The COVID pandemic led to the worst recession in history, with GDP down 33% and millions who have lost their jobs. Interestingly, over the past few months as businesses looked to restore their staff amid vaccine optimism, the workplace has experienced an unprecedented surge in resignations, resulting in a massive labor shortage known as the Great Resignation. Nearly 4 million Americans left their jobs in April and 40% of people are looking to change jobs this year.
As employees rethink not only their careers but also what their expectations are for their working life, organizations need to rethink how to engage and retain employees through more flexibility and more learning and growth opportunities. Many approaches, including raising wages and incentivizing better benefits, have been attempted but are unsuccessful. So what is it going to take? We think the answer lies in gaining the ability to gain data-driven behavioral insights.
pymetrics provides companies with a reliable and consistent way to identify the essential soft skill of a workforce. Our platform gathers data from candidates and employees in real time to provide an objective view of each individual’s innate behaviors and strengths. We evaluate soft skills such as decision making, focus, effort, risk tolerance, attention, and more with a single streamlined gamified assessment.
pymetrics’ Workforce Insights enables leaders to understand information about individuals, teams, and functional groups equipping each with the information needed to anticipate change and meet business challenges. Whether the focus is to understand how teams are similar and where they differ across regions, seniority levels, tenure, or visualize how employees compare to global competitive benchmarks, managers can close the gaps and hold on to their workforce.
In order to ensure Workforce Insights is actionable at an individual level, managers are equipped with personalized development reports on each employee to drive 1-1 coaching in a scalable and data-driven way. A study by Lighthouse research shows that 88% of employees would have stayed with their employer if developmental opportunities were available. Employees are also empowered with these personalized reports to discover their inherent strengths and growth opportunities.
Finally, employees can be matched to any role within the organization and determine their inherent fit to a range of paths. By overlaying our scalable success profiles of success (either custom or pre-built), we can mobilize your workforce into the right roles for the future based on their fit.
To read more about the tools and initiatives HR teams should prioritize to shape talent readiness, sharpen their competitive edge, and generate lasting business outcomes, check out this free whitepaper.