eHarmony enters the recruitment business with Elevated Careers
The relationship service eHarmony announced on April 1 that it would be entering the recruitment business – and, no, it wasn’t an April Fool’s Day joke. The company’s new effort, Elevated Careers, is a natural outgrowth of its vast database, as well as the resignation on the part of the newspaper industry that they can no longer compete for classified advertising (due, in my opinion, to a lack of desire more than means).
The edge eHarmony thinks it has is the ability to match the right people to the right job.
The company’s timing may be right: the latest jobs report shows that many previously discouraged workers may be looking to reenter the workforce. Additionally, with the latest strong job growth reports it may be that employers will have to work a bit harder to find qualified candidates. In other words, the pendulum may have swung a bit over to employees rather than employers, making employers work harder to find the right candidates. We’ll see.
Here is eHarmony’s announcement for Elevated Careers:
LOS ANGELES, Calif. – April 1, 2016 — eHarmony today announced the launch of its Elevated Careers platform, aimed at bringing deeper levels of compatibility between job seekers and companies to address a broken recruitment model that costs U.S. businesses an estimated $11 billion per year in regrettable turnover costs1. Elevated Careers has taken proven data science that is responsible for 438 marriages per day on eHarmony, and brought it to a new platform, developing a predictive process to match job seekers with prospective employers.
eHarmony’s research-based matching process, pioneered by founder and CEO, Dr. Neil Clark Warren, has driven a dramatic reduction in the divorce rate for marriages that begin on its site down to 3.86 percent, according to peer-reviewed research published in the Proceedings of the National Academy of Sciences Journal in 2013. Based on the scientific principles that have powered eHarmony, Elevated Careers matches job seekers with career opportunities based on multiple layers of compatibility to more accurately place the right candidate in the right job at the right company.
“With the development and launch of Elevated Careers, eHarmony has become the world’s first relationship company, with unique expertise in creating compatible matches,” said Dr. Warren. “70 percent of workers report dissatisfaction in their current job, and we are now poised to make a positive impact on this important relationship allowing people to love not only what they do, but where they do it.”
How it Works
Led by Dr. Steve Carter, eHarmony’s team of data scientists developed Elevated Careers’ compatibility matching system based on assessments of workers’ personalities and values, and companies’ cultures. These algorithms use a total of 24 value, culture, and personality factors, scientifically matched, positively impacting worker satisfaction and company performance.
Elevated Careers matches job seekers with jobs based on three types of compatibility:
- Skills: the degree to which a job seekers’ skills and background fit a specific job using the Elevated Careers “Skills Fit” algorithm leveraging data from millions of resumes and career transitions that help predict how likely a professional is to be hired for a position based on work history.
- Culture: a measurement of 16 key factors delineating how an individual’s core work values fit within a company’s culture, which has proven crucial in predicting an employee’s overall job satisfaction and engagement.
- Personality: examining interpersonal work relationships specific to the compatibility between an employee and a hiring manager, drawing on eight factors taken from both the eHarmony relationship matching system along with factors uniquely related to the workplace environment.
eHarmony has leveraged key strategic partnerships to develop Elevated Careers, including Simply Hired with its best-in-class technology, helping provide jobseekers with approximately 2.5 million jobs per day, while Burning Glass was tapped to power Skill Compatibility estimates. Finally, eHarmony leveraged its partnership with InfoSys to bring Elevated Career’s technology to prototype in less than 24 months.
For more about Elevated Careers, visit www.elevatedcareers.com.