Libor Dolezel of INSYMBO tells us about selecting the right candidates based on their potential with the help of Neuroscience and AI.
First of all, how are you and your family doing in these COVID-19 times?
Libor Dolezel: Thankfully, we are all well and healthy.
Tell us about how you founded INSYMBO.
Libor Dolezel: Since my bachelor’s studies, I had been focusing on studying neuroscience in marketing. During my master’s studies, I wanted to use this knowledge and help Procter & Gamble improve their brands. I applied for a job there, got through some selection steps, but then screwed up. During the interview, I changed my personality and tried to be someone I thought they want to hire. I did not get the job. But this whole experience made me realize that neuroscience could improve hiring, and subsequently, INSYMBO was found.
What is wrong with hiring today?
Libor Dolezel: Nearly all companies make wrong hiring decisions each year, so the traditional hiring process is not quite right. A wrong hire is very expensive for companies and may also lead to burnout of their employees. It is, therefore, important to base hiring decisions on data, not intuition, that help predict a candidate’s future success in a company. Predicting job performance can be, however, a difficult task with the traditional hiring model.
What causes wrong hiring decisions?
Libor Dolezel: There are several reasons behind it, but two main problems of the traditional hiring process stand out. First, none of the conventional hiring tools are a good predictor of job performance. Second, the selection process is backward as it starts with the least predictive hiring tool – resume screening. So, in other words, wrong hiring decisions happen because the data is not efficient. Companies spend a lot of money on tools that negatively influence their decisions and lead them to hire the wrong candidates.
How does INSYMBO innovate?
Libor Dolezel: INSYMBO is a platform that combines neuroscience with artificial intelligence for data-driven hiring. We reverse the traditional process, so companies start the selection process with the most predictive hiring tool – INSYMBO. We also help companies increase workforce diversity, hire faster, and engage their candidates more during the selection process.
How does it work?
Libor Dolezel: The modern working world is complex and different jobs require different sets of abilities. It is, therefore, necessary to use a hiring tool that adapts to this situation. INSYMBO uses neuroscience-based games that allow us to measure a wide range of abilities that are essential to today’s workforce. First, we let current employees play our games to analyze which abilities predict job performance for a given job position. We then create custom algorithms for companies to discover the right candidates with these abilities. This data-driven approach significantly shortens the selection process and improves its efficiency.
How does the coronavirus pandemic affect your business and the hiring industry?
Libor Dolezel: For some clients, the recruitment of new employees has almost stopped. For others, we see an increase in recruitment. We took this time to improve and innovate our platform and prepare for expansion. In the recruitment industry right now, there is the need to move much of the selection process online. INSYMBO satisfies this need as candidates can play our games online from their homes.
Your final thoughts?
Libor Dolezel: While the global pandemic is a disaster, it will inevitably lead to many positive changes and the way we do things, including how companies hire new employees. We are excited to be part of the solution that helps both companies and candidates find the right match for each other.
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