Phenom Ranked Among Inc. 5000’s Fastest-Growing Companies for Fifth Consecutive Year
Phenom’s AI and GenAI Solve Organizations’ Hiring, Development and Retention Challenges
NEW YORK, August 13, 2024 – Phenom earned recognition as one of Inc.’s fastest-growing private businesses in America, marking Phenom’s fifth consecutive appearance on Inc.’s prestigious list.
“Designing products with AI and GenAI should focus on solving the real challenges faced by human resources, not adding flashy features,” said Mahe Bayireddi, CEO and co-founder of Phenom. “Our obsession is creating phenomenal experiences that are contextually relevant and continuously evolving. This commitment is how we help a billion people find and keep the right work.”
“One of the greatest joys of my job is going through the Inc. 5000 list,” says Mike Hofman, who recently joined Inc. as editor-in-chief. “To see all of the intriguing and surprising ways that companies are transforming sectors, from healthcare and AI to apparel and pet food, is fascinating for me as a journalist and storyteller. Congratulations to this year’s honorees, as well, for growing their businesses fast despite the economic disruption we all faced over the past three years, from supply chain woes to inflation to changes in the workforce.”
Phenom’s AI Technology Solves Organizations’ Hiring, Development and Retention Challenges
Driven by a purpose of helping a billion people find the right work, Phenom empowers many of the largest global enterprises with its Intelligent Talent Experience platform to ensure candidates find and choose the right job faster, employees develop their skills and evolve, recruiters become wildly productive, talent marketers engage with extreme efficiency, talent leaders optimize hiring processes, managers build stronger teams, HR aligns employee development with company goals, and HRIT creates a holistic tech infrastructure through seamless integrations.
Phenom has led the industry’s innovation by developing AI and GenAI-powered solutions that address the evolving hiring and retention challenges companies face today. Three advancements include the ability to hire employees at scale and adopt a skills-based approach to talent management, including:
Phenom X+: Since early 2023, Phenom X+ has empowered organizations with platform-wide generative AI capabilities that create better talent engagement and bolster efficiencies. X+ automates the creation of personalized content, surfaces actionable intelligence, and eliminates time-consuming tasks for candidates, employees, recruiters, managers, and HR teams. Designed to dynamically support an organization’s planning, hiring, retention, and growth needs by taking its unique context and data into account, Phenom X+ enables talent acquisition and talent management to achieve unprecedented levels of productivity. This year, Phenom expanded the impact of its generative AI with X+ Agents that understand, reason and rapidly complete tasks such as sourcing, identifying best-fit candidates, and fostering career pathing and employee development.
Phenom High-Volume Hiring: By shifting time-consuming transactional tasks into frictionless, hyper-personalized interactions, High-Volume Hiring enables recruiters and hiring managers to collaboratively source, screen, schedule and make job offers faster without sacrificing a great candidate experience. Defined by AI and seamless automated workflows, the integrated set of solutions combines Automated Interview Scheduling, One-Way Interviews, Hiring Manager, Career Site, Chatbot, and SMS or WhatsApp engagement. Phenom has recently added behavioral and language assessments developed by our in-house experts and I/O psychologists to keep candidates in the flow of the applications process, driving a 20% increase in completion.
Phenom Workforce Intelligence: Workforce Intelligence provides critical context that drives talent mobility and career development throughout the enterprise with deeper insight into supply and demand and skills gaps. With AI-driven intelligence and proprietary ontologies, HR and talent management teams can accelerate strategic workforce planning, scale succession planning coverage, offer personalized growth opportunities, and gain visibility into each employee — including skills and competencies, career goals, professional preferences, performance and engagement. Giving companies the ability to rapidly create job architectures enables them to accelerate their career pathing initiatives and discover thousands of skills they weren’t aware were available in their organization.
Register here for the only AI Day dedicated to human resources, and learn about AI and GenAI’s impact and use cases across industries. To discover why organizations rely on Phenom, book a personalized demo.
About Phenom
Phenom has a purpose of helping a billion people find the right work. Through AI-powered talent experiences, employers use Phenom to hire employees faster, develop them to their full potential, and retain them longer. The Phenom Intelligent Talent Experience platform seamlessly connects candidates, employees, recruiters, talent marketers, talent leaders, hiring managers, HR and HRIT — empowering diverse and global enterprises with innovative products including Phenom X+ Generative AI, Career Site, Chatbot, CMS, Talent CRM, One-Way Interviews, Automated Interview Scheduling, Interview Intelligence, Talent Experience Engine, Campaigns, University Recruiting, Contingent Talent Hiring, Talent Marketplace, Workforce Intelligence, Career Pathing, Gigs, Mentoring, and Referrals.
Phenom has earned accolades including: Inc. 5000’s fastest-growing companies (5 consecutive years), Deloitte Technology's Fast 500 (4 consecutive years), five Brandon Hall ‘Excellence in Technology’ awards including Gold for ‘Best Advance in AI for Business Impact,’ Business Intelligence Group's Artificial Intelligence Excellence Awards (3 consecutive years), and a regional Timmy Award for launching and optimizing HelpOneBillion.com (2020).
Headquartered in Greater Philadelphia, Phenom also has offices in India, Israel, the Netherlands, Germany and the United Kingdom.
For more information, please visit www.phenom.com. Connect with Phenom on LinkedIn, X, Facebook, YouTube and Instagram.
About Inc.
Inc. Business Media is the leading multimedia brand for entrepreneurs. Through its journalism, Inc. aims to inform, educate, and elevate the profile of our community: the risk-takers, the innovators, and the ultra-driven go-getters who are creating our future. Inc.’s award-winning work achieves a monthly brand footprint of more than 40 million across a variety of channels, including events, print, digital, video, podcasts, newsletters, and social media. Its proprietary Inc. 5000 list, produced every year since its launch as the Inc. 100 in 1982, analyzes company data to rank the fastest-growing privately held businesses in the United States. The recognition that comes with inclusion on this and other prestigious Inc. lists, such as Female Founders and Power Partners, gives the founders of top businesses the opportunity to engage with an exclusive community of their peers, and credibility that helps them drive sales and recruit talent. For more information, visit www.inc.com.
For more information on the Inc. 5000 Conference & Gala, to be held from October 16 to 18 in Palm Desert, California, please visit http://conference.inc.com/.
The Inc. 5000 class of 2024 represents companies that have driven rapid revenue growth while navigating inflationary pressure, the rising costs of capital, and seemingly intractable hiring challenges. Among this year’s top 500 companies, the average median three-year revenue growth rate is 1,637 percent. In all, this year’s Inc. 5000 companies have added 874,458 jobs to the economy over the past three years.
Methodology
Companies on the 2024 Inc. 5000 are ranked according to percentage revenue growth from 2020 to 2023. To qualify, companies must have been founded and generating revenue by March 31, 2020. They must be U.S.-based, privately held, for-profit, and independent—not subsidiaries or divisions of other companies—as of December 31, 2023. (Since then, some on the list may have gone public or been acquired.) The minimum revenue required for 2020 is $100,000; the minimum for 2023 is $2 million. As always, Inc. reserves the right to decline applicants for subjective reasons. Growth rates used to determine company rankings were calculated to four decimal places.
