HireVue, the global video interviewing, assessments, and text-enabled recruiting solutions firm, has acquired Modern Hire, the intelligent hiring platform. The acquisition marks a new era in hiring, providing organisations with an easier way to realise the full benefits of the most comprehensive platform for assessment, interviewing and end-to-end hiring automation.
What does the acquisition mean for HireVue?
Solidifying HireVue’s position as the industry leader in modern hiring solutions powered by ethical artificial intelligence (AI), this acquisition will also help accelerate HireVue’s ability to help all global organisations identify employee and candidate potential beyond resumes.
“HireVue’s mission is to change lives by connecting talent to opportunities. The acquisition of Modern Hire will enable us to continue to push the boundaries of what is possible in hiring technology, by adding to our own best-in-class science, technology and industry expertise. The team at Modern Hire are among the best scientific minds and tech innovators and we are thrilled to welcome them to the HireVue family,” said Anthony Reynolds, CEO, HireVue.
A marketplace innovator with its Virtual Job Tryout® role-based assessments and advanced selection science, Modern Hire is committed to creating new and practical ways of measuring and understanding human performance. With offices in the US, Europe and Asia Pacific, Modern Hire’s customers include FedEx, Charter Communications, Humana and Delta Airlines.
Broadening its product family to provide solutions for firms at any stage in the skills based hiring journey, the firm will now serve over 1,150 clients and over half of the Fortune 100.
What does the acquisition mean for HireVue’s clients?
HireVue shares Modern Hire’s commitment to science, innovation and ethical AI, and we are delighted to join the team. Together our global scale, commitment to customer success, unmatched tech and talented teams offer a tremendous opportunity to rapidly expand hiring solutions for customers and their candidates alike,” said Karin Borchert, Modern Hire CEO.
“HireVue’s leadership and reputation in hiring is undisputed — they led the way with video interviewing and have continued to innovate with assessments and a commitment to ethical artificial intelligence. Adding Modern Hire’s complementary science- backed solutions further solidifies their market leading position and creates a new high water mark for what great enterprise hiring can look like,” commented Madeline Laurano, Founder, Aptitude Research.
Many of the largest firms already choose HireVue as their primary hiring partner. With Modern Hire, HireVue will increase its expertise and scale to empower firms worldwide to build top-performing teams by matching potential to opportunity with a faster and fairer hiring process.
In addition, HireVue’s ongoing commitment to prioritising people and skills grows further with the acquisition of Modern Hire, ensuring candidates can develop and unlock their potential now and throughout their career journey. HireVue intends to quickly accelerate the growth of both companies’ technology to create innovative solutions that allow global organisations to understand and activate a candidate’s potential beyond just their background and experience.
What is the wider industry context of this acquisition?
The acquisition of Modern Hire by HireVue is a sign of the growing importance of modern hiring solutions. In today’s competitive job market, businesses need to find ways to stand out from the crowd and attract top talent. Modern hiring solutions can help businesses do just that by providing them with the tools and resources they need to streamline their hiring process, improve their candidate experience, and make better hiring decisions.
There are a number of different modern hiring solutions available, each with its own strengths and weaknesses. Some of the most popular modern hiring solutions include:
- Applicant tracking systems (ATS): ATSs are software programs that help businesses manage their hiring process. They can be used to track applications, screen candidates, and schedule interviews.
- Video interviewing: Video interviewing allows businesses to conduct interviews remotely. This can save businesses time and money, and it can also help them reach a wider pool of candidates.
- Personality tests and cognitive assessments: These tests can help businesses assess candidates’ skills, abilities, and personality traits. This information can be used to make better hiring decisions.
- Reference checks: Reference checks can help businesses verify candidates’ qualifications and get a sense of their character.
By using modern hiring solutions, businesses can improve their hiring process in a number of ways. They can:
- Streamline their hiring process: Modern hiring solutions can help businesses automate tasks, such as screening applications and scheduling interviews. This can free up time for hiring managers to focus on other important tasks.
- Improve their candidate experience: Modern hiring solutions can make the hiring process more efficient and enjoyable for candidates. This can help businesses attract and retain top talent.
- Make better hiring decisions: Modern hiring solutions can provide businesses with data-driven insights that can help them make better hiring decisions. This can lead to a more effective workforce and improved business outcomes.
The acquisition of Modern Hire by HireVue is a sign of the growing importance of modern hiring solutions. As the job market becomes more competitive, businesses will need to find ways to stand out from the crowd and attract top talent. Modern hiring solutions can help businesses do just that.
In addition to the benefits listed above, modern hiring solutions can also help businesses:
- Reduce hiring costs: Modern hiring solutions can help businesses save money on hiring costs in a number of ways. For example, they can help businesses automate tasks, which can free up time for hiring managers to focus on other important tasks. They can also help businesses reach a wider pool of candidates, which can lead to a better selection of candidates.
- Increase compliance: Modern hiring solutions can help businesses comply with a number of different regulations, such as those related to equal employment opportunity and background checks. This can help businesses avoid costly lawsuits and fines.
- Improve employee retention: Modern hiring solutions can help businesses improve employee retention by providing them with the tools and resources they need to make better hiring decisions. This can lead to a more effective workforce and improved business outcomes.
Overall, modern hiring solutions offer a number of benefits for businesses. They can help businesses streamline their hiring process, improve their candidate experience, make better hiring decisions, reduce hiring costs, increase compliance, and improve employee retention. As the job market becomes more competitive, businesses will need to find ways to stand out from the crowd and attract top talent. Modern hiring solutions can help businesses do just that.
Gerald Ainomugisha is a business news reporter and freelance B2B marketer with over 10 years of experience in writing high-converting copy and content for businesses of all kinds, especially SaaS providers in the niches of HR, IT, fintech, eCommerce and web3. Since joining Upwork in 2012 (back when it was still eLance), Gerald A. has delivered great results for hundreds of clients, maintaining a 98% Job Success rate as well as 5+ years of Top Rated Plus rating (and Premium Writers Talent Cloud membership). Book a meeting with Gerald A. today to get the powerful SEO content you need!