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The following SMART 100 profile and the information it contains is a duplication of content submitted by the applicant during the entry process. As a function of entry, applicants were required to declare that all details are factually correct, do not infringe on another’s intellectual property and are not unlawful, threatening, defamatory, invasive of privacy, obscene, or otherwise objectionable. Some profiles have been edited for reasons of space and clarity. More about the SMART 100.
Employee Attachment Inventory — EAI (NSW)
This innovation initially came to life when…
Anthony Sork, an employee engagement expert, detected a gaping hole in the market for a product that could help businesses save hundreds of thousands of dollars in staff turnover costs. Having spent a great deal of his career having conversations with HR/Recruiters/Hiring Managers, Anthony recognised that no one was paying any attention to the bonds new employees were forming with an organisation, and how this honeymoon period of three months would set the resting point for how much effort the employee was likely to put in after they passed probation. The EAI is patented in Aus/NZ.
WHAT & HOW
The purpose of this innovation is to…
Help organisations reduce the risk of early employee attrition for their 0-18-month tenure range by providing hiring managers with objective data/insights into how well a new recruit has bonded to the business across 20 “drivers” of attachment.
It does this by…
Surveying a new employee online at their 90th day — asking 100 general questions relating to their onboarding experience. An EAI Feedback Report is then sent to the hiring manager outlining the overall attachment score, plus individual driver scores complete with observations, recommendations and conversation/dialogue prompts for the manager to use at probation review.
PURPOSE & BENEFITS
This innovation improves on what came before because…
No one else was measuring attachment (i.e. the strength of bond between new employee and organisation within the first 90 days). This is a true innovation as we have created a demand amongst HR/Recruitment professionals for a product that they didn’t even know they needed — nothing comparable was available when we developed and patented this tool.
Its various benefits to the customer/end-user include…
- Reduce risk of early employee attrition;
- Achieve a faster ROI through discretionary effort and performance;
- Accelerate time it takes for new employees to reach minimum level competence and profit contribution/ROI;
- Objective data to improve retention strategy.
COMPETITIVE LANDSCAPE
In the past, this problem was solved by…
Taking a broadbrush approach to employee retention. Organisations look at total turnover rates when they should be focussing on turnover of employees who leave before 18 months — this group hasn’t even broken even on the cost incurred in recruiting and upskilling them. So big financial losses when they walk out the door prior to 18 months.
Its predecessors/competitors include…
No competitors — this is a first-to-market patented instrument. At best the competitors would be employee engagement experts but none of them focusses on the 0-18 month tenure range. Their solutions focussed on “winning back” disengaged workers.
TARGET MARKET
It is made for…
Recruitment agencies: they provide the EAI as a value-added service for permanent placements. It helps them protect their guarantee period ($$$) by retaining an element of control over how well their client onboards/attaches/bonds the candidate.
HR Managers: to provide their line managers with a useful report to help them make improvements for any low-scoring driver.
The businesses we target are mid-to-large with recruitment intakes of 50+ per year, but many of our clients are from small businesses hiring just a handful per year.
DISTRIBUTION STRATEGY
It is available for sale through…
Our recruitment agency partners, accredited practitioners network of independent consultants, plus direct through our company, Sork HC.
Our marketing strategy is to…
Build long-term relationships with the HR/recruitment community by maintaining a regular presence on social media (e.g. Linkedin group has over 700 members, in addition to our blog and Twitter). Sydney Morning Herald, Financial Review, Anthill, ABC Radio, Recruitment Extra have all featured the EAI as editorial. Regular guest speaker events/conferences (approx. 30 per year).
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