Ovum (News - Alert), a provider of independent and objective analysis, recently published the ‘On the Radar’ report that lists up-and-coming companies that are capable of bringing potentially game-changing ideas, products, or business models to their respective markets. The report identified predictive analytics and virtual talent acquisition solutions provider HireIQ as one of those companies.
Keith Dawson (News - Alert), principal analyst in Ovum’s Enterprise practice, commented, “HireIQ has demonstrated significant and measureable value by enabling companies to amplify their own best practices by making the selection of high-quality customer service professionals a predictable, replicable, and scalable task. The company not only makes it easier for enterprises to expand their talent pool and reduce the time spent on early-stage screening, its solutions help organizations provide a better service experience to its customers by more closely aligning the hiring process with observed performance and tenure outcomes.”
HireIQ explained that it offers SaaS (News - Alert)-based on demand interviewing and assessment solutions that are designed to improve hiring efficiency, lower attrition, and improve workforce performance. Its tools can automate the agent pipeline, allowing businesses to more rapidly sort through a bigger pool of candidates and find people who are likely to stay in the job longer.
Ovum in its report indicated that though there are several competitors for HireIQ in the workforce optimization market, they are more likely to acquire from or partner with HireIQ.
HireIQ employs a methodology that uses existing technology in new ways and applies it to a management problem that has been intractable for so long that many people are simply conditioned to accept an unsatisfactory status quo. Its solutions are built around modules for virtual, automated interviewing and scoring, and can easily meet employee retention and operational performance requirements of a company.
Kevin Hegebarth, vice president of marketing at HireIQ, added, “Hiring customer service professionals costs the service industry over six billion dollars annually. Much of this cost is attributable to turnover of existing staff which can be greatly reduced by better alignment between the pre-employment process and measured performance outcomes. Clients who use HireIQ report significant improvements in observed performance and employee retention, resulting in significant reductions in recruiting, training and onboarding costs as well as a considerable increase in operational performance and customer satisfaction.”