, predictive analytics and HR tech can help companies reduce costs,
develop faster hiring cycles and find the right people for the right job

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A large IT firm with an employee strength of 150000 approached us
to solve a problem they were facing in filling vacant positions
in the organization leading to…

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Lack of single skill
repository
Allocation failures due to
inaccurate resume
matches
High hiring cycle time leading
to loss of revenue
Low internal fulfillment
resulting in high external
hiring

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The underlying issue…
The growing job
vacancies had to
be filled in
within a
specified time
The existing
methods of talent
acquisition were
time consuming
and inefficient
The organisation
was growing
rapidly, as a result
their demand for
resources was
very high

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How we resolved it…
EdGE’s HIREalchemy

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HIREalchemy is a combination of
Artificial Intelligence & Analytics that analyzes
structured and unstructured Job Descriptions using a
comprehensive skill database to determine the skills required for
a job & effectively matches the right candidate to the right job.
Data
Analytics
Artificial
Intelligence

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How we implemented it…
Built a comprehensive skill repository by mapping the client-specific skills to the
market skills
Analysed structured demand information and unstructured job descriptions using NLP
Increased supply visibility by taking into account the synonyms and inferences of skills
Applied client’s business rules to the search to enhance workforce optimization
Provided matching stack-ranked profiles using proprietary scoring algorithms
The product was seamlessly integrated into the client’s own existing systems
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The results were for everyone to see

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96%
Reduction in cycle time
On time
Vacancy fulfilment
58%
Reduction in hiring cost
Automation of the process
helped in driving faster
and more accurate
processing and matching
Supply visibility of available
candidates with right skills
improved by over 4 times
Fewer external hires due to
better match of internal
candidates
Lower dependency on
recruitment agencies
Reduction in man hours
spent in resource allocation

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33%
Reduction in external hiring
Improved
Search result
36%
increase in allocation
via Project Manager
HIREalchemy provided
wider and more accurate
match of internal
candidates against job
requirements
With better JDs, improved
skills description and
training to fill skills gap, the
odds of getting the best-fit
resources increased manifold
Ease of use, speed and
automation has enabled
self-serve internal job
fulfillment by Project
Managers

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The aftermath

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With HIREalchemy, the client experienced sea-change in its talent
acquisition and workforce optimization processes. Owing to its success,
the company is scaling up the solution and deploying it across business
units to reap its various business benefits.

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Who we are and what we do
Learn more about EdGE Networks and HIREalchemy

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About EdGE Networks

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We are the Workforce Warriors.
We believe in using the steel of data science to wield our influence in battling
your toughest talent acquisition and workforce optimization challenges.
To reengineer human resource management, we harness NLP algorithms and a
powerful skill repository built as an Artificial Neural Network.
Insights and predictions are our forte; we add an intelligence layer to HR systems
that transform your workforce.

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About HIREalchemy

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HIREalchemy is a single platform for Talent Acquisition and
Workforce Optimization. Here are some of the features it offers:
 Skill Analysis
 Position Management
 Geolocation
 Powerful Search
 Resume Analysis
 Fitment Score
 Learning Path
 Wide Job Site Integration

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Connect with us now!

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Thank you