CEO INTERVIEW - PMaps improve hiring outcome through quick and scientific assessment
Please share with us briefly what you do.
I am CEO and Co-Founding Partner at PMaps. I handle Marketing and oversee Go to Market strategies at PMaps.
What were you doing before this?
I have worked with leading corporates for a decade in Tech solution delivery roles. My last stint was with leading credit rating firm Crisil (an S&P company) where I was involved in reinventing & automating workflows. In terms of education, I have done an MBA in Marketing and Technology.
Describe your product. How does it work?
PMaps is a visual-based assessment platform to measure the skill & personality of employees across life cycles. One of Pmaps’ core differentiators is the fact that we offer picture-based assessments, ensuring that the assessments are universal and removes language biases while assessing a candidate. Our platform can also measure non-technical skills in entry-level job seekers through our in-house developed AI Simulators.
What are the key benefits?
PMaps improves hiring quality and reduces the onboarding time of new hires. In post-hiring, our platform can enable you to make better employee decisions, say promotion and training identification.
Who are your closest competitors?
Usually, our competitor is one-hour long behavioral interview session conducted by trained IO Psychologists but in terms of product, our closest competitors are companies like Traitify though we aim to specialize in the entry-level, non-technical, mass recruitment assessment space.
Who is your first customer and how did that happen? What were they using before this, and why did they switch?
Our first client was a company named Medusind (i.e a US-focused Healthcare outsourcing company). - that was manually assessing candidates at the time of hiring through interviews and spreadsheet-based tests. We proposed our platform for removing unnecessary rounds of interviews & suggesting web-based assessment. Not only have we improved the hiring process but made it seamless and hassle-free.
What motivated you to start this business?
Out of all factors of production i.e. Land, Capital, Entrepreneurship, and Human, it's only later where our decisions are not data-driven or objective. Additionally, most businesses are people-driven but still, people's decisions are all gut instinct or based on emotion. I value the power of intuition but not on the cost of reasoning. I feel valuing both “Feeling” & “Thinking” while making a people-based decision will go a long way to make a better decision at work.
What is your biggest sacrifice to make this work?
Leaving a well paying corporate job was the first big sacrifice that I can think of. Leaving a safety net especially in Asia was a real jolt. But as we move ahead in our journey, thin lines that used to exist between personal and professional life get further blurred. My office became my new home, co-workers became my family and, in that obsession, both my personal & health took a big hit. Looking back I sometimes ask myself - Is it all worth it and still answer comes “Yes” and “Certain Yes”
My Co-Founder was an Investment Banker and he pitched our ideas to his professional network. Fortunately, a serial Indian Entrepreneur took a leap of faith and backed our idea.
What has been your most successful form of marketing?
Email marketing has been our most successful form of marketing to date. We send drip email campaigns to our prospective clients and ask for their valuable time for a brief pilot. To supplement email campaigns, we also design marketing flyers across various social media platforms.
Describe a typical workday
My typical workday starts with creating a list of tasks to be done today. But with experience, now I make it a point to assign weightage in terms of likely business impact to these lists of tasks and only focus on the top 3 for a day. Not to forget, my 15-month-old baby who keeps up my spirit during a typical workday :).
Who has been the greatest influence in your business and why?
Our Anchor client i.e Vodafone Idea & Angel Investor are the greatest influence in our business. Our anchor client enabled us to find “Product fit” and our Angel investor gave us sufficient runway to find “Market fit”.
What has been your proudest moment in the history of your business and why?
Convincing an overseas client to try our product and subsequently improving hiring quality was the proudest moment. This successful client deployment gave confidence to our team that we are solving a Global need and we can solve the problem in a universal manner.
What is your favourite business failure (and what did you learn from it)?
We did a one-year-long pilot for a leading Insurance player. We deployed 5 FTEs and made lots of pivot to our Tech platform in the greed of serving this client. Those pivots were too fatal and had a big opportunity cost. At the end of the day, the Client gave an excuse for the budget and silently stopped picking our calls.
This made us realize our sunk cost fallacy and gave a lesson that all pilots should be fixed tenured & should be backed by Terms & Condition.
If you could go back in time to speak to your 20-year-old self, what would you tell him/her?
I would tell myself that Business offers unparalleled adrenaline rush & excitement but do not get so immersed in the excitement that you forget the present moment (say health or family life). Having said that, it's a wonderful experience and makes me suck marrow in life.
What’s one productivity hack you can’t live without?
I can’t do away with Hangout to collaborate with my team and our CRM Suite.
FOR MORE INFORMATION
Website : https://pmaps.in/