Year in Review
2017 has been our busiest year by far. Not only have we doubled the size of the business, we have also doubled the size of the employee herd, the result of which saw us relocate our offices to the Guinness Enterprise Centre (GEC) in Dublin. We have also re-engineered our technology to ensure that we achieve the very highest security ratings and are entirely GDPR compliant. Frustratingly, this sort of technology developing is time consuming and goes almost entirely unnoticed by 99.99% of our users. Fortunately, it’s now complete so we can turn our attention back to the on-going development of our Artificial Intelligence and helping clients leverage greater employee productivity and performance improvements.
Talking of which, the latter part of 2017 saw us introduce psychometrics into the AI to help our clients who use our on-boarder product to more accurately predict new recruits who pose a flight risk in the first 12 months post recruitment. Not only is the combination of AI and psychometrics able to accurately predict those recruits who are having second thoughts, but it can also manage a ‘save’ intervention. That’s right, Nelly is now able to step in and help by nominating an intervention agent in the locality and providing them with a specifically tailored intervention pack and step-by-step guide to a structured intervention session.
Nelly doesn’t stop there. She then polls both the flight-risk employee and the intervention agent to establish their feedback from the intervention and then uses this feedback to not only further refine the strategy for that individual flight-risk employee, but also future employees presenting similar issues/profiles.
As you can probably tell, I am really excited about this development because many of our clients recruit large numbers of new employees every year and the cost of ‘mis-hires,’ (as the Americans refer to them) can be really draining on an organisation. One client of ours, for example, ascribes a value of £50k to every regretted loss manager (new recruit manager who leaves in the first 12 months against the wishes of the employer), which undoubtedly is a substantial loss of time and investment for the client in question. In response to this, we have done the historical analytics so that we can readily identify flight-risk candidates, intervene and save a percentage of these managers, the value of which is enormous and covers Nelly’s fees many times over.
Moreover, I’m pleased to say that there will be plenty of product developments in the pipeline as well as a major focus on helping clients to extract business benefits from Nelly. The eagle-eyed among you will have noticed that we are subtly re-positioning Nelly to help our new-to-Nelly organisations understand that knowledge retention improvements underpin often easy-to-harvest productivity and employee risk-reduction benefits. It isn’t just about ensuring employees learn and retain what they are trained, it is about ensuring this improvement has a material and positive year-on-year financial benefit to the employer.
Having managed more than 50 million individual knowledge interventions in 2017, we have a significant and unique database of employee knowledge competency and capability. As a result, we are actively exploring benchmarking opportunities within the energy and building society sectors, and based on these outcomes, we will plan to expand this benchmarking to other sectors.
Kirsty, our Client Services Director whom most of you know, will be organising more face- to-face client events during 2018. Our last event, a question-writing workshop where co-founder Dan Gray ventured forth from the carrot fields of Norfolk to share six years’ experience of authoring questions, was hugely successful and we received lots of lovely feedback and we would just like to say thank you to all that attended.
If you have any ideas on what you would like Kirsty and the Dublin support team to cover at one of these events please drop me a line.
For the more playful amongst you we will have a mammoth announcement to make in the first quarter of 2018 that will give each and every client and employee a unique opportunity to be famous. Watch this space and as soon as we can tell you more we will.
Finally, I want to take this opportunity to wish all our lovely loyal clients a Happy Christmas and a wonderfully productive 2018.
By Adrian Harvey