Two years ago, we started Upsider to make the hiring process more predictable and data-driven. We spent nearly 15 years hiring and building our own teams, and our initial blog post discussed how frustrated we were with the hiring process – ponderous, labor-intensive, unpredictable, expensive. It was the hardest part of our jobs, to be honest. We weren’t sure how to fix it, but given our own less-than-pleasant experiences, we knew it needed to be done.
Our founding team has extensive backgrounds with the data-driven solutions available to marketers and investors. So we thought, why not apply a similar data-driven model to the world of recruiting?
In our initial attempt to solve this problem, Upsider started by manually recruiting for a handful of companies, using a data-driven approach to introduce roles and candidates. This process was very successful, so we built technology to automate the process, which came in the form of a sales-specific hiring marketplace. This business performed well (getting to breakeven one month post-launch), but in our hearts we felt like we weren’t addressing the problem at a deep enough level, so we took another look at the issues.
Going Deeper with Data & Artificial Intelligence
After talking with nearly 100 recruiting teams about their day-to-day process and pain points, we heard a few reoccurring themes as root causes of recruiting inefficiencies:
- Headcount plans typically come top-down, with little to no consideration for available internal recruiting resources and marketplace considerations.
- Recruiters spend 60-85% of their time just trying to identify candidates that meet top-down requirements, which is a very manual and repetitive task.
- Recalibration of hiring requirements based on market availability is slow and drives a lot of wasted recruiting efforts.
- If hiring timelines start slipping, it can lead to expensive options like 3rd party recruiters.
To address these problems at a more impactful level, we knew we could deliver a set of data-driven productivity tools to provide better visibility into talent pools, and automate a lot of the repetitive work that recruiters have to do every day. So we doubled down our candidate-employer matching algorithm, adding more sophisticated Artificial Intelligence (AI) functionality, and applied it to a data set of millions of candidates. We built an easy-to-use interface to allow clients to quickly execute their recruiting efforts. This combination of data, AI, and software enables recruiters to:
- Accurately forecast time and resources required to hit hiring goals.
- Automatically identify target candidates in any city in the US.
- Automate the outreach to those candidates to improve conversion rates.
The new Upsider platform automates 90% of the work from job requisition to screening calls. The platform specifically addresses the biggest pain points we heard from recruiters, and initial results have exceeded our lofty expectations. A few examples:
- A cloud infrastructure provider leveraged the Upsider platform to have an immediate impact on their hiring speed. Upsider candidate-identification AI allowed them to increase their sourcing velocity by 4x, freeing up their recruiting team to spend more time on strategic and customized outreach. They were able to use fewer recruiters on the roles while filling the hiring funnel 5x faster, increasing their candidate pipeline flow from 2 interviews per week to 10 per week.
- In a thirty-day head-to-head test of person vs machine sourcing, the Upsider platform produced four times more candidates than any of the human recruiters in the test.
- A SaaS company maximized their recruiting efficiency with the Upsider platform, increasing their candidate conversion rate 5x with the use of more data-driven messaging and automation.
Time, experience, learnings, insights. Two years is a lifetime in many ways. Upsider has come a long way and we are super excited to bring our Recruiting Management System to market. The initial impact has been impressive, and we look forward to helping more companies increase the efficiency and predictability of their recruiting efforts.
Get More Information
If you’d like to see how Upsider can impact your recruiting efforts, please schedule a demo.
To learn how Artificial Intelligence is solving the biggest recruiting efficiencies, click here to get a copy of the informative whitepaper “Impact of Artificial Intelligence on Recruiting”.