pymetrics' FAIRTEST Selected as Finalist for Fast Company's 2021 World Changing Ideas List

NEW YORK, May 5, 2021 /PRNewswire/ -- This week, Fast Company announced that it has selected pymetrics' FAIRTEST reporting framework as a finalist for its 2021 World Changing Ideas Awards in the Politics & Policy category and an honorable mention in the CSR category.

pymetrics leverages behavioral science and AI technology to help enterprise companies build diverse teams of top performers. FAIRTEST, which stands for Formal Adverse Impact Reporting for Transparency in Employment Selection Technology, proposes a framework that provides public information about the fairness implications of hiring technologies.

In today's job market, employers rely on automated systems - like skills tests, resume reading systems, and automated screening platforms - to evaluate candidates. These systems have generally failed to disclose how their products affect different demographic groups, like women and people of color. The FAIRTEST framework proposes all automated hiring tools should report on demographic impact.

Fast Company has recognized pymetrics' FAIRTEST for applying consumer information standards to the HR tech industry. Specifically, FAIRTEST proposes that all hiring technologies should be labeled in terms of impact ratios (IR), or metrics that reveal how a hiring process affects different demographic groups. IRs summarize how a minority group fares during a screening procedure relative to the majority group. For example, if 100 men and 100 women are given an assessment, and only 5 women pass for every 10 men, the IR would be 0.5. The further away this value is from 1.0, the greater the disadvantage for the minority group. pymetrics' goal with the framework is to ensure all automated tools are examined for their effects on job applicants.

pymetrics believes that progress toward workforce diversity is only possible if the HR tech industry becomes more transparent about the implications of its products. "FAIRTEST is about promoting transparency in systems that have massive implications for equal opportunity in society," said Dr. Polli. "This transparency is long overdue. Our hope is to contribute to a future where the impact of these tools on overall goals of diversity and fairness is clear."

About pymetrics
pymetrics is at the forefront of the future of hiring – using data-driven behavioral insights and audited AI to create a more efficient, effective, and fair hiring process across the talent lifecycle. More than one million job candidates around the world have played pymetrics' games and the technology is live and compliant in 100+ countries, 17 languages and across web, Android and iOS apps. pymetrics leverages soft skills and fairness-optimized AI technology to help enterprise companies build diverse teams of top performers.

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SOURCE pymetrics