Credo Score - The CIBIL Score Of Recruitment Industry
Most of you might be aware about something called a CIBIL Score, also known as a CREDIT Score which plays a critical role in the loan application process. When someone approaches a bank or a financial institution for a loan, the lender first checks the applicant’s CIBIL score and report. If the CIBIL score is low, the bank may not even consider the application further. If the CIBIL score is high, the lender will look into the application and consider other details to determine if the applicant is credit-worthy.
CredoHire runs on a B2B model where we partner with the larger ecosystem players such as recruitment agencies, upskilling platforms, training institutes, and subject matter experts. This large network helps us in sourcing the talent, assessing the talent, and in turn collecting profile data and assessment data. When complemented with our unique IP i.e. our AI-powered algorithms we are able to:
- Implement machine learning-based classification models for shortlisting
- Implement reinforcement learning-based models to predict overall fitment
Hence, we are able to cut down the hiring time by up to 60%.
Just like the CIBIL score for the loan industry, Credo hire has something called a Credo Score. We source the candidates as well as assess them using AI-powered algorithms for startup fitment. A Fresher assessment is then done on 3 pillars namely Relevance fit, skillset fit, and Cultural fit. CredoHire then processes profile data and assessment data to generate Credo verified CV which comes with an AI-generated Credo score that is representative of startup fitment. Clients pay on the basis of the Credo score.
The CIBIL score works as a first impression for the lender, the higher the score, the better are your chances of the loan being reviewed and approved. And same is the case with Credo Score. Higher the credo score, the higher the charges, and vice versa. Only after a candidate has been sourced and assessed by the hiring managers, an offer is rolled out and that is when recruiting as a process is complete
Your CIBIL score is based on your credit history and past payments. Similarly, Credo Score is generated after processing 30+ data points and represents overall candidate fitment and hence hiring managers can directly take action on the basis of the Credo Score as it.
We are constantly working towards spreading awareness about our amazing product among the masses with a vision to make the hiring industry realize the importance of a Credo Verified CV. We aim that a high CredoScore on a candidate’s CV should be able to clearly increase the value and demand of that candidate with a huge margin in the recruitment process, thereby establishing Credo Score as the CIBIL Score of Recruitment Industry.