Searchlight's latest talent recommendation engine, commonly known as tracypredicts hires 4x better than interviews
San Francisco, November 14, 2023 /PRNewswire/ — Searchlight, the leading talent intelligence company, today announced the general availability of version 2.0 of its AI platform to usher in a new era of trust and efficiency in the recruiting process.What is called the new AI engine tracyyour personalized talent recommendation agent, is the result of five years of product research, Searchlight customer feedback, and hundreds of thousands of data points on candidate and post-hire success in a variety of roles.
“As executives seek more efficient ways to grow their businesses, talent leaders and recruiters are finding the best fit for open roles with fewer resources while having a larger candidate pool. “That pressure is increasing,” he said. Kelly Wang, CEO/Co-Founder of Searchlight. “Our goal is to tracy It's about reinventing the hiring paradigm by combining AI with human expertise, industrial-organizational psychology, and behavioral science to ensure you create high-performing teams while running as efficiently as possible. ”
tracy It has been tested on thousands of candidates who have passed through Searchlight over the years. Data shows that the AI engine can identify matches and mismatches among top candidates four times more accurately than traditional recruiting methods.
tracy It provides recommendations and concise explanations to streamline manual tasks, allowing recruiters to advise companies and help them make decisions with confidence. That is, tracy is already helping customers with the following use cases:
- Filter the top applicants from thousands of candidates based on their likelihood of success after being hired
- Eliminate the need for interviews such as cultural interviews and hiring manager selection
- Identify the skills and behaviors of top performers to find the best fit within your candidate pool
- Save recruiters and managers time and effort when making talent decisions and improve your business
“Today's recruiting efforts are time-consuming and manual, making it difficult for talent teams to deliver consistent results.Searchlight's technology saves time, delivers a great experience, and “It's a cutting-edge technology that leverages AI to provide empowering intelligence. Human decision-making is now better.” Anna Wang, CTO/co-founder of Searchlight. “Searchlight combines LLM, machine learning algorithms, and a proprietary organizational model with a deep understanding of candidates' work styles, soft skills, qualifications, and job requirements to match talent to unique organizations.”
With the release of tracy, Searchlight now has 80% accuracy in recommending top candidates. This is on average four times more accurate than the average structured interview. Searchlight's unique skills ontology and assessment capabilities have been expanded to include more skills, attitudes, and behaviors that are critical to on-the-job performance. Searchlight's data pipeline is now powered by Large Language Model (LLM), which provides step function improvements for processing, classifying, and enriching data.
“We have relied on Searchlight for our recruiting needs and have found that we can fill open positions faster while reducing employee turnover,” he said. kimberly johnson, director of talent acquisition at Epika Fleet Services. “Searchlight has partnered with me to simplify, automate, and personalize many of our recruiting efforts. This competitive edge makes a huge difference. We look forward to experiencing its power. I am.” tracy This humanizes the candidate hiring process while enabling our business to make better, data-driven talent decisions. ”
Searchlight embeds artificial intelligence into recruiters' and hiring managers' workflows and existing tools to analyze candidate data and surface the best candidates. Without this, recruiters and hiring managers would spend weeks reviewing resumes, interviewing, and debriefing before hiring. The company's AI systems are continually evaluated through internal data reporting and regularly through independent third-party audits by legal, policy, and technology experts. With Searchlight, customers can be confident that their recruitment process will be less biased, more effective, and compliant with current and emerging laws and regulations.
Searchlight works with over 100 companies, from Fortune 500 companies to startups, including Udemy, GoodRX, and Upstart. According to the data, the company helped customers fill open roles 40% faster and retention rates increased by 25%.
For more information, tracyread here.
About searchlight
Searchlight is a talent intelligence platform that helps companies hire better talent, faster. Searchlight provides unbiased AI to find top applicants, evaluate candidates, and verify quality of hires. Its unique learning loop leverages employee performance data to better match subsequent hires to your organization. With the right people in the right roles, everyone can win. Founded in 2018 by twin sisters Anna and Kelly Wang, Searchlight is backed by top investors including Founders Fund, Accel, and Y Combinator. For more information, please visit Searchlight.ai.
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Praxcomm Strategy for Searchlight
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