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FactorC [SMART 100, 2018]

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This 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.

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1. THE BEGINNING

This innovation initially came to life when…

Over the last 3 years, mental health author Graeme Cowan has taken over 5000 leaders through his half day workshop to increase team mental health and resilience. He was acutely aware that people forget most of what they learn unless there is repetition and practice. Brenden Carter started The Learning Hook so that he could scale engaging elearning for enterprise clients. Their innovative approaches have led to multiple awards. They were passionate about creating training to build healthier and more productive cultures but weren’t well known in this niche. Graeme and Brenden were introduced and FactorC was born.

2. WHAT & HOW

The purpose of this innovation is to…

The cost of mental ill health in our workplaces (estimated @ $11b p.a. by PWC) is unacceptable. FactorC delivers a mental health leadership mentor to managers phones, providing them the will and skill to deliver support to their team.

It does this by…

Enables managers to develop their team’s mental resilience and psychological safety via:

  • Training, guides, and just-in-time performance support.
  • Mood and other analytics for tribes and the organisation (the Moodmeter’s app is used organisation-wide)
  • Curated and customised content
  • Identifying the triggers of mood change and connecting people with just in time help.

3. PURPOSE & BENEFITS

This innovation improves on what came before because…

Most organisations rely on an Employee Assistance Program (EAP) to help distressed employees. Most organisations find that only 5% of employees access this service, versus the 20% that should be (based on research). Other companies use a short manager awareness program which isn’t deep enough, or a 2-day course which many find too time-consuming and impractical.

Its various benefits to the customer/end-user include…

FactorC allows senior leadership to monitor tribal, and company mood to assess their employees’ well being. It then recommends action-oriented 24/7 advice to increase team care and resilience. In the digital era, caring is the new unfair advantage.

4. COMPETITIVE LANDSCAPE

In the past, this problem was solved by…

The commercial and human cost of mental ill health in the past has been solved by:

– EAP programs (under-utilised)

– Expensive and lengthy face-to-face workshops (often 2 days) which are hard to scale nationally/internationally, and

– One off 10-minute awareness type online training modules (ineffective)

These interventions have proven to be inadequate, leading to escalating costs (human and commercial). During prototype testing and co-designing FactorC with Bluechip companies, we asked if they knew of similar products. They didn’t. There are individual mental health apps, but nothing like FactorC supporting managers to help team members and support culture change.

5. TARGET MARKET

It is made for…

FactorC: The Care Equation is designed for large organisations with 1000+ employees, and is for managers and leaders at all levels within:

– Insurance (due to workers compensation claims and their appreciation of the benefits of healthy workplace cultures)

– Professional services firms

– Government departments

– Health sector

– Retail

The secondary focus is on all employees, using the Moodometer’s whole organisation data to inform us on the triggers within different businesses and industry and what support will best help them build thriving tribes and caring cultures (sneakily creating more productive teams too!).

It is available for sale through…

Directly to our existing enterprise clients. We then plan to partner with workers compensation insurers and EAP providers to enable FactorC access for their clients. Ultimately, we plan to expand into the SME market via ecommerce.

Our marketing strategy is to…

Selling to our existing clients with a focus on workers compensation insurers. We are working with these insurance clients to conduct pilots with their key customers.

We are building awareness via short videos on LinkedIn, newsletters and speaking events. We will research the root causes of employee distress and seek publicity to share the problems and our solutions.

 

FINE PRINT: This 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.

Maven Judge Vote: FactorC – Smart 100 2018
(Please note – The form below is for judging purposes only and is restricted to the public)

 

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