Paññã (Panya) announces the official launch of their hiring and recruitment web video conference platform, with $500k angel seed funding and millions of dollars injected from Paññã’s holding company, mroads. Beta clients include Intuit, iCIMS, MobiTV, University of Texas (Dallas) and Anuta Networks.
In a hiring environment where recruiters are inundated by fabricated resumes and spending excessive hours sourcing top talent, Paññã’s model gives hirers the platform to set up face-to-face real-time, scheduled or candidate one-way video interviews. All videos are recorded, for interviewers to review at any time, with no downloads required.
Helping simplify and speed up the applicant screening process, recruiters and hiring agents can utilize Paññã’s pre-built questions and AI technology or create custom questions on multiple topics. They can view candidates real-time Q&A’s to assess if written answers are correct, helping to determine proficiency without manual checking. Each recorded interview shows if the applicant visited 3rd party websites or programs to copy answers, alongside the time spent answering each question, aiding HR’s in filtering suspect interviewees. The videos are stored in the client’s Paññã account whereby recruiters can view candidate score rankings, with sliding percentage filters to compare applicants applying for the same role. This can also be sorted by applicants applying for different positions based on Q&A scores, giving hirers the full picture on whether candidates are more suited to an alternate role while eliminating skill-set mismatches.
As the questions are based on difficulty, Paññã’s AI automatically generates easier next-step questions if a candidate is unable to correctly answer a prior question. The same technology applies for applicants that breeze through each harder question, helping recruiters in placing potentials in either more junior roles they’re looking to fill, or elevate the candidate to a senior position that the applicant is more suited to. With time-effective flexibility, HR’s can edit or add new pre-built or custom questions for follow up interviews and also invite one or multiple applicants using prior created Q&A’s. Other video features include IM Chat, adding resumes in real time, sharing the screen with colleagues and note-taking as a powerful memory reminder about each prospect.
As co-founder Rahul Kukreti clarifies, “With the current hiring process, recruiters are spending thousands of hours manually screening interviewees, as they don’t have the technology or resources to correctly fill positions more effectively. We’re also accounting that resumes don’t always tell the true story, by either inauthentic applicants or promising candidates with poor SEO keywords. We saw the video conferencing industry as predominantly ideal for meetings and social interactions, yet Paññã addresses a gaping, untapped hole in the hiring arena. And Paññã’s beta testing proof of concept has confirmed time-to-interview showing a reduction by 40% while interview-to-hire has improved by 50%.“