Workforce Management Drives Corporate Workplace: EdGE CEO
From hiring to the exit of an employee, maintaining the workplace culture, there are uncountable responsibilities of the Human Resource department of a company. What will happen to the HR of MNC who has records of more than thousand employees? This is one of the challenging aspects for the HR to maintain. To resolve such challenges and ensure the smooth functioning of the organization at all levels, a company needs the assistance of HR Service Provider. EdGE Networks is an HR-tech start-up, which is helping companies such as Wipro, HCL and TeamLease to solve their workforce related challenges using Artificial Intelligence and Data Science. EdGE Networks claims that they have specialized tools and tactics to deliver powerful results to clients.
To reengineer human resource management, EdGE harnessed NLP algorithms and a powerful skill repository to build as an Artificial Neural Network. In conversation with Arjun Pratap, Founder and CEO, EdGE Networks shared how workforce management has created huge transformation in the corporate workplace and also shared how new age organizations sail through a host of employee and workforce transformation issues and how AI focused solutions are coming to their rescue.
Q: Could you please brief us about the corporate vision of EdGE?
Connecting the right person to the right job is our mantra at EdGE Networks and we have an Artificial Intelligence (AI) and Data Science based approach to resolving this.
What sets us apart is the fact that we do this in an efficient manner by espousing innovative technologies—Natural Language Processing, Artificial Neural Networks, Machine Learning and Predictive Modelling.
We help our customers solve their most pressing talent acquisition and workforce optimization problems with HIREalchemy, one of the largest skilled manpower platforms that aims to connect every potential employer with every potential employee. Our solutions help HR specialists fight challenges such as filtering CVs, ineffective screening methods, low RoI from job portals, increased cost due to external hiring, low quality resumes, incorrect visibility of the complete workforce and limited movement of talent from one domain to another, to mention a few.
Q: What is the global presence of EdGE for e.g. what kind of clients does it cater to?
We are currently focused on the Indian market with plans to go the U.S.A and Europe in the future.
We cater to a wide array of clients, from large IT conglomerates to leading staffing firms. Our clients include Wipro, TeamLease, HCL and Microland. Our HR tech products and solutions are geared to enable HR functions lead with data and intelligence – and significantly improve workforce availability, billing, allocation and drive straight bottom line impacts.
Q: Does EdGE provide Vendor On Premises (VOP) services?
Our product and solutions cover Talent Acquisition (HIREalchemy), Workforce Optimization and Talent Analytics. As we are mainly a product company, our model is different from a traditional vendor on premise or managed services model which are technology services delivery models.
While we offer on premise, cloud and hybrid delivery models to all our customers, we are moving to a cloud centric delivery model. Cloud is a preferred model for both user experience and cost reasons. We have customers who started with on premise deployment and have moved to cloud – this, we believe, will be the future.
Q: How does EdGE differentiate itself from its competitors and what kind of marketing channels does it use?
Our unique value proposition to clients is that we use Natural Language Processing (NLP) Algorithms with a Data Science and AI based approach to analyze Job Descriptions and Profiles/resumes, and provide a scored and stack ranked set of people for the job in question.
This is further bolstered with our ability to do this for an internal workforce and to acquire talent from portals. Done using advanced technology with minimum human intervention – the disruption we create is the value of time and accuracy, delivered consistently.
While our product and solutions are based on some of the most cutting-edge technologies, we have also worked towards creating a responsible and agile organization that is ready to partner with customers to build game changing HR tech solutions.
In terms of marketing, we follow a three-channel marketing approach:
-Strategic partners (integrators such as Job Boards, Aggregators, Assessments, Video Interviews, Background Verification Companies)
Q: The labor markets have 4 major problems matching (connecting people to jobs), mismatch (repairing unemployable supply for jobs) and pipeline (preparing youth in school for jobs) and StartUp. What is the strategy of EdGE to counter these issues?
The very basis for starting up EdGE Networks was this universal problem that organizations face—to connect the right person to the right job. With this as our mantra, we dug deeper to unearth the underlying issues that contributed to this corporate epidemic.
Our flagship product, HIREalchemy is a cutting-edge talent acquisition platform powered by Artificial Intelligence and Data Science that transforms the hiring experience. Using our comprehensive skills repository and machine learning algorithms (NLP and ANN), we create sharp job descriptions armed with pertinent keywords, resulting in accurate resume matches. The platform auto-sources the right fit by parsing and analyzing both structured and unstructured information from internal databases as well as external portals.
It eases the process of selection as the platform throws up resume matches by scoring and stack ranking them based on business rules set by the client. This exponentially enhances the speed and accuracy of job fulfillment and has the potential to save costs of the order of millions of dollars for large businesses. The intelligence built into our platform helps determine the career path of staff, assess skills gaps and bridge these gaps by recommending relevant learning paths.
Q: Kindly share how EdGE’s Power tool works for HR.
HIREalchemy is our innovative Talent Acquisition Product that enables the search, rank and recruitment of talent with amazing ease and accuracy. Our Workforce Optimization Solution forms the intelligence layer on top of HR systems and helps effective organization building.Our Talent Analytics Suite helps in predicting attrition, forecasting resource demand and more – enabling fact-based decision making across the HR value chain.
Q: How has EdGE ensured adoption of SMAC (Social Media, Mobility, Analytics, Cloud)
EdGE is certainly a new age company. We are built on the very premise that digital technologies which are SMAC plus Artificial Intelligence (AI) will transform business and in our case, the HR function. Our solutions are developed on AI components such as NLP, ANNs, etc. This enables us to bring about a sea change in the speed, accuracy and timeliness of delivery. Al powers our product and its features such as auto-sourcing, intelligent job description, scoring and ranking resume matches, intelligent learning path and more.
We use social information to deliver thorough profile analysis resulting in more accurate matches. Our product and solution in Talent Acquisition and Workforce Optimization connect to social sites such as Stack Overflow, GitHub, LinkedIn – the algorithm searches for social profiles of prospective candidates, analyzes the information therein and delivers an enriched profile. These profiles are then parsed to score and stack rank them against requirement.
We espouse responsive web design thereby providing optimal viewing and interaction experience across devices including mobile devices. This would mean that a hiring manager could raise a service request, check the status and approve matches, all on-the-go. We also provide mobile optimized analytics dashboards. With this, our customers enjoy easy reading and navigation with minimal resizing, panning, and scrolling.
Analytics (aside from AI) is our mainstay. Our attrition analytics helps determine flight risk; demand optimizer helps modify requirement for better and faster matches; demand & supply forecasting helps in improved resource management, bench optimization and utilization; joining probability analysis helps reduce offer drop outs. We provide relational, contextual analysis which increases the depth of analysis derived from rich data. Using advanced analytics algorithms with predictive capabilities, we empower HR Leaders with real-time data and actionable insights that accelerates business decision making and the accuracy therein.
Cloud is no more an option – but a given. We offer all our solutions, customized or plug-and-play, on the cloud. With reliability as the main objective, we use a combination of cloud solutions to ensure zero downtime and this, without compromising on the security of client data. As we cater to large multinationals, it is key that we comply with regulatory requirements on data security, data location, access management, etc. of various regions. We keep ourselves updated on these norms and offer appropriate cloud solutions so that our clients are 100 per cent compliant.