In conversation with Ujjal De, Founder of KarmaV, an HR Technology Startup Championing DEI and Transforming HR Processes

How does KarmaV ensure organizational diversity, equity, and inclusion (DEI)?

Ans: Through its AI-based SaaS platform KarmaV addresses HR process challenges and enhances the organization’s DEI efforts. Our proprietary scoring system audits various HR functions like recruitment, compensation, appraisal, and learning development to identify critical action areas and help HR professionals develop strategies to improve workforce conditions.

Additionally, KarmaV’s intelligent recruitment solution provides access to a more diverse talent pool and reduces the time & cost of hiring by automating candidate screening and background checks. This directly improves efficiency and also promotes diversity by ensuring fair and unbiased candidate evaluation.

Not just this but KarmaV also provides workforce transformation solutions enabling organizations to decrease their attrition rate by 30% by addressing salary disparities, enhancing career advancement opportunities, and facilitating skill development. In addition, the platform has also worked with corporate and academic experts to run pilot projects that resulted in a 40 percent improvement in the quality and diversity of hired candidates.

Thus, by leveraging the KarmaV platform, many organizations can enhance their DEI initiatives and foster a more inclusive and equitable workplace.

Can you walk us through the recruitment process using KarmaV and how it streamlines the process for businesses?

Ans:  KarmaV has a simple workflow that does not confuse the employer to get lost and distracted in the labyrinth of complicated processes to achieve the objective. Organizations can migrate their entire HR process to KarmaV, equipped with a no-code career site builder, ATS, and recruitment marketing solution. Alternatively, KarmaV functions as an AI layer for decision-making and process optimization by retrieving data from any cloud-based HR software (HRMS, ERP, CRM, ATS) with out-of-the-box connectors.

Here are some of the ways how KarmV streamlines the hustle-free recruitment process:

1. Engaging and attracting the right talent by building a strong employer brand and making the application process fast and easy
2. Simple and fast recruitment process by providing ample clarity of the job opportunities and enabling precise communication in each step, making it less ambiguous both for employers and job seekers.
3. Build talent pools and pipelines for future hiring. Make data-driven recruitment decisions and match pre-screened and qualified candidates with upcoming open positions.

What is FairKarma? How are the challenges solved with KarmaV?

Ans: FairKarma™️ AI engine, a set of innovative scoring algorithms that are linear and explainable. It allows for machine-supervised controlled parametrization that balances the scoring to make unbiased decisions that were biased in the past. It assesses about 50 candidate attributes and maps against the company’s needs to score the candidates and determine the best fit.

Here are some of the ways how challenges can be solved with KarmaV:

Establish an ethical recruitment process: KarmaV’s AI engine and partner ecosystem source and screen candidates that would have been ignored due to unconscious biases and ineffective filter-based screening methods. The customers can target a 40% improvement in the quality and diversity of hired candidates by implementing screening automation and a 50% reduction in recruitment costs by pre-verifying the candidate’s identity and credentials.

Transform essential HR functions to be more equitable and inclusive: The performance algorithms audit HR processes by ingesting internal company data and comparing it with the industry standards, scientific literature, and regional policies. Organizations can reduce the attrition rate by 30% by resolving inequalities in pay gaps and improving access to career growth and skill development.

Can you share some examples of how KarmaV’s AI technology has helped businesses improve their recruitment processes and achieve their diversity goals?

Ans: During our initial days, we worked with several companies and provided them with workforce transformation solutions – our innovations enabled them to decrease their attrition rate by 30% by addressing salary disparities, enhancing career advancement opportunities, and facilitating skill development. In addition to this, we also worked with corporate and academic experts to run pilot projects that resulted in a 40 percent improvement in the quality and diversity of hired candidates.

What sets KarmaV apart from other HR platforms, and how does it stay ahead of the curve in terms of innovation?

Ans: The gap between employee and employer expectations has widened significantly in the last few years. What adds more to this is the nature of HR tech solutions and their primary focus on improving process efficiency, which often comes at the cost of employee well-being.  It was in order to cater to this challenge, KarmaV was founded. Since its inception, KarmaV has been working towards helping organizations build a fair and inclusive culture for all employees by improving the diversity, equity, and inclusion (DE&I) status of organizations across the globe. The platform also allows organizations to connect their existing HR management tools (HRMS, ERP, CRM, ATS) with out-of-the-box connectors and KarmaV’s AI engine to start scoring and identifying inequalities within  HR functions like talent acquisition, compensation, performance reviews, learning, and rewards management.

How does KarmaV stay up to date with the latest advancements in AI and machine learning and incorporate them into its platform to continuously improve its offerings?

Ans: KarmaV’s AI monitors the nuanced changes that occur in socioeconomic trends and continuously audits various HR functions to recommend business leaders make more affirmative decisions. Our AI engine also can understand the evolving organizational needs and helps them match with the candidate’s profile. Additionally, our proprietary technology enables organizations to instantly identify and predict action areas, course-correct, and grow rapidly but more ethically.