Faced with an environment that was increasingly data and technology driven, a multinational banking and financial services company needed to find a more effective way to attract and recruit adaptive college graduates. The previous hiring process was limiting in the diversity of talent it considered. It was also too lengthy, which impacted candidate experience and caused the company to lose out on quality graduates.
The company first worked with pymetrics to build a model of what success looked like through the lens of both performance and values that are important to the organization.
Then, applicants were invited to play the pymetrics exercises instead of having to submit their CVs or complete a self-report cognitive assessment. Candidates who were identified as “highly recommended” were automatically progressed to the next stage. Importantly, pymetrics acts as a ‘blind audition’ for each candidate with their name, gender, ethnicity, specific university and any self-reported disabilities excluded from the process.
The company launched the redesigned process for their 2020 Graduate Program. It drove a 48% increase in applications and supported a wider outreach to over 4,000 candidates. Even with the increase in volume, pymetrics matching engine and audited AI helped to reduce the number of recruiter screenings by 50% – equivalent to 275 hours or seven weeks of a single recruiter’s time saved.
In terms of candidate experience, pymetrics’ shorter and more engaging gameplay returned an incredible 99.6% in registration rate and 99.7% in completion rate. Overall satisfaction levels with the process stands at 95%.
Lastly, the company saw significant uplifts in the diversity of their hires and not just in gender. The company reported that the number of offers to candidates from non-top-tier universities (which is a proxy for socioeconomic status) increased by 11%.
Overall, pymetrics was able to help the company build a more robust and fair graduate recruitment process that reflects their commitment to embracing new thinking and new technology.