Despite the high rate of unemployment in the US, 4 million job openings remain unfulfilled. Attrition and lost productivity contribute to $350 billion in annual losses for US businesses; outdated hiring and workforce management practices are largely to blame.
Used in the right way, big data technology can decode factors that contribute to smarter hiring and optimal employee performance. These findings challenge conventional wisdom about what makes great employees. Think experience matters? It doesn’t. Concerned that job-hoppers, the long-term unemployed, or even ex-convicts make bad hires? They don’t.
My co-founder Max Simkoff and I started Evolv after our own attempts at workforce management in executive roles failed. We personally struggled to retain and advance employees across a large workforce, even after painstakingly selecting and nurturing the “most qualified” candidates. This seemingly unsolvable problem left us wondering if there was a better way.