2014 Top Product Winner: HireVue Insights
See all the winners of the Top HR Products of 2014 in Leading the Way.
What It Is: HireVue Insights uses patented algorithms to evaluate what's worked for organizations in terms of candidate hiring in the past and uses the data to make better hires in the future. Insights uses a patented analytics engine known as Iris, which was built from approximately 3 million interview responses. Iris' algorithms discover various attributes that predict performance, then scores candidates on how they compare to existing top performers. In addition to scoring candidate interviews, the product also allows organizations to identify interviewers who are finding top performers. Companies can then use that information to determine which interviewers might be in need of coaching. HireVue Insights works in conjunction with the company's Talent Interaction Platform; it requires an additional charge to activate. Subscription cost varies based on company size and complexity, with unlimited access starting at $2,000 per month.
Why We Like It: Data analytics is impacting HR on pretty much every front these days -- so it's no surprise several top HR product entries this year would tout the use of analytics to improve the hiring process. There isn't an HR leader out there who isn't aware of the high cost of a bad hiring decision -- so getting the process right isn't just a nice-to-have, but a business imperative. With its release of Insights, HireVue is taking analytics to the next level, giving companies the ability to analyze a unique set of interactions and feedback to discover patterns and identify attributes that predict performance, and then use that data to score individual job candidates. Especially impressive is the tool's ability to score interviewers, thereby giving the employers the ability to identify those interviewers who are delivering results and those who may need further coaching. These features make for a compelling tool that's clearly worth a closer look.
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