Hiring the right people can be a lengthy process and a real pain in the neck.
Not only do you have to consider the qualifications of candidates, but you also have to ensure they have the right set of soft skills and a personality that fits well into your existing team and overall company culture.
Research shows the hiring process can get really pricey: for entry-level job positions, the average amount of money spent on recruitment is around $750, while it reaches almost $4000 for executive roles.
And what causes these high expenses?
The prescreening period often takes too long as it’s not that easy to filter out potential good fits from all applicants. Companies end up hiring the wrong person, be it due to candidate’s poor performance and professional incompetence, or the lack of team spirit. On an annual level, only 5% of companies seem to be satisfied with their chosen employee. Finding the right person for your team can make or break your business.
There’s another factor that contributes to the difficulty of this process: human bias heavily influences the selection of the candidate. However, Cherryfish.me has set out to change this with their unique algorithm and technology.
Cherryfish.me Changes the Recruitment Game
Cherryfish.me is a privately held startup, founded in 2016 in Berlin. The team has developed the world’s first HR analytics tool that easily translates dry data from candidates’ CVs into meaningful insights and competences that can be precisely scored. This way, human bias is kicked out of the equation, the profiles of potential employees become quantifiable and can be objectively compared with one another.
With this recruiting tool, HR professionals can forget about the lengthy and time-consuming process of trying to manually identify the perfect person for the job.
The three main advantages of Cherryfish.me are the following:
- Get a real, unbiased, and holistic assessment of candidates’ professional competence
- Optimize the hiring process and fill in the job position faster
- Increase the chances of hiring the right person for your business
In addition to the tool itself, Cherryfish.me offers access to their own freelance platform, which is great in case you’re not looking for a full-time employee, but rather someone to work with you on specific projects.
The algorithm is based on the uniquely developed Cherryfish competence model that calculates scores with great precision, helping you choose the right person in no time. The search ranking results are highly dependable on the set job requirements. Best matches then get transferred to your applicant tracking system. Easy as pie.
But how does it actually work?
The Technology behind Cherryfish.me
The competence model Cherryfish uses provides a full and comprehensive look at candidates’ skills and expertise. These include a total of 8 factors that are measured and contribute to the final score:
- Industry expertise
- Function expertise
- Line experience
- Professional focus
- Project management
- Major topics
- Cultural experience
- Personality type
As you can see, the tool takes in mind both a cultural experience and personality type, which is a huge plus. It’s important to know whether or not candidates can function in a multicultural or specific cultural environment, as well as if they already have some working experience in such teams. In addition, Cherryfish.me uses the Myers-Briggs test (MBT) to identify what type of personality do candidates have, which allows you to determine whether or not they would be a good fit.
You can set your preferences, i.e. the importance of each individual factor, by using the Cherryfish’s custom search criteria. Once you do that, the algorithm rates all the candidates and adjusts their rankings by relevance. All of them are displayed in a list which you can sort by different filters.
Thanks to this, creating a short list of top talents is easy and fast.
But, that’s not all. You know how it can be very hard to choose the best fit for the company when it’s basically a tie between two candidates? In these cases, you usually rely on the gut feeling. Well, Cherryfish can help you in making the right decision.
The tool enables you to directly compare candidates and see their key information clearly, as they are visually highlighted. All their strengths and weaknesses are exposed and therefore – simple to pinpoint. You can also choose to see candidates’ competence in detail: the tool extracts all the important data from the CVs, giving you a highly visual and consumable summary of applicant’s profile.
Great Opportunity, Both for Freelancers and Companies
As we already mentioned, Cherryfish also has an active freelance platform that’s beneficial both for freelancing professionals and companies seeking top talent.
As a freelancer, you need to have a specific industry focus in order to get hired through Cherryfish’s platform. Currently, it focuses on connecting freelancers and businesses from industries such as aviation, railway, logistics, pharmaceuticals, life sciences and biotechnology, financial and insurance services, telecommunications, automotive, and oil and gas industry.
If you’re a working professional who has built expertise in some of these fields, you have a great chance of getting hired pretty soon after submitting your CV. Usually, Cherryfish’s freelancers offer expert consultations and are at least intermediate level of industry knowledge.
Freelancers can register via the website form or reach out directly to firstname.lastname@example.org and forward their CV, it’s completely free. Since Cherryfish focuses on specific industries, people who register can expect a satisfying flow of relevant projects. They will also get expert tips on how to improve their existing profile. In addition, the platform collaborates only with trustworthy and credible companies, ensuring freelancers don’t experience any unpleasant surprises. The network continues to grow and has a great success rate.
And what about the companies?
Both small businesses and enterprises can enjoy Cherryfish’s objective scored competence model while having direct access to an already-filtered out the talent pool. Relevancy is the key here, as well as saving time and shortening the hiring process.
Companies can find exquisite industry experts in just three steps:
- First step – defining the project
Logically, companies first have to define the job role and list all the must-have requirements. In addition to technical skills, they can also express desired cultural background or personality type that their project team needs.
- Second step – selecting the desired candidate
After all the requirements are set, Cherryfish’s algorithm scrapes all available candidates to find the top matches, with respect to your listed priorities.
- The third step – getting the project rolling
Finally, with the right freelancer you’ve chosen, you are free to start your project! The hiring process usually takes less than a week. It’s both cost and time-efficient, and it enables you to relocate your resources to other business fields.
The Bottom Line
We can all agree that the technology is evolving and rapidly changing the business landscape. Cherryfish has set out to digitize and automate the recruitment process with the first ever algorithm that can help companies select their candidates with a higher success rate, as objective as possible.
Undoubtedly, we are moving towards a more digitized way of life. Artificial intelligence has become very advanced. Have you heard that the latest technology by Google enables machines to make a phone call and have natural, human-like conversations? What will be next? We’re not completely sure, but we’re definitely excited about it.
As for job hunting, it already shifted towards the online world, which is why having a personal website that showcases your capabilities is becoming a norm, not an extra mile that candidates commit to. If you do decide to make your own website that will stand out from the sea of duplicates, you know there’s not a single domain in the world more personal than .ME!
You can check whether or not your .ME domain name is available here.