A unique Open-Innovation driven talent screening system that combines talent identification with crowdsourcing to find new ideas. For more into: www.bioflukes.com
The Coffee Bean & Tea Leaf(CBTL), Business strategy case study
Innovators4Hire presentation
1.
2. (use of purposive inflows and outflows of knowledge to accelerate innovation )
3. Innovators4Hire is an open-innovation driven talent screening
system
that serves organizations to efficiently and accurately identify
talent,
along with idea generation
4. Conventional Recruitment Process
Resumes – Identifying a
Screening
Interview
Recruitment
Candidate’s Key
Emails Strength and
Applicants, Job Weaknesses (more
networks, etc. like guessing)
Professional Communication skills
Network Profiles Organizational Fit
Ability to recall from
References memory, etc.
5.
6.
7. 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
8. A process that is more than six decades
old
Was developed by industrial recruiters to hire employees to do
monotonous tasks
9. 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
10. 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?
11. Out of those hired, almost 50% will quit in
the first 18 months and only 19% will
achieve certain success
(Survey: LeadershipIQ)
12. Instead of encouraging innovation, the
process stifles it
Example: Pfizer & Sanofi Aventis,
13. Discourages Applicants from Applying in
the Future
By rejection without a valid explanation, a candidate will think twice before applying
again
14. 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
15. 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.
16. 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.
17. We provide an open stop
shop for talent identification
and idea generation via
Open-Innovation
18. 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
19. Challenges: are created by specialists specifically based
on extensive study of the recruiter’s current and future
requirements
20. 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
21. 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
22. 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
23.
24. 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)