Big problem, big opportunity

The pandemic put millions of people out of work and more people than ever are looking to switch jobs. (Google “The Great Resignation.”) Most companies are struggling to find qualified workers and far too many job seekers are struggling to find work. 

The net result is more job openings are being posted (10 million in Q421) and more resumes and job applications are coming in daily. This, plus “one click apply” buttons mean the vast majority of inbound resumes come from unqualified applicants, desperate to apply to any and every job they find.

Because of this, companies are wasting money and losing growth opportunities because talent acquisition teams are buried beneath an avalanche of unqualified applicants. Their applicant tracking systems are failing, their recruiters are pulling their hair out their C-suite is pissed.

The SkillBank Competency Insight platform doesn’t care about resumes and doesn’t waste a second as it shortlists top candidates using an entirely new approach.

With SkillBank, it’s ask, don’t tell

Using SkillBank, employers ask applicants about job specific competencies instead of letting applicants tell their story via resume.

How SkillBank uniquely captures this opportunity

1. We replace the resume with competency based decision support
2. Data driven hiring eliminates biases
3. Job Competency Units™ precisely specify employer requirements
4. “Two dimensional ranking” captures applicant skills and attitudes
5. Job Competency Signal™ stack ranks cohorts of any size
6. Proprietary data and algorithms

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How it works

1. Simple integration through partnerships with leading ATS platforms.
2. Job applicants use our Ranking Module to inventory their competencies.
3. SkillBank data science scores applicants. “It’s like FICO for hiring.”
4. Recruiters use our Insight Module to make the right hiring decisions fast.
5. The result: SkillBank filters out unqualified job applicants and quickly provides deep insight on the ones that matter

Significant progress, significant potential

1. Problem / solution fit has been validated through conversations with senior HR professionals including IBM, Tesla, Microsoft and Netflix.
2. Our enterprise grade SaaS platform is fully operational, tested and ready for production use.
3. Our first PoC installs are underway and SkillBank has initiated our first three partnerships with industry leading ATS providers.

Target customer, target market

• Recruiting and talent acquisition decision makers
• SMB and mid-tier enterprises over 200 headcount
• In-house talent acquisition teams

Growth plan: Expand from the middle out

When a customer gets 1,000 applicants, they hire one but SkillBank gets 1,000 profiled job seekers. This puts us on a path to reach a million profiled job seekers. A valuable asset…

• What we can do on the demand side:
  • Expand to meet the hiring needs of growing companies struggling to hire
• What we can do on the supply side:
  • Expand to meet the reskilling needs of job seeker looking to move on