Our brains make decisions and judgements about people in less than 0.2 seconds. Our objective brain needs about 0.5 seconds to kick in and bring much needed logic to whatever situation we're observing. But by this time, it's too late, and our unconscious mind has taken the lead in the situation.
Our mind can introduce this error in instances where we're having to evaluate a person and make decisions or choices about them. In reviewing candidates for a job, we tend to favor people with the same gender, ethnicity, educational background as the reviewer. But the error and unconscious bias doesn't stop there. Our minds tend to favor taller men as better leaders, physically attractive people and those with easier to pronounce names as being more competent.
This error can drastically shrink your hiring pool, leaving you with fewer and fewer great candidates to choose from. This problem of finding and evaluating talent spans all industries and is extremely expensive to mitigate if you've made a bad hire. Almost 80% of employee turnover can be attributed to bad hires. It's also 2.5x more expensive to rehire for a position where an employee leaves or is let go. For example, if an employee makes 80k per year, it costs 200k to replace them. Companies cannot afford to make bad decisions when hiring, and these costs come directly from the overall bottom line. This is where Applyable comes in.
Applyable has gathered feedback from potential customers and those with experience hiring and reviewing talent. From this research and interview process, we have created a two step process to streamline the review process and insure great candidates aren't diverted away too early in the process.
The first step is having jobs available for candidates to apply to on our site. Candidates do this by signing up and creating a profile & resume. Our system will create a decluttered resume without name, ties to gender, ethnicity, age or the name of specific schools. We've found this information can give a false sense of competency that often leads to bias. Once the resume is completed, the applicant will apply to a job and answer 1-3 questions on the most important criteria specified by the company.
Step two is the review process. Once an applicant has submitted a resume and answered inclusion questions, a company will see resumes for all candidates, sorted by those who answered yes to the inclusion criteria. Companies can now use our product to quickly go through resumes and have all the needed information they need to make the best decision. Non-qualified candidates are sorted lower initially, but can still be reviewed for the position. We've neutralized human error associated with our unconscious mind and once a company finds qualified talent, they can then move them forward in the process to receive a full resume from that candidate.
Applicants want to be judged and reviewed by their experience and skills, while companies want to maximize profit. What companies don’t realize is there’s a 35% increase in revenue for companies with ethnically diverse executives, while gender diverse executive boards show a 15% increase in revenue. And of the top 50 companies who focus on diversity and inclusion, they outperformed the S&P 500 by 25% the last 10 years.
Founder & CEO Raymahl (Ray) Sutton graduated from North Carolina State University in Polymer & Color Chemistry in 2010. He searched for jobs from September 2010 until April 2011 on his own before reaching out to a recruiter. It was during this conversation he was advised to remove 'Raymahl' and go by 'R. Sutton' or 'Ray Sutton'. After changing his name on his resume from Raymahl to Ray, 8 weeks later he had accepted his first job out of college. Over the years, Raymahl realized that his experience wasn't much different to other people of color and women across the globe. It was then, the idea of removing information to help recruiters do a balanced but quick candidate review became Applyable.