joberate
DESCRIPTION
HR Tech 2014TRANSCRIPT
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Measuring and quantifying job seeking behaviors of the global workforce Michael Beygelman, CEO 23 October, 2014 Amsterdam Proprietary & Confidential
Changing jobs is a life event 2
3 We know very little about job seeking behaviors
4 Societal changes are redefining what it means to be a job seeker
Source: CareerBuilder
5 Social web has become a massive disruptor Today, more data about people sits outside of all companies’ HRIS systems
6 Retention challenges have become a global phenomenon
7 A massive problem every organization is struggling to solve
8 Tools outside core HRIS have largely focused on attraction/assessment
Source: Talent Equity Venture and Talent Tech Labs
9 Frustration about lack of actionable engagement/retention analytics
Huge opportunity for early adopters to leverage success of pioneers
“The Human Capital Management (HR) technology market is $11B-$14B, which represents only 11% of employers that have reached maturity in HR tech, thus leaving a huge opportunity for investment and growth.”
LLR Partners and Bersin by Deloitte
11 Adjacent HR tech companies might develop their own solutions
In doing so, they will help to raise awareness/bring attention to the business problem
12 Joberate defined this new category and gained a competitive advantage
Joberate developed a machine learning predicative analytics engine, which leverages publicly available data to measure and quantify individual job seeking behavior into a score, called J-Score.
Organizations can measure individuals and talent pools to gain actionable insights. They can also comparatively benchmark their people or talent pools against industry peers.
13 Launched J-Index to measure Fortune 100 companies
J-Index measures, in real-time, a statically valid sample of Fortune 100 employees. It is a leading indicator of voluntary employee attrition, employee satisfaction and engagement, and should become an integral component of global employment sentiment. Future versions of J-Index will measure Global 2000 companies and enable user personalization. J-Index is envisioned as a destination of valuable information for companies and government agencies, while serving as a marketing tool to raise awareness.
14 The opportunity to exploit this technology is tremendous
Comparative benchmark!Analyze any number of variables to understand employee job seeking trends!
Analyze trends in specific groups!Trends view instantly shows activity at each job seeking level over a period of time from three months to five years.!This view helps to quickly and intuitively identify cyclicality or seasonality to job seeking behaviors, and can also be correlated to other company initiatives.!
Workforce planning!Forecast employee attrition and retention rates based on job seeking behavior!
Monitor workforce development plan!The inclusion of Joberate analytics into a workforce planning initiative are essential to mapping the most accurate current workforce profile of any organization.!API integration plus exporting functionality enables Joberate technology to easily integrate into any environment.!
Real-time analytics and insights !Organizations leverage Joberate to gain valuable business intelligence!
Details about people and teams!Drill down further into details about a specific person or workgroup, or any other team that you define in the system.!The technology also creates the possibility to look at hiring managers and their direct reports, to paint a better composite of what is happening at the team level.!
15 Business use case
Joberate helped reduce voluntary leavers by identifying at risk employees, whose commute to work increased as a result of construction traffic. Company was given advance insights about possible employee attrition, and was able to institute a hybrid work from home program while construction on the highway was finished. 2 employees had previously resigned the company with unbeknown reasons, costing appx. € 32,000 to replace. The new initiative saved the company appx. € 60,000 because 4 additional employees were at risk of leaving, but were retained by the program.
