FOR IMMEDIATE RELEASE
By Chris Platts
Monday 7th November 2016
London, UK – London based startup TalentRocket announced today the official launch of ThriveMap®, after running successful beta programs with early users including HSBC, AOL, Belron International and TeeSpring.
ThriveMap® is a software application that predicts culture fit between individuals and teams.
It enables companies to make better, data-driven decisions and minimise the risk of “cultural mismatch” whether that's for internal team creation or hiring for culture fit.
The Problems Businesses Face:
The cost of a failed hire can be up to 60% of an employee’s annual salary.
Of these failures, it’s 9 times more likely they failed due to fit with the team than of technical competence.
Companies typically measure culture fit subjectively with “gut feel” screening leading to discrimination and hiring in your own image.
Forward thinking companies use psychometric profiling including personality, integrity and conscientiousness tests to predict job performance. Despite this marginal advancement over structured interviews, people are still failing at work due to clashes of working styles.
“Meet the team” style unstructured interviews often confuse sociability with compatibility
With ThriveMap®, companies map out their team’s ideal work environments, and compare that to candidates’.
Beyond personality, conscientiousness and integrity tests, ThriveMap is the first tool that measures how likely new hires are to succeed or fail based on practical insights about how a team works. This is done via a survey before the interview stage.
Unlike personality tests ThriveMap® does not place people into fixed categories, but shows where candidates sit on a scale of work preferences. By comparing candidates with the team group, ThriveMap® is able to provide visual, numeric and textual feedback on relative fit, and the specific areas where a candidate’s fit is strongest and weakest.
ThriveMap’s predictive engine is based on data from thousands of completed surveys and hundreds of conversations with managers and HR leaders.
The founders, Chris Platts and Mark Hla, see ThriveMap® as a natural progression from the employer branding platform TalentRocket. Conversations with over 350 HR leaders, combined with personal experience of over a decade in recruitment, and statistical verification, lead to the beta launch earlier this year. Since then, ThriveMap® has taken on the advice of multi-national corporations to build and develop the product.
TalentRocket is an employer branding platform and recruitment marketplace that connects people with great places to work.
Comments from Chris Platts, CEO and Co-Founder: “Rather than trusting existing theory we started from a position of understanding what data managers need to make better decisions. We were able to see that the best teams are full of different personalities, what they are not full of is people who prefer to work in completely different ways.”
“ThriveMap started in TalentRocket as a tool to help candidates find their perfect work environment. When we were showing companies what TalentRocket could do for their talent acquisition and they’d see the ThriveMap data on the type of culture candidates wanted to work in and started asking loads of questions. We knew we were onto something big.”
“Companies who are using ThriveMap for recruiting already have found that the insights have enabled them to predict team fit and avoid making costly mis-hires.”
For more information, please visit www.getthrivemap.com
Chris Platts CEO
+ 44(0) 207 193 8668