Leveraging Psychometric Assessments to Assist Employers in Making Informed Choices
Traitily is a digital platform that leverages on normative psychometric assessments to quantify the suitability of a candidate to a particular role as well as the potential employer. Our artificial intelligence engine combines the results of the psychometric assessment together with other variables such as skillset, interest, salary expectations, and location to recommend suitable candidates for employers eliminating the tedious filtration process and lowering the risk of a bad hire.
- 46% of all hires failed within 18 months
- 89% indicate failure due to something involving personality & attitude
- ONLY 11% of new hires failed due to technical incompetency
New hires (aka bad hires) fail due to a mismatch between their traits and the job. Bad hires are one of the most costly mistakes companies can make because they directly affect an organisation’s bottom line due to (i) loss of productivity (ii) lower staff morale (iii) monetary cost
Bad hires happen due to an Employer’s inability to access the right tools to assess applicant’s traits so they rely on traditional methods (such as CV matching) to filter and shortlist applicants – which in itself creates a couple of major inefficiencies:
- The time it takes to review the application and gauge their interest (avg 10 mins per application, 17 hours of effort)
- CVs lead to subconscious bias as they contain information such as; name, age, gender, ethnicity, religion, education, social status etc. which have little relevance to predicting on-the-job success.
Traitily is a digital recruitment solution that provides validated behavioral assessments to match candidates and job functions.
- Employers to submit shortlisted candidates to undergo Personality & Engagement assessments
- Additional assessments such as Cognitive and Attitude are available for purchase as well
JOB MATCHING PLATFORM
Scoring system based on:
o “Job Fit” Score
o Salary Band
o Notice Period
o ”Good Impression Score”
18 Companies currently signed up
46 Candidates have completed the assessment and being reviewed by employers
Employers: MNC & SMEs
Candidates: Executive and Above
Free Filtration for 100 Candidates for first 3 Job Campaigns
RM 5 per candidate to review and filter
RM 15 per report:
- Remote Working
- Learning & Development
RM 10 per report:
Malaysia workforce is 15.6 million strong
3 million Malaysian’s are open to new opportunities
48% of the Malaysian Population are in the workforce
RM 21,600 cost per bad hire in Malaysia
MYR 15 billion total industry cost for bad hires
Currently in the recruitment industry there are 2 types of competitors:
- Job Boards – i.e WOBB, Jobstreet, Linked In
- Psychometric Assessment Service Provider – Psymetrics, Cubix, Pulsify, Traitify
Job Boards are historically based on the concept of quantity over quality. For every job campaign that is created, candidates will tend to apply regardless if they fulfill all the necessary criteria. The onus is always on the employer to vet through all applications to gauge suitability and interest. Traitily’s function is to eliminate this time-consuming exercise on the employer’s side as well as removing any bias that might exist. Traitily’s data driven algorithm converts the candidate’s answers to the psychometric assessment into a job fit score which quantifies their suitability to the specific job function. This helps the employer make an informed recruitment decision.
Raising RM 1,000,000 for to be used to scale the business post Phase 2.
- 56% to be used with regards to building the team
- 26% will be used for tech development
- 18% for Miscellaneous
Upon maturity of Phase 2, critical data that is available will provide opportunities to branch out into other verticals in e-commerce and fintech
Already secured RM 600,000 from 3 individuals from both the United Kingdom and Malaysia who are closely associated with the recruitment industry
Formerly Accenture, AirAsia X, iFlix specializing in business strategy, corporate finance and operations
Formerly PWC, Kenanga, Krowhired specializing in System Development, Sales and Operations
Formerly Robert Walters & Krowdhired specializing in recruiting for MNCs as well as SMEs.
Highly experienced facilitator and a Global Master Practitioner in Dr. Edward de Bono's Thinking Methods. Nigel is a former military fast jet pilot and is a teaching graduate with a background in business management where he became experienced in the use of psychometric assessment in the recruitment and development of effective personnel. He is a regular conference speaker and has presented workshops to a wide variety of audiences. He has delivered major programmes for corporate clients including BT, Allianz, PWC, Bayer and HSBC helping them to hold more effective meetings and release creativity in their teams and organisations.
- No shares will be allotted or issued based on this document after six months from the closing of the offer period.
- This issue, offer or invitation for the offering is a proposal not requiring authorisation of the Securities Commission under section 212(8) of the CMSA 2007.
- This document has not been reviewed by the Securities Commission Malaysia. The Securities Commission does not recommend nor assumes responsibility for any information including any statement, opinion or report disclosed in relation to this fund raising exercise and makes no representation as to its accuracy or completeness. The Securities Commission expressly disclaims any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the information disclosed.
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