GrowthSpace posted on 30 Dec 2021
What keeps CEOs up at night is worrying about how to attract, recruit and retain workers. The job market is so challenging that Apple is awarding bonuses up to $180,000 to keep software engineers from being poached by rivals like Meta, Amazon and Google. Deskless people who work in warehouses, fulfillment centers, restaurants, bars and department stores are being offered sign-on bonuses, wage increases, flexible schedules and free college tuition.
Innovative startups are seeking out new creative ways to help businesses mentor, upskill, cross-train and help employees succeed, so that the odds will increase that people will stick around. GrowthSpace, an Israeli-based tech company, offers a clever way to help CEOs fight attrition by offering personalized learning and development programs (L&D), driven by an artificial intelligence data-driven platform.
The startup connects workers with an appropriate mentor. The employee will have one-on-one, personalized programs that match each employee’s challenge with the right expert, coach or mentor. In addition to specifically tailored advice and guidance, based on the employee’s needs, managers receive feedback simultaneously that measures progress to ensure the plan is efficient and effective.
Providing personalized employee development plans include, in part, improving social, communications and critical-thinking skills, offering leadership and management advice and succession planning. A measurable plan needs to be put into place.
The company has to figure out what specific types of skills are lacking in a worker, listen to their self-reported pain points and needs for improvement. In response, management should find ways of delivering the guidance, hand-holding and actionable advice. The program must set targeted goals, including KPIs on development completion and manager involvement to ensure that the plan is successful.
The rapid momentum of GrowthSpace’s platform tracks with today’s quickly changing and evolving workplace. The pandemic, remote work and the “Great Resignation” radically altered the business landscape. Leadership can no longer take employees for granted. Management must do whatever it takes to make them feel happy, appreciated, well-paid and offer a clear career path forward within their firm.
The company grew its “expert pool” by 50% during the 2021 and boasts more than 1,000 mentors, coaches and trainers who offer employees actionable guidance and counsel. These experts are the centerpiece of GrowthSpace’s platform, which integrates more than 300 hard and soft competencies, taught in over 40 languages across some 50 countries, in an effort to help employees improve upon their job performance.
GrowthSpace also rapidly increased its customer base, doubled revenue and received venture capital funding. The company added Siemens, GoFundMe, Monday.com, Check Point, Ernst & Young, Intel, Johnson & Johnson and Nespresso to its roster.
Omer Glass, CEO and cofounder of GrowthSpace, said about the platform’s success, “The fast pace of achievement here at GrowthSpace is thrilling but not surprising, given that we’re the first in the market to offer a data-driven and quick time to value approach.”
Glass added, “I am proud of our team because we have proven our solution. Growth with our existing customers, as well as the potential for entering new markets, has GrowthSpace poised for an exciting future in 2022 and beyond. We are now developing significant customer interest from verticals like mining, retail, pharmaceuticals, and life sciences, as well as hospitality, healthcare, telecom, and the consumer packaged goods industries.”
Customer Michelle Corbett, director of people at Earthbound, said, “GrowthSpace has been a wonderful addition to our development offerings at Earthbound. With GrowthSpace, I can offer an incredible executive coaching experience to members of our team who wouldn’t typically be eligible.” Corbett added, “As a small company with a small HR team, GrowthSpace has given us the power to develop our employees and invest in their personal and professional growth.”
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