A unique method of recruitment of interns is being used by United States based investment bank JPMorgan Chase & Co. The bank is in the process of testing out video games based on neuroscience for the recruitment. This is part of the strategy of the bank to increase workforce diversity through increasing the size and nature of its pool of possible candidates.
Matt Mitro, JPMorgan’s head of campus recruiting, said in an interview that a p0ilot project for the new recruitment system is being tested out by the bank with technology from Pymetrics. This startup produces video games that are used by companies for making assessment of the social, cognitive and behavioural features of an applicant for a job. Such elements of personal attribute include levels of attention, memory and altruism, Mitro said in the interview.
According to the new recruitment system of interns devised by the bank, it first records certain desired attributes from some of its most successful employees. Potential interns who would be most suited for a particular job profile are then identified with the user of the platform and comparing the same desired attributes of the interns with those from the most successful of its employees. Hence the decision and assessment about the ability of a potential candidate is therefore made on the basis of data instead of the known traditional human resource management and selection processes.
Mitro said that the pymetrics’ game was played by entry level employees at JPMorgan across the world over the past few months. Following that, the same games were played by hundreds of candidates for a limited number of full-time roles.
A good indicator of fit for experienced workers is employment history, Mitro said, but also added that resumes have less predictive value with recent college graduates. This was the driver that prompted JPMorgan to conduct tests with the pymetrics’ technology for entry-level candidates – those who are generally in the process of just starting their careers.
In order to add a greater degree of fairness into recruitment and other human resources processes, an increasing number of companies are increasingly resorting to the use of technology.Systems also include applications that scan performance reviews for unconscious bias or that monitor job ads for phrases that might dissuade a certain demographic from applying.
“Our re-imagining of how we hire is part of a broader objective at the firm where we are asking ourselves: ‘Can we better meet our diversity goals by broadening the pool of candidates we are considering?’,” Mitro said.
He added that the JPMorgan’s pilot would also be used for selection of applicants for 2020 internships in the United States, and noted that this technology based selection process would but only be one step in the entire selection process.
According to the website of Pymetric, it clients include Unilever Plc and Accenture Plc.
(Adapted from thestar.com)