Employees across the globe are feeling isolated and disengaged.
Now a female-founded Cork company has received a $1m funding boost to tackle the problem.
Talivest, an employee analytics software company, has raised the cash from investors to accelerate the launch of its new Employee Energy Tool, a product that directly addresses the causes of discontentment and burnout among employees.
The Employee Energy Tool explores employee well-being and is used to predict employee engagement and flag employee burnout – two of the main factors driving the acceleration in the “Great Resignation”.
2021 has become known as the year of the Great Resignation. It is predicted that 30% of employees will resign by the end of the year. This month we focus on onboarding and it’s importance to your long term retention strategy. https://t.co/qkkplJpmIp #Onboarding #HR #employee‘s pic.twitter.com/LPAk1tft4m
— Talivest (@Talivest_HQ) October 5, 2021
A survey of 200 Irish executives revealed that energy levels are low across the board at 52%, with the majority of employees citing the relationship between themselves and line managers; and workload and emotional demands, being the biggest factors draining energy.
“Over the past two years, and more specifically, the past two months, we have seen the most dramatic shift in the labour market in a century.” co-founder and COO, Laura Belyea explains.
“Consequently, organisations need to move on from outdated employee engagement scores and focus on employee energy. Traditional employee engagement activity looks at how engaged employees are – but we see that employees can be highly engaged, but at the same time, can be unproductive.
“The difference is that employee energy is a much better indicator of the happiness and productivity of an employee, which is what sustains high performance. Organisations need a tool to understand the root cause of issues such as discontentment, in order to move the dial, and this is exactly what we’re building into our employee experience platform.”
The new funding is a follow on from a previous round in 2019 and is led by Cork entrepreneurs Dan and Linda Kiely.
Other previous investors include Nicolas Berggruen, Luxor Capital, Charlie Songhurst, Bryan Meehan (Blue Bottle Coffee), Anne Heraty (CPL), Liam Casey (PCH International) and Ronan Harris (Google).
The investment will allow Talivest to implement the tool with customers and hire key roles within the organisation including sales, customer success, marketing and technology to continue its platform development and customer growth.