CognitIOn by Modern Hire Launches to Highlight Need for Ethical, Transparent Hiring Approach
Modern Hire, the all-in-one enterprise hiring platform that enables organizations to continuously improve hiring experiences and outcomes with trusted science and technology, unveiled CognitIOn by Modern Hire.
CognitIOn by Modern Hire is the company’s industry-leading science, represented by its capabilities and expertise in data science, predictive analytics, artificial intelligence, and industrial-organizational (I/O) psychology. It is also built on Modern Hire’s deep experience with HR and hiring process, legal know-how and candidate focus, representing the deepest and broadest talent intelligence available to hire the most diverse, engaged and qualified workforce.
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“Our team of Ph.D. data scientists and industrial-organizational psychologists are the best in their field and absolutely integral in everything Modern Hire does,” said Mike Hudy, Ph.D. and Chief Science Officer at Modern Hire. “The rigorous and ongoing science powered by CognitIOn by Modern Hire enables our clients to make more personalized, data-driven hiring decisions and provide a superior candidate experience. This launch reaffirms our commitment to driving research and innovation in our field while delivering practical new ways of measuring and understanding human performance in the workplace.”
CognitIOn by Modern Hire is powered by tens of millions of annual candidate interactions, practical application of advanced AI techniques, and nearly two decades of diligent, data-driven client research and practice by the company’s 40+ Ph.D. industrial-organizational and data scientists. By combining comprehensive expertise in I/O psychology, talent selection science, diversity and fairness, candidate experience, the practical application of ethical AI, data science, advanced analytics, and employment law, CognitIOn by Modern Hire empowers its enterprise clients – including 47 of the Fortune 100 – to make more transparent, predictive, engaging and fair hiring decisions.
CognitIOn by Modern Hire is embedded in all of the company’s products and innovations, including its Automated Interview Scoring (AIS), an on-demand video interview feature that uses AI to evaluate candidate responses and provide recruiters and hiring managers with recommended scores to ensure a more fair, unbiased and complete hiring experience. AIS is currently available to existing clients as part of an Early Access Program and will go to general release later this year.
AIS uses proven science, natural language processing (NLP) and deep learning to reliably replicate the judgment of professionally trained experts. While most models of this type are deployed with a 60% reliability factor compared to humans, Modern Hire presented scientific study results showing that AIS received a reliability score of 89% at a recent Society of Industrial-Organizational Psychology event – proving that AIS arms interviewers with a tool that enables more consistent, accurate, efficient and fair hiring decisions.
“Interviewing is a traditionally subjective and biased process. Through no fault of their own, interviewers incorporate factors not related to the job into their evaluation of candidates,” said Eric Sydell, Ph.D. and EVP of Innovation at Modern Hire. “AIS removes the subjective, biased nature of the interviewing process by focusing only on the job-relevant aspects of candidates’ responses and evaluating every candidate on the exact same criteria. This creates a more transparent, ethical and consistent hiring process, while still enabling the interviewer – not the AI – to make the final decision.”
CognitIOn has been leveraged by Walmart, Amazon, CVS Health and Bank of America to win four of the last five prestigious Human Resource Impact Awards from SIOP and SHRM. These awards recognize each organization’s hiring solution for saving millions of dollars annually in reduced turnover, saving decades of hiring manager time in increased efficiency, supporting extremely high-volume hiring, and delivering an innovative and engaging candidate experience.
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