Below is our recent interview with Pawan Lokwani, Co-Founder of Recruitment Smart:
Q: What is Recruitment Smart?
A: Recruitment Smart Technologies (RST) is a technology-centric product firm delivering smart Talent AI solutions. Working with large corporations with significant recruitment flow, RST delivers Talent automation using game-changing, disruptive artificial intelligence (AI) for recruiters to effectively find, qualify and hire the best talent before their competitors. It helps to remove bias and improve diversity and inclusion.
Talent solution – Sniper AI – uses AI principled machine learning algorithms to dramatically streamline the recruitment process: key deliverables being market-leading accuracy, speed, and economy. Further, RST has a conversational AI solution – JeevesAI for superlative candidate experience. The intuitive technology and path-breaking machine learning algorithm build on traditional keyword search tools to overhaul the recruitment process for both enterprise and agency clients.
To deliver a Diversity and inclusion solution, RST has developed an equitable hiring solution that helps enterprises to improve diversity hiring. A global utility firm based in the US has been using it for over 12 months and has seen considerable improvement in the hiring funnel.
In recognition of the RST solution landscape, they boost key clients like ATOS, NRG, Natwest, SocGen, Alfuttaim, COLT, Siam Cement, etc.
Q: Any highlights on your recent announcement?
A: We are excited to announce that the team of Recruitment Smart has made it to the list of Finalists in the Tiara Talent Tech Star Award 2022 by Talint Partners for the DE&I Category. The award recognizes and celebrates excellence in the recruitment and talent acquisition industry. The jury at Tiara Talent Tech Star Awards has selected us by focusing on employee excellence, innovation, customer service, business growth, and the purpose of the participating entities.
This recognition is for our Equitable Hiring Algorithm that is actively helping our clients in mitigating unconscious biases that creep into the system at the talent acquisition stage with 3 key formulations- Bias Checker, Blind Hiring, and Job Description Templatization. The Equitable Hiring Algorithm of Recruitment Smart has been lauded by our global clients for its exceptional capability of employing Artificial Intelligence to help them achieve their Diversity and Inclusion goals. This feature has played a key role in the Diversity and Inclusion strategies of most of our clients.
Q: Can you give us more insights into your offering?
A: Recruitment Smart’s AI-driven talent intelligence platform provides an end-to-end solution for talent management through AI and analytics to enhance operational efficiencies, reduce the cost of talent management and improve brand equity and talent stickiness. We provide ease in transformation through seamless built-in integration with ATS that prevaricates the need to facilitate and manage separate solutions and ensure that all talent intelligence is fed onto the ATS thereby providing more strategic value to the recruitment process.
Following are the tangible transformation that our clients are witnessing by employing our talent intelligence platform to transform and automate their hiring process.
- Improvement in recruitment productivity by more than 53% and reduction sourcing cost by 37%
- Elimination of the initial funnel noise by a factor of over 60%
- Over 3X increase in the conversion ratios
- Over 25% improvement in time to hire
- Over 60% better candidate outreach and engagement
Q: What can we expect from your company in the next 6 months? What are your plans?
A: Over the next 6 months, RST is looking to grow twice and increase the number of global clients, especially in the enterprise segment. With products like Equitable hiring along with Talent Analytics bundled, RST is marking a whole suite offering to the enterprise clients.
RST has built partnerships with SAP SuccessFactors, SAP Fieldglass, Bullhorn, and many other resident HCM tools that can help clients get out-of-the-box available solutions. The growth will be primarily in the US, Europe, and MENA regions as the company looks to expand the workforce in this market. To assure a smooth experience for our clients, our team is also working on increasing its size by 2x and making R&D investments to enhance the AI capabilities of our products.
Q: What is the best thing about your company that people might not know about?
A: Sustainable growth is the key aspect that we have always advocated and supported for. Sustainable growth comes with a very streamlined and systematic mindset within every function of the organization and delivering superlative results and customer service to the clients. RST achieved break-even earlier this year and it is now focusing on building over the strong foundation laid with the strong product offering and expanding our client base by working with global partners which bring exponential growth.