Industrial/Organizational (or I/O) Psychology is the study of psychology in the workplace. This work started in WWII, when lives were literally on the line. Scientists needed to develop selection methods that they knew would work to select officers and pilots, and place them into roles that were the best fit for their skills. 50+ years later, researchers in the I/O Psychology field continue to gather evidence that demonstrates which tools are the best predictors of performance. Today, this research is applied in the workplace primarily through non-scalable and expensive consulting services - meaning this deep insight is often reserved for vetting executives of Fortune 500 companies. But the introduction of AI to the I/O field would change all that.
Although AI offers a level of scalability and efficiency to established hiring processes, the crux of AI is teaching machines to make decisions the same way humans would. And let's be honest, humans often make "gut feel" decisions - which can be unpredictive and biased. We have the opportunity to train AI not with human decision-making, but with I/O Psychology - automating evidence-based (but previously non-scalable) selection methods. And that's exactly what Plum does.
Plum's Talent Neural Network automates decades of I/O Psychology research, scaling it with AI to not only stay ahead of the curve, but to define it. 4X more accurate than a resume at predicting on-the-job success, Plum measures ability to innovate, work ethic, and more. And if an applicant isn't the right fit in one role, Plum's Talent Rediscovery feature can apply a new Match Criteria on the candidate to see if they'd thrive in another role. It's all about building a talent pipeline with Plum's proprietary database to get the right people in the right seats.
Before, organizations could only gain access to the deep insight of I/O Psychology through time-consuming and often costly consulting services. Now, with Plum, the certainty of hiring science is available to all.
By the year 2034, 47% of today's jobs will be automated. 65% of today's students will be applying for jobs that don't exist yet.
Do you know how you will migrate your unemployed workforce into net new roles? Our current hiring habits are going to leave a lot of people without jobs in this new economy of automation. But if we make a change, if we take the emphasis off hard skills and resumes, we can open up the opportunity for people in more mundane and repetitive roles - the ones that automation will replace first - to move into roles where their soft skills and talents will thrive. We have the opportunity to prepare for the future of work by marrying the advancements of I/O Psychology and AI technology to get the right people in the right seats. Here's how Plum is preparing organizations for the future of work without workforce musical chairs.