innovators4hire presentation
DESCRIPTION
A unique Open-Innovation driven talent screening system that combines talent identification with crowdsourcing to find new ideas. For more into: www.bioflukes.comTRANSCRIPT
Open-Innovation Driven Candidate Screening and Idea
Generation Platform
Open – Innovation(use of purposive inflows and outflows of knowledge to accelerate innovation )
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Talent Screening
Innovators4Hire is an open-innovation driven talent screening system
that serves organizations to efficiently and accurately identify talent,
along with idea generation
Candidates are judged based on the quality and innovativeness of their solutions to custom designed challenges or real world problems faced by
organizations.
Screeni
ng
Resumes – Emails Applicants, Job networks, etc.Professional Network ProfilesReferences
Intervi
ew
Identifying a Candidate’s Key Strength and Weaknesses (more like guessing)Communication skillsOrganizational Fit Ability to recall from memory, etc.
Recruitment
Conventional Recruitment Process
Problems With Conventional Screening
Problems With Conventional Screening
Almost 80% of ideal candidates are lost in the
very first stage
Without even giving them a chance to prove what they are capable of
Problems With Conventional Screening
A process that is more than six decades old
Was developed by industrial recruiters to hire employees to do monotonous tasks
Problems With Conventional Screening
Inept for gauging innovative, critical thinking and problem solving
abilities
which matter for a job that requires the employees to tackle challenges and take actions on their own
Problems With Conventional Screening
Takes into account only past achievements
Traditional measures of past achievements have proven to be ineffective at assessing candidates. What if the achievements of
a candidate are yet to come?
Problems With Conventional Screening
Out of those hired, almost 50% will quit in the first 18 months and only 19% will achieve certain success
(Survey: LeadershipIQ)
Problems With Conventional Screening
Instead of encouraging innovation, the process stifles it
Example: Pfizer & Sanofi Aventis,
Problems With Conventional Screening
Discourages Applicants from Applying in the Future
By rejection without a valid explanation, a candidate will think twice before applying again
Problems With Conventional Screening
Last but not least
An extremely time consuming process
Senior employees have to spend considerable time in interviewing the screened candidates, wherein various preconceived personal bias lead to inefficiently in their assessments
Problems With Conventional Screening
Screening is the first and the most important stage of a recruitment process.
Candidate numbers range from hundreds to even thousands for a single post.
The probability with the conventional method of screening out the right candidates is extremely low.
Why is Screening Important?
One firm put the disguised
resumes of their own top
eight engineers through their
corporate resume screening
process and surprisingly they
found that only two would
have been called in for an
interview.
Example
We provide an open stop
shop for talent
identification and idea
generation via Open-
Innovation
About Innovators4Hire
By streamlining the entire process of talent
screening and by simplifying the steps, we
provide organizations and easy and cost effective
way to tap open innovation for their
organization’s benefit
We cancel out noise from the application process
and help them find great people and ideas
Challenges: are created by specialists specifically based on extensive study of the recruiter’s current
and future requirements
Challenges: are created by specialists specifically based on extensive study of the recruiter’s current and future requirements
Publishing: Challenges are placed on Innovators4Hire’s website and solvers are invited
to submit their solutions via Innovators4Hire’s own network of innovators, research networks, social networks, blogs and other means of marketing
Challenges: are created by specialists specifically based on extensive study of the recruiter’s current and future requirements
Publishing: Challenges are placed on Innovators4Hire’s website and solvers from around the world are invited to submit their solutions via
Innovators4Hire’s own network of innovators, research networks, social networks, blogs and other means of marketing
Environment: Creating an environment that informs and attracts the best solvers
Challenges: are created by specialists specifically based on extensive study of the recruiter’s current and future requirements
Publishing: Challenges are placed on Innovators4Hire’s website and solvers from around the world are invited to submit their solutions via
Innovators4Hire’s own network of innovators, research networks, social networks, blogs and other marketing means
Environment: Creating an environment that informs and attracts the best solvers
Screening: Submissions are accepted, screened and evaluated based on various parameters
The need to ask the right questions the right way is
extremely essential in designing challenges
The Open Challengeor QUEST
What makes up a Challenge?
A real world problem faced by your
organization
A set of questions whose answers are not
available on Google or else where
Eg: In electrophoresis: What natural substance other
than starch can replace the electrophoresis gel?
Videos or pictures asking the applicant’s
to indentify problems in a process.
Modification of a real world problem (in
case of IP related issues)
An artificial puzzle or a problem designed
to test the true abilities of a candidates
Calling for new business ideas that can
be pursued in the future
A new algorithm designed to particular
requirements (for bioinformatics)
The Open Challengeor QUEST
Reducing the number of applicants drastically
Finding candidates who are:• Innovative• Self motivated• Have advanced critical thinking abilities• Are able to learn and adopt rapidly• Resourceful
Identifying candidates who are passionate and self motivated to work for your organization
Using Open-Innovation for generating potential ideas and solutions to your organization’s problems
Saving time & effort: Instead of interviewing a few dozen, recruiters interview only need to interview a handful of people
Creating a leveled competing field for both inexperienced as well as experienced candidates
Advantagesof
Innovators4Hire
Open innovation is the use of purposive inflows and outflows of knowledge to
accelerate internal innovation.
“Open innovation is more about mindset than a
toolbox” - Forbes
Open-Innovation
Organizations Providing Open Innovation Services
Innocentive NineSigma Innoget One Billion Minds TekScout IdeaConnection Yet2.com Presans Hypios Idea Bounty Innovation Exchange Atizo Challenge.gov Big Idea Group
Average Cost of accessing services of any of the above: $11,000
Open-Innovation
Companies regularly using puzzles and challenges to
screen talent:
Google Facebook Quixey Mattle Marketing Firms US Army Microsoft Harrah’s Nationwide Quora Box EMC2
Organizations Using Puzzles to
Identify Talent
In an experiment conducted by Roche, a challenge was given to two different groups of people
One was its own network of scientists
The second one invited outsiders to solve the same
From its own group of scientists, only 1 really good proposal was received,
While from the external group of solvers emerged 130 really good proposals from around the world
Case Study in Open Innovation:
Roche
Syngenta’s open-innovation approach to solving its problems in the three years has resulted in an ROI of 183%, with a payback period of fewer than two months
Case Study in Open Innovation:
Syngenta
In 2001 P&G embarked on their Connect and Develop open innovations strategy. At that point, less than 10% of their new initiatives involved external innovation partnerships.
By 2008 Connect and Develop had become a fundamental part of business within P&G, bringing in almost all of the company’s new products and services.
The financial results were impressive too: annual earnings-pershare growth for 2001-2008 were targeted at 10% and averaged 13%. The retooled strategy drove seven consecutive years of organic sales growth ahead of targets, in the 6% range every year.
Case Study in Open Innovation:
P&G
Contact Us
Website: www.bioflukes.comBlog: www.reinventrecruiting.blogspot.in Email: [email protected] [email protected] [email protected]
Ph: +918553268648 (Mahboob )
Skype: mahboob_skype
We look forward to hearing from you
You give us your problems and we will give you the
solution along with people who are capable of
putting this to action
We look forward to hearing from you
“HIRING THE BEST IS YOUR MOST IMPORTANT TASK”
- STEVE JOBS