September 8, 2024

Eightfold AI pricing 2024

John Kim

Co-founder @ Paraform

In this blog

What is Eightfold AI?Key features of Eightfold AIHow Eightfold AI transforms talent managementEightfold AI pricing in 2024Is Eightfold AI worth the investment?Conclusion

The future of recruitment and talent management is rapidly evolving, and Eightfold AI is at the forefront of this transformation. Having recently raised $220 million, Eightfold AI is ready to shake up the recruitment game with the power of AI and machine learning.

So let's get into how Eightfold AI works, its benefits, and what to expect in terms of pricing in 2024.

What is Eightfold AI?

Founded in 2016, Eightfold AI is a talent intelligence super-platform that uses advanced AI algorithms to help companies find the right people for the right jobs. It combines employee data, recruiting tools, and machine learning to create a smart network for talent management.

Think of it as a supercharged HR department that can match candidates to roles and manage your entire workforce.

Eightfold AI’s core objective is to match the right person to the right job by analyzing billions of data points from resumes, job postings, employee performance, and skills databases. By doing this, the platform aims to reduce unconscious bias in hiring, ensure better matches between candidates and roles, and optimize talent management across the board.

Key features of Eightfold AI

Eightfold AI stands out for its robust features, designed to help businesses make informed decisions about their talent needs. Here are some of the standout features and benefits:

1. AI-Powered Talent Acquisition: Eightfold AI’s recruitment platform uses deep-learning models to analyze a candidate's experience, skills, and potential. Instead of just matching based on job titles, it focuses on capabilities, which ensures candidates are aligned with the role’s requirements and future growth opportunities.
2. Diversity Hiring: One of Eightfold AI’s top selling points is its ability to help companies achieve diversity goals. By removing personal information in the hiring process and focusing on a candidate's potential rather than background, the platform ensures a more equitable and inclusive approach to recruitment.
3. Internal Talent Mobility: Beyond recruitment, Eightfold AI enables companies to leverage their existing talent pool by identifying internal candidates for new roles. This helps organizations retain employees, reduce churn, and create more career development pathways.
4. Upskilling and Reskilling: With the rapid pace of technological change, reskilling has become crucial for staying competitive. Eightfold AI identifies skills gaps within the workforce and offers personalized learning and development recommendations to help employees evolve and adapt to new roles.
5. Talent Intelligence Analytics: The platform also provides powerful analytics that give HR leaders a deep understanding of workforce trends, employee performance, and potential skill shortages. This data-driven approach allows businesses to be proactive in their talent strategy rather than reactive.
6. Candidate Experience Enhancement: Eightfold AI’s AI-driven recommendations streamline the application process and improve candidate experiences by offering personalized job suggestions and a more engaging interface.

How Eightfold AI transforms talent management

The platform's focus on data and AI enables companies to approach talent management strategically rather than tactically. Here’s how Eightfold AI is transforming talent management:

• Smarter Hiring Decisions: Eightfold AI empowers recruiters to make informed decisions based on a candidate’s potential and skills rather than relying solely on past job titles. This broadens the talent pool and helps companies find the best candidates who may not have fit traditional criteria.
• Proactive Retention: By identifying skills gaps and growth opportunities, Eightfold AI helps organizations retain top talent by offering internal career advancement, reducing turnover, and improving employee satisfaction.
• Increased Workforce Diversity: Traditional hiring practices are often biased, whether consciously or unconsciously. Eightfold AI combats this by focusing on skills and competencies, ensuring more diverse and inclusive recruitment practices.

Eightfold AI pricing in 2024

Eightfold AI does not have its pricing on its website but we did some research and estimate that the starting price of Eightfold AI’s talent intelligence platform is $650 per month

Is Eightfold AI worth the investment?

For larger companies focused on improving recruitment efficiency, reducing bias in hiring, and fostering internal talent development, Eightfold AI offers considerable value.

It can significantly reduce the time spent on recruitment, improve employee retention through better internal mobility, and ensure companies remain competitive by upskilling their workforce.

However, for smaller businesses or startups, the pricing may be a considerable investment.

Conclusion

Eightfold AI is leading the charge in using AI to revolutionize talent management. This powerful tool helps businesses recruit top talent, keep employees happy, and foster growth. If you're serious about staying ahead in the competitive job market, Eightfold AI is definitely worth considering.

Just remember, it's not cheap. So, weigh the benefits against your budget to see if it's the right fit for your company.