Aside from finding the right talent, one of the biggest challenges employers face during the hiring process is actually making time to sift through an inbox full of resumes.
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Enter HireVue. The digital recruiting platform allows employers to conduct on-demand digital interviews with applicants that fit the bill—pause, fast forward and rewind included. Users can also share with colleagues. Clients include Wal-Mart, Ocean Spray and Dow Jones, as well as smaller enterprise companies.
Founder and CEO Mark Newman says the Talent Interaction Platform saves companies their most precious resource—time. It also provides the opportunity to complete both live and pre-taped interviews.
“We focus on the interview interaction,” he says. “This casts a wider net [for employers] and can be the alternative for an in-person interview in a lot of cases. Ultimately recruiters and hiring managers never want to make a decision on limited information. This saves them time so they can focus on growing their business.”
And it’s an important opportunity for candidates who may have otherwise not gotten the opportunity to interview in person, Newman says.
“This gives people a shot at telling what they are, what their story is and what they care about,” he says. “And to do it in a way that is relevant to them, with the questions that they care about.”
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HireVue was named one of Inc. Magazine’s top 500 fastest-growing private companies in 2013. Over the past three years, the company has raised $48 million in funding and currently has 150 employees. Newman says the company’s goal is to double its growth in the year ahead.
It also just made its first major acquisition of Reschedge, a maker of interview coordination software that assesses schedules, location availability, interview priority and sequencing to help find available times to coordinate companies and applicants. Newman declined to disclose the acquisition amount, but said the software works seamlessly with HireVue’s technology.
“This is a scheduling algorithm that works in one click,” Newman says. “Doing what we do in going back and forth scheduling [between job seekers and employers], it was a great philosophical alignment. It’s getting scheduling done in ten minutes instead of ten days.”
But being a talent acquisition platform doesn’t mean HireVue is excused from its own hiring woes, Newman says.
“We have our own talent acquisition problems,” he says. “How do we make sure we have the right people on the team at the right time? That we are singing from the same hymnal? We have to work really hard on identifying who is it that will be really successful at HireVue, what is our culture, and how to we align our culture with the core guiding principles of the company to propel us forward.”
And is an IPO in the cards with that forward movement? Newman won’t say.
“We want to focus on building a great, enduring company,” he says. “And that is probably a part of the journey. We will see how that shakes out over the next couple of years.”