Human Resource (HR) processes including hiring, management, interviews, selection, etc, can be very time consuming, lengthy, and costly for companies, and technological disruption is much needed in this segment.
Dr Gaurav Hirey, who has over two decades of experience in HR, believes that most of the HR technology solutions available tend to be IT driven and thus it is difficult to implement it for businesses in other verticals.
In a bid to solve the problems related to technology and digitisation in the HR sector, Dr Gaurav launched HRtech startup GoEvals in 2019 along with his wife Swati Hirey and Manish Menon. Swati has been an entrepreneur for over 15 years and Manish brings more than 22 years of HR experience.
The startup offers AI-based tools for people management across the employee lifecycle. The SaaS platform went live in October 2020.
Speaking with YourStory, Dr Gaurav explains, the AI-enabled tools offered by GoEvals help businesses to solve issues related to high investment and long implementation cycles, among others. It’s AI and ML algorithm collects and analyses candidate data and presents them to the suitable hiring companies.
“Having worked on multiple HR technology projects for over a decade, we realised that the success rate of these technologies was abysmal. The destruction in terms of the huge investment, effort, time, and even failed careers it left behind in its wake was very serious. Being personally aware of many good HR professionals who struggled with implementing technology and due to the complex nature of solutions they were unable to deliver, thus self-limiting their careers for no fault of theirs, we decided to create GoEvals,” Dr Gaurav says.
GoEvals team currently consists of 11 members. [Image Credit: GoEvals]
Simplifying HR technology
Explaining about the operations, Dr Gaurav says the startup is developing nine tools to support businesses in candidate selection, employee sensing, and to monitor organisational performance.
“We have currently gone live with two of our tools, including our patent pending Compatibility Index Test, which is an ingenious compatibility tool, and the Video Interview Platform, which eliminates the need to have the interviewer and the interviewee to be present at the same time. Our product roll out plan will be completed by July 2021,” he adds.
Explaining more about the operations, Dr Gaurav says that GoEvals collects the data points shared by a job seeker during the interview or selection process. The platform uses ML to match the candidates with the hiring managers if their data is compatible with the parameters laid out by the hiring company and predicts an outcome.
“The data is received and then presented as real time individual candidate reports using descriptive and predictive analytics. These reports effectively use graphs, text, and visuals that are easy to understand. They deliver information to effectively predict success or failure of those taking the tests. Each outcome has been scientifically validated, enabling hiring managers to make data-based hiring decisions instead of using gut feelings,” he explains.
Illustration: GoEvals
Business and more
GoEvals operates on a subscription-based model with plans starting for Rs 1,500 plus taxes per month. It also offers a 15 percent discount to businesses opting for annual plans.
“We intend to make the technology easily accessible to small and medium businesses too, and so our pricing plans change depending on the users and the features required. We, however, extends an unlimited number of tests, video interviews, and responses to our clients, which means they can use GoEvals freely without worrying about limits,” Dr Gaurav adds.
While the co-founder declined to share more details about the clientele, he added that the platform went live in October and claims to have 13 clients on board, and is on track to onboard 50 clients by March 2021.
According to a 2020 report by Grand View Research, the human resource management market is projected to reach $38.17 billion by 2027, registering a CAGR of 11.7 percent from 2020 to 2027.
Some notable players including Trabaajo Inc, EdGE Networks, Darwinbox, and Dockabl are using AI to address the gaps in the recruitment process.
Speaking about future plans, Dr Gaurav explains that GoEvals is currently focusing towards launching all the nine tools and also hiring teams for business and technology development. The startup has 11 team members and is looking to have about 30 people by the end of 2021.
He reveals that the bootstrapped-startup is also in talks to raise funds, which is expected to be announced by mid-2021.
“We are also in talks with several partners to launch the product internationally. We intend to launch in at least two Asian markets and the UAE by the end of 2021,” he adds.
Edited by Megha Reddy
Link : https://yourstory.com/2020/12/hrtech-startup-goevals-businesses-ai-ml-people-management
Author :- Shreya Ganguly ( )
December 08, 2020 at 05:50AM
YourStory