KareerMatrix is an Open, End to End Digital hiring platform and it connect candidates to new opportunities in any location by accelerating the “sourcing to hire” cycle for businesses.
2. About KareerMatrix
a. KareerMatrix is an Open, End to End Digital hiring platform and it connects candidate to new
opportunities in any location and accelerates the “sourcing to hire” cycle for businesses.
b. KareerMatrix is generating revenue and will be a Rs 322 CR ($50M revenue) company in 5 years.
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3. Some Research• 80% of resumes contain misleading statements.
• 92% of entry level graduates lie in their resume.
• 250 applications received per job posting.
• 6 seconds recruiters spend on scanning one resume.
• 5 minutes’ recruiter claims to spend on scanning one resume.
• 45 Seconds ideal time to scan one resume.
• 75% of applications are not qualified at all received on job posting.
• 40% of the organizations believe that job boards will be replaced in next 3-5 years.
• 10-12 people interviewed for hiring one candidate.
• 25% is the turned out rate in interview, inviting 4 means only 1 candidate appears.
• 30 minutes’ time spend in scheduling one telephonic or face 2 face interview.
• Video is the preferred tool by HR for collaboration rather than email.
• 56% businesses think video as most preferred business communication method.
• 32% Companies investing in video interview solutions.
• Voice communication preference is 32% in compare to 56% of Video.
• 47% of people having prior experience with video interview prefer video interview.
• 67% people prefer video interview who received first time video interview request.
• 65% of candidates preferred using video interview during interview process.
• 74% of recruiter and 60% of hiring managers thought video interview have made their life easy.
• 80% is the joining rate after selection and providing offer letter.
• 10% is the final selection rate after interviewing invited candidates.
4. The Problem
a. For businesses
a. Scanning millions of resumes.
b. Decision based on guts rather than data.
c. Talent availability in different locations.
d. Best Fit OR Right Fit.
e. No talent predictive information available.
b. For candidates
a. No easy access to opportunities in different locations
b. Lost in millions of Resumes.
c. No platform for differentiating from crowd quantitatively.
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5. 14 Hours 54 Minutes Per HireTime
• Post the job on job boards.
• Capture the applications and screen them one by one.
• Short-list the candidates for next round of interview.
• Schedule 30 candidates for face to face interview after calling them one by one.
• 10-12 Candidates appears in interview. Suppose there is only one round of interview.
• Finally, 1 offer released.
See more details in case study.
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6. Technological Innovation
• Artificial Intelligence
• To generate predictive analytics using machine learning.
• Identify test taker confidence in video interrogation.
• Identify emotional quotient during video interrogation using machine learning.
• Employability Factors like Personality Factors.
• Role based personality tests.
• Global employability test like SAT in US to take admission, similarly in corporates to enter.
• Virtualization
• Remote coding collaborative interviews without anything installed, just on browser.
• Dedicated interview platform.
• Talent Predictability Analytics
• Hiring decision should be based on data rather than guts, so we are doing that.
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7. What & How
Sourcing
Providing/Building database of Fresher, Experienced, All
Engineering streams, MBAs, Diplomas and other simple
science, commerce, and art graduates which is being built
via.
• Online proctored employability assessment.
• AptitudeTest
• Domain/SkillTest
• Role based personality test
• Online open coding competitions.
Screening
Providing different screening tools to businesses to assess
candidates.
• Online video and collaborative coding interview.
• CODE2HIRE :Tool to assess candidates via coding
exercises rather on objective tests.
• Assessment : Conduct online test using Kareermatrix
platform and question bank for all engineering streams,
management streams, Diplomas and all simple
graduates.
• OPEN-CODE : An open platform where businesses can
create and publish OPEN code event, where anybody
can appear and get opportunity based on score.
• PersonalityTest : Roles based personality test which is
different for sales and engineering, also different for
entry, middle and top executives.
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8. 4 hours 15 Minutes Per HireTime
• Short-list the candidates from Kareermatrix platform quantitatively. Say above 95% in Java technology
only. IncludingActive and Passive job seekers.
• Send them invite for next round of assessment in form of MCQ or Coding exercise with or without
controlled environment. Preparation of exam is just a matter of few clicks.You may skip this step as
candidates are already rated by Kareermatrix.
• Short-list the candidates from submitted responses of exam based on desired parameters by just one click.
Say 10 candidates short-listed.
• Schedule the interview of 3-5 candidates by calling 7-10 candidates as per their convenience. It will take less
than or equal to 15 mins per interview schedule.
• Conduct video interview with 3 candidates with average interview time duration of 60 minutes, reason
being more qualified candidates are in compare to traditional approach.
• Finally, 1 offer released.
See more details in case study
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9. 10 Hours 39 Minutes, Value Addition
• Passive job seekers are being targeted.
• Data driven hiring takes place instead gut.
• Reach geographically dispersed candidates.
• Reduced travel cost.
• High rate of interview conversion.
• Shortens the time to hire.
• Save $5000 business loss in worst case.
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10. BusinessVerticals
• Enterprises & Integrations
• ATS
• Success Factor
• HRMS/HRIS
• Others
• Institutions/Universities
• KAT – Kareermatrix Adaptive Test
• Practice/Codeathon Employability Test
• Open Coding Events.
• Corporates/Recruiters
• Pre-Hire Assessments
• Open Coding Events
• Pre-Assessed Short-listing
• Video Interview
• BOT Interview
• Consumers Business
• KAT – Kareermatrix Adaptive Test (Online Controlled Environment)
• Open Code Event
• Government (NSDC)
• Assessments
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14. Current Status Of Product and GTM.
• KAT – KareermatrixAdaptiveTest – An Employability Assessment For Institutions
• Sold to 50+ institutions on paid basis and another 200+ on trial free.
• Generated revenue of 26 lacs.Team already placed in respective regions Delhi NCR, Punjab, MP, Rajasthan, West Bengal and
Orissa.
• Online CodingVideo Interview
• Started selling to customers. Generated 1 lacs revenue so far in last 15 days.
• Getting good response and to invest more in Digital Marketing.
• Open Code (Online open coding events for all)
• Shipped beta version.
• To generate traffic to site using digital marketing. Pure SaaS based model is the differentiator which reduces its price
exponentially. Easy for customers to buy in retail model.
• Company based (FREE to company) online events with Prizing.
• CodeTo Hire (Coding exercises for fresher and lateral hiring, with or without recording)
• Shipped Beta version. Need to invest more money in Digital Marketing.
• Paid 10+ customers are ready to use, currently using trials. Retail sale will be more effective.
• Good amount of space available. Becoming need of an hour in hiring tech profiles.
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15. Current Status Of Product and GTM Cont..
• B2B HiringAssessment
• Generating revenue. New features of two way proctoring added recently.
• 10+ Paid customers already.Getting good amount of leads to sell digitally.
• Personality Assessment (Profile/Role Based)
• Shipped beta version 15 Jan.
• 15+ Customers are ready to buy immediately.
• Lots of ready to use customers and can be reached Digitally easily. Buzzword now a days. Role based personality assessment is a key
differentiator.
• KAT – Kareermatrix AdaptiveTest,An Open Employability Assessment for entry level graduates on PAID basis under controlled
environment using technology.
• Under Development
• Customer to be reached digitally by infusing a little big investment. Student data purchase, communicate them the opportunities behind the test.
• BOT Interview
• Under Development
• Using AI and deep learning to generate predictive analytics.
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