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ReQue - Advanced Analytics for Lead Scoring in Recruitment

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Anthony Leshinsky
Anthony Leshinsky

ReQue is an advanced analytics platform built by Untitled Research. It is designed for recruitment optimization and utilizes AI/ML technology to learn from customer outcomes and automatically predicts outcomes for new leads.

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1 息 2018 Untitled Research. All Rights Reserved. ReQue Using AI to disrupt and optimize the Recruitment Process untitled-research.com Presents
2 息 2018 Untitled Research. All Rights Reserved. THE MACHINE REVOLUTION IN BUSINESS 61% of businesses said they implemented AI in 2017, up from just 38% in 2016 (Narrative Science, 2018) untitled-research.com AI/ML
3 息 2018 Untitled Research. All Rights Reserved. Initiatives, have invested in infrastructure to support its scale, and have clear business goals - achieve 3 to 15% percentage point higher profit margin. Of the over 3,000 business leaders who were interviewed as part of the survey, the majority expect margins to increase by up to 5% points in the next year. (Source: McKinsey Global Institute, Artificial Intelligence, The Next Digital Frontier) Higher Profits McKinsey found that companies who benefit from senior management support for AI3-15% BUSINESSES ARE ADOPTING AI/ML WHY A transformative shift from manual tasks performed by humans to automated processes powered by machines. EFFORT SHIFT The most powerful paradigm is a combination of deep subject matter expertise and data informed decisions. AUGMENTED INTELLIGENCE The process of developing and employing advanced analytics has strategic insight benefits beyond day-to-day ops. DEEP INSIGHTS AI is going to be as important to companies as cash flow is, Marc Cuban said. You have to be good at it or you wont be able to compete.
4 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT PROCESS TYPICAL Client Needs Open Requisition (Lead) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation Organizational Effort 80%20%
5 息 2018 Untitled Research. All Rights Reserved. Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation Which leads should we invest our fulfillment efforts in? Which leads give us the best chance to win?
6 息 2018 Untitled Research. All Rights Reserved. Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation PIPELINE EFFORT TEAM SEASONALITY ASSESSMENT MARGIN COMPETITION STRATEGY CAPACITY CANDIDAT E POOL RISK PROCESS ECONOMY REVENUE Which leads should we invest our fulfillment efforts in? INDUSTRY Which leads give us the best chance to win?
7 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordered Contract Rate Verizon Analyst IT 3/14 6 Months $67 Jefferson Registered Nurse HEALTHCARE 3/1 12 Months $45 StrongSoft Application Developer IT 3/8 3 Months+ $90
8 息 2018 Untitled Research. All Rights Reserved. THE RECRUITMENT PROCESS REIMAGINED We can systematically learn from the history of our fulfillment activities and outcomes to help us make prioritization decisions in the future. untitled-research.com
9 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT PROCESS ReQue Feedback Loop Enabled Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation 1. Learn from historical fulfillment activity and outcomes using advanced analytic 2. Provide predictive insights for Prioritization of new incoming leads
10 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT ReQue Aided PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordered Contract Rate Placement Verizon Analyst IT 3/14 6 Months $67 54% Jefferson Registered Nurse HEALTHCAR E 3/1 12 Months $45 79% StrongSoft Application Developer IT 3/8 3 Months+ $90 12% ReQue predicting Placement Likelihoo
11 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT LEAD SCORING Lead scoring is a shared recruitment and business development process for identifying the hottest leads for placement-readiness. It is an invaluable tactic that many companies are struggling with. untitled-research.com
12 息 2018 Untitled Research. All Rights Reserved. INCREASE REVENUE SHORTEN RECRUITMENT CYCLE REDUCE EFFORT & AMPLIFY SUCCESS PREDICTIVE LEAD SCORING APPLIED AI Score recruitment leads in real time to determine their potential value and optimize effort by focusing on opportunities that are most likely to result in desired outcomes. All based on your own data and history. CONVERT MORE LEADS FASTER Spend less time chasing positions that score very low in terms of placement likelihood. Focus on filling positions with the highest likelihood to place and revenue potential. IMPROVE CONVERSION RATE By continuously focusing on placements with highest chance of success, key clients and business drivers get the attention they deserve. Understand impact of certain staff, clients and conditions on placement rate and employ strategies to optimize.
13 息 2018 Untitled Research. All Rights Reserved. LEAD SCORING IN RECRUITMENT EXTERNAL DATA YOUR DATA LEARNING SCORED JOB ORDER SEGMENTATION SORTING PRIORITIZATION NEW JOB ORDERS ACTION LEAD SCORING HOW DOES IT WORK - FLOW MODELS
14 息 2018 Untitled Research. All Rights Reserved. Likelihood that this opening will become abandoned. Abandonment Risk Likelihood that this opening will be filled by a competitor first. Competition Risk Likelihood that this opening will be canceled by client. Cancelation Risk Likelihood client will be satisfied with this placement, or predicted satisfaction rating. Placement Satisfaction Likelihood that candidate will be placed. Placement Likelihood Percent of profit generated by placement. Profit % Total revenue generated by placement. Revenue Likelihood that interview will be scheduled. Interview Likelihood OUTCOME METRICS LEAD SCORING ReQue can predict a variety of outcome metrics from the standpoint of a new incoming job order, based on existing user history of outcomes. X $ %
15 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT ReQue Aided PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordere d Contract Rate Placemen t Profit Revenue Verizon Analyst IT 3/14 6 Months $67 54% 38% $72K Jefferson Registered Nurse HEALTHCA RE 3/1 12 Months $45 79% 24% $113K StrongSof t Application Developer IT 3/8 3 Months+ $90 12% 42% $103K ReQue predicting Placement Likelihood, Profit % and Total Reve
16 息 2018 Untitled Research. All Rights Reserved. BROAD BENEFITS OF AI/ML In addition to in-line practical decision support, there are broad benefits delivered by the ReQue predictive models that transform business strategy. untitled-research.com
17 息 2018 Untitled Research. All Rights Reserved. LEAD SCORING IN RECRUITMENT INSIGHTS TYPICAL SIGNALS ReQue lead scoring models provide insights into key driving factors of outcomes, their strength relative to each other and relationship to outcomes. These insights enable deep organizational understanding of the importance of these characteristics in a job order. Remember the mess of concerns affecting our prioritization decision before? They are much easier to think about when organized and sorted. PIPELINE TEAM SEASONALITY ASSESSMENT MARGIN COMPETITION STRATEGY CAPACITY CANDIDAT E POOL RISK PROCESSECONOMY INDUSTRY 24% 13% 31% Lead Placement Rate: Industry FINANCIAL HEALTH IT 54% Predictive Signal Strength: Industry
18 息 2018 Untitled Research. All Rights Reserved. $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 Jan Feb Mar Apr May Jun Jul Sep Oct Nov Dec Placements Earnings 1 8 23 39 29 0.5 5.0 12.0 30.0 50.0 1 2 3 4 5 Effort Applied (%) Return on Effort (%) Strategic Insights Predicted Likelihood of Placement by Category Rating 26% 22% % of Jobs Not Worked LEAD SCORING IN RECRUITMENT ReQue strategic insights enable overview of recruitment activity in the context of the predictive assessment to enable understanding of efficiency gaps and opportunities for effort re-allocation.
19 息 2018 Untitled Research. All Rights Reserved. FAQ What is the most effective way to adopt predictive capability? Predictive systems perform the best when paired with human expertise. So the two biggest keys to successful adoption are (1) cross-organizational exposure and (2) measured roll-out with clear goals and feedback loops. PATH TO ADOPTION What is the risk associated with employing a system like JEMS? Part of the consideration has to be the possibility that any given prediction may be incorrect, there is always an element of risk. The key is to understand and quantify the risk with a controlled and measured rollout to collect real performance data which will inform the long-term risk mitigation strategy: a thoughtful business process that effectively pairs automated predicted intelligence with human expertise. BUSINESS RISK Can the models be trusted ? Thousands of models were build during the project using various perspectives to accommodate the breadth and complexity of the data. Over 700 data points were tested. The current generation of models reflect a solid balance between fit and generalization, and meaningfully tracks with key outcomes in testing. MODEL EFFECTIVNES & ACCURACY Can the solution scale and keep my data secure ? Solution leverages the latest technologies available for packaging application (containers) and is designed with scalability and security in mind. It can be deployed on premise or on cloud for the ultimate scalability and flexibility. SCALING & SECURITY Will these models still be relevant as my business grows and evolves? The models can be refreshed periodically to adopt to latest data. This process can be automated and the system can learn continuously. The scores generated by the model can further be used to derive custom metrics weighted by optimization factors to align with business goals. ADOPTION TO CHANGE How can I integrate the solution into existing IT infrastructure ? APIs make it possible to easily infuse predictive intelligence directly into existing IT systems. Real time scoring enables a job order to be automatically analyzed at any time with new or changing information. IT INTEGRATION
20 息 2018 Untitled Research. All Rights Reserved. CEO/FOUNDER Anthony Leshinsky Strategy + Data Science ABOUT ANTHONY Advanced analytics maven. Specializes in practical application of advanced data science techniques to help companies practically employ data science to drive outcomes. Content Valuation Data Products Data Science CTO/FOUNDER Miroslav Mar叩z Data + Technology The Architect ABOUT MIRO Data technology and architecture expert. Highly skilled and creative in designing high performance/efficient systems for unique business challenges. Technology DataArchitecture Meet the Team Untitled Research, LLC. The Scientist
21 息 2018 Untitled Research. All Rights Reserved. THANK YOU ! @UntitledResearch UR_Philly untitled-research.com

More Related Content

ReQue - Advanced Analytics for Lead Scoring in Recruitment

  • 1. 1 息 2018 Untitled Research. All Rights Reserved. ReQue Using AI to disrupt and optimize the Recruitment Process untitled-research.com Presents
  • 2. 2 息 2018 Untitled Research. All Rights Reserved. THE MACHINE REVOLUTION IN BUSINESS 61% of businesses said they implemented AI in 2017, up from just 38% in 2016 (Narrative Science, 2018) untitled-research.com AI/ML
  • 3. 3 息 2018 Untitled Research. All Rights Reserved. Initiatives, have invested in infrastructure to support its scale, and have clear business goals - achieve 3 to 15% percentage point higher profit margin. Of the over 3,000 business leaders who were interviewed as part of the survey, the majority expect margins to increase by up to 5% points in the next year. (Source: McKinsey Global Institute, Artificial Intelligence, The Next Digital Frontier) Higher Profits McKinsey found that companies who benefit from senior management support for AI3-15% BUSINESSES ARE ADOPTING AI/ML WHY A transformative shift from manual tasks performed by humans to automated processes powered by machines. EFFORT SHIFT The most powerful paradigm is a combination of deep subject matter expertise and data informed decisions. AUGMENTED INTELLIGENCE The process of developing and employing advanced analytics has strategic insight benefits beyond day-to-day ops. DEEP INSIGHTS AI is going to be as important to companies as cash flow is, Marc Cuban said. You have to be good at it or you wont be able to compete.
  • 4. 4 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT PROCESS TYPICAL Client Needs Open Requisition (Lead) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation Organizational Effort 80%20%
  • 5. 5 息 2018 Untitled Research. All Rights Reserved. Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation Which leads should we invest our fulfillment efforts in? Which leads give us the best chance to win?
  • 6. 6 息 2018 Untitled Research. All Rights Reserved. Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Leads Fulfillment Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation PIPELINE EFFORT TEAM SEASONALITY ASSESSMENT MARGIN COMPETITION STRATEGY CAPACITY CANDIDAT E POOL RISK PROCESS ECONOMY REVENUE Which leads should we invest our fulfillment efforts in? INDUSTRY Which leads give us the best chance to win?
  • 7. 7 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordered Contract Rate Verizon Analyst IT 3/14 6 Months $67 Jefferson Registered Nurse HEALTHCARE 3/1 12 Months $45 StrongSoft Application Developer IT 3/8 3 Months+ $90
  • 8. 8 息 2018 Untitled Research. All Rights Reserved. THE RECRUITMENT PROCESS REIMAGINED We can systematically learn from the history of our fulfillment activities and outcomes to help us make prioritization decisions in the future. untitled-research.com
  • 9. 9 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT PROCESS ReQue Feedback Loop Enabled Client Needs Open Requisition (Lead/ Opportunity) Assessment, Prioritization & Assignment Closure & Feedback Candidate Sourcing & Matching Submission, Interview, Selection & Evaluation 1. Learn from historical fulfillment activity and outcomes using advanced analytic 2. Provide predictive insights for Prioritization of new incoming leads
  • 10. 10 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT ReQue Aided PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordered Contract Rate Placement Verizon Analyst IT 3/14 6 Months $67 54% Jefferson Registered Nurse HEALTHCAR E 3/1 12 Months $45 79% StrongSoft Application Developer IT 3/8 3 Months+ $90 12% ReQue predicting Placement Likelihoo
  • 11. 11 息 2018 Untitled Research. All Rights Reserved. RECRUITMENT LEAD SCORING Lead scoring is a shared recruitment and business development process for identifying the hottest leads for placement-readiness. It is an invaluable tactic that many companies are struggling with. untitled-research.com
  • 12. 12 息 2018 Untitled Research. All Rights Reserved. INCREASE REVENUE SHORTEN RECRUITMENT CYCLE REDUCE EFFORT & AMPLIFY SUCCESS PREDICTIVE LEAD SCORING APPLIED AI Score recruitment leads in real time to determine their potential value and optimize effort by focusing on opportunities that are most likely to result in desired outcomes. All based on your own data and history. CONVERT MORE LEADS FASTER Spend less time chasing positions that score very low in terms of placement likelihood. Focus on filling positions with the highest likelihood to place and revenue potential. IMPROVE CONVERSION RATE By continuously focusing on placements with highest chance of success, key clients and business drivers get the attention they deserve. Understand impact of certain staff, clients and conditions on placement rate and employ strategies to optimize.
  • 13. 13 息 2018 Untitled Research. All Rights Reserved. LEAD SCORING IN RECRUITMENT EXTERNAL DATA YOUR DATA LEARNING SCORED JOB ORDER SEGMENTATION SORTING PRIORITIZATION NEW JOB ORDERS ACTION LEAD SCORING HOW DOES IT WORK - FLOW MODELS
  • 14. 14 息 2018 Untitled Research. All Rights Reserved. Likelihood that this opening will become abandoned. Abandonment Risk Likelihood that this opening will be filled by a competitor first. Competition Risk Likelihood that this opening will be canceled by client. Cancelation Risk Likelihood client will be satisfied with this placement, or predicted satisfaction rating. Placement Satisfaction Likelihood that candidate will be placed. Placement Likelihood Percent of profit generated by placement. Profit % Total revenue generated by placement. Revenue Likelihood that interview will be scheduled. Interview Likelihood OUTCOME METRICS LEAD SCORING ReQue can predict a variety of outcome metrics from the standpoint of a new incoming job order, based on existing user history of outcomes. X $ %
  • 15. 15 息 2018 Untitled Research. All Rights Reserved. CASE IN POINT ReQue Aided PRIORITIZATION CHALLENGE If fulfilment resources are limited, which of these positions should we work on filling first, second and third? Client Position Title Industry Date Ordere d Contract Rate Placemen t Profit Revenue Verizon Analyst IT 3/14 6 Months $67 54% 38% $72K Jefferson Registered Nurse HEALTHCA RE 3/1 12 Months $45 79% 24% $113K StrongSof t Application Developer IT 3/8 3 Months+ $90 12% 42% $103K ReQue predicting Placement Likelihood, Profit % and Total Reve
  • 16. 16 息 2018 Untitled Research. All Rights Reserved. BROAD BENEFITS OF AI/ML In addition to in-line practical decision support, there are broad benefits delivered by the ReQue predictive models that transform business strategy. untitled-research.com
  • 17. 17 息 2018 Untitled Research. All Rights Reserved. LEAD SCORING IN RECRUITMENT INSIGHTS TYPICAL SIGNALS ReQue lead scoring models provide insights into key driving factors of outcomes, their strength relative to each other and relationship to outcomes. These insights enable deep organizational understanding of the importance of these characteristics in a job order. Remember the mess of concerns affecting our prioritization decision before? They are much easier to think about when organized and sorted. PIPELINE TEAM SEASONALITY ASSESSMENT MARGIN COMPETITION STRATEGY CAPACITY CANDIDAT E POOL RISK PROCESSECONOMY INDUSTRY 24% 13% 31% Lead Placement Rate: Industry FINANCIAL HEALTH IT 54% Predictive Signal Strength: Industry
  • 18. 18 息 2018 Untitled Research. All Rights Reserved. $0 $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 Jan Feb Mar Apr May Jun Jul Sep Oct Nov Dec Placements Earnings 1 8 23 39 29 0.5 5.0 12.0 30.0 50.0 1 2 3 4 5 Effort Applied (%) Return on Effort (%) Strategic Insights Predicted Likelihood of Placement by Category Rating 26% 22% % of Jobs Not Worked LEAD SCORING IN RECRUITMENT ReQue strategic insights enable overview of recruitment activity in the context of the predictive assessment to enable understanding of efficiency gaps and opportunities for effort re-allocation.
  • 19. 19 息 2018 Untitled Research. All Rights Reserved. FAQ What is the most effective way to adopt predictive capability? Predictive systems perform the best when paired with human expertise. So the two biggest keys to successful adoption are (1) cross-organizational exposure and (2) measured roll-out with clear goals and feedback loops. PATH TO ADOPTION What is the risk associated with employing a system like JEMS? Part of the consideration has to be the possibility that any given prediction may be incorrect, there is always an element of risk. The key is to understand and quantify the risk with a controlled and measured rollout to collect real performance data which will inform the long-term risk mitigation strategy: a thoughtful business process that effectively pairs automated predicted intelligence with human expertise. BUSINESS RISK Can the models be trusted ? Thousands of models were build during the project using various perspectives to accommodate the breadth and complexity of the data. Over 700 data points were tested. The current generation of models reflect a solid balance between fit and generalization, and meaningfully tracks with key outcomes in testing. MODEL EFFECTIVNES & ACCURACY Can the solution scale and keep my data secure ? Solution leverages the latest technologies available for packaging application (containers) and is designed with scalability and security in mind. It can be deployed on premise or on cloud for the ultimate scalability and flexibility. SCALING & SECURITY Will these models still be relevant as my business grows and evolves? The models can be refreshed periodically to adopt to latest data. This process can be automated and the system can learn continuously. The scores generated by the model can further be used to derive custom metrics weighted by optimization factors to align with business goals. ADOPTION TO CHANGE How can I integrate the solution into existing IT infrastructure ? APIs make it possible to easily infuse predictive intelligence directly into existing IT systems. Real time scoring enables a job order to be automatically analyzed at any time with new or changing information. IT INTEGRATION
  • 20. 20 息 2018 Untitled Research. All Rights Reserved. CEO/FOUNDER Anthony Leshinsky Strategy + Data Science ABOUT ANTHONY Advanced analytics maven. Specializes in practical application of advanced data science techniques to help companies practically employ data science to drive outcomes. Content Valuation Data Products Data Science CTO/FOUNDER Miroslav Mar叩z Data + Technology The Architect ABOUT MIRO Data technology and architecture expert. Highly skilled and creative in designing high performance/efficient systems for unique business challenges. Technology DataArchitecture Meet the Team Untitled Research, LLC. The Scientist
  • 21. 21 息 2018 Untitled Research. All Rights Reserved. THANK YOU ! @UntitledResearch UR_Philly untitled-research.com

Editor's Notes

  • #5: The Fulfillment process is both iterative and massively multi-threaded compared to the Leads side.
  • #16: Link to 4, parallel timelines. Typical project. At the end of 2-4 week, what do you have in hand? Paths out of Discovery: cancel(refund), roll over(discount), new contract(negotiation), hold (hold)