Lavan Financial Group Blog

Compelling analytics

Summary dashboard employee display

The platform houses talent data for current and prospective employees continuously displaying predicted performance along with client verified performance results. This local validation offers the strongest correlation to efficacy available by being able to unequivocally answer the question: “Does the unique blend of psychographic measures combined with business intelligence data give us the performance outcomes we’re seeking from our evaluation of the existing employee cohort?”

Performance fingerprints are possible due to a unique application of convergent technologies providing a level of insight not seen before. Unlike other performance evaluation and predictor methods that intend to answer the question can someone do the job? and how they might go about it. Fingerprints deliver a forensic level of analysis that answers the question will they do the job and by how much.

Observed production tracks to within 15% of predicted - Powered by Perception Group

Deeper analytics

The orange regression line above displays the correlation (r = 0.763) for a team of 61 quota carrying account executives. The team fingerprint has an extremely high correlation to performance. This tech company has now formed their 3rd fingerprint where the average observed performance tracks ~90% of predicted metrics.

Each blue dot represents an employee's plotted actual performance KPI ($revenue) versus predicted (orange regression line).

As time evolved performance fingerprint intelligence has enabled this company to systematically increase team performance, reduce the number of under performers to close the productivity gap, and inflect higher revenue outcomes.

A fingerprint adds a new dimension of information

Employee performance matrix

A scientific evaluation of potential reveals unseen value and performance relationships by understanding the gap between observed and predicted performance. The performance matrix below reveals the benefit by understanding what is casual and what is causal. Employees that previously appeared "alike" other performers may have very different potential in multiple roles. Insight and prescriptive actions enable greater return on resource allocation.

This insight leads to better employee investment decisions; selection, hiring, development, where to invest training, and coaching dollars and how to diagnose engagement hurdles.

Six moves increased annualized revenue by $2.5 million without an increase in fixed costs.

This client replaced 3 low performers, confidently hiring 3 candidates with higher predicted performance. Additionally, given predicted performance insight they identified 3 under-performers, coaching them to increase annualized revenue by a combined by +$2.5m. New insight provides leaders with confidence to manage sellers. Outside of emotional ties leaders can be hesitant to replace low to mid performers, often uneasy with the uncertain outcomes. Reliable data instills confidence in managers making decisions.

Deployed relative value strategy - RV

Maximize the fixed cost of employees

Performance fingerprints provide a precise way to systematically increase the number of top-performers, reduce miss-hires and mitigate hiring bias. They offer the opportunity to develop a deep understanding of employee fixed costs (salary, benefits, etc.) versus performance. Leaders can rethink their organizational structures and human capital needs. For example, it is possible to realize the same performance with a smaller but more capable team, bringing on more junior, but equally effective talent. ‍

Machine Learning and People Intelligence Platform

A People Intelligence Platform extracts meaningful insights from a rich variety of proprietary talent and workforce data in new and unique ways. Our machine learning enabled systems are engineered to produce predictive Selection - Development - Retention intelligence for client teams and key job roles. The technology platform is capable of analyzing historical and real-time data, as well as forecasting the future, to distill what’s valuable to managers and the business, including detecting relevant patterns and producing descriptive, predictive and prescriptive analytics that deliver actionable insights and enable much quicker, smarter decision making.

Three use cases

Better Incoming Talent:

Quite simply, the system is designed to create a bias-free method for hiring the right talent with the greatest probability of being a top performer in a specific job-role.

Improve Existing Team:

Secondly, the talent intelligence from the Platform provides data about who to promote, potential career paths, and how to invest enablement resources (e.g., training and coaching) most effectively, for promotion and career paths. As new Performance Fingerprints are added and new performance data ingested, the system identifies how effective employees will be in other job roles. As for enablement, the Platform provides clear data about where candidates may struggle, providing clear direction for training and coaching. And because the predictive models make it possible to identify who is reaching their potential versus who is not, the Platform provides intelligence about where to invest valuable resources.

Deep Analytics and Learning:

The third use case is for more formal strategic workforce planning and people analytics. As the Platform continues to get smarter with more data, it can then begin to predict more complex longitudinal outcomes such as tenure, turnover, absenteeism, or low-base rate criteria like safety incidents. From employee fixed costs(salary, benefits, etc.) versus performance, leaders can rethink their organizational structures and human capital needs. For example, it may be possible to realize the same performance with a smaller but more capable team or for the same cost, bring on more junior but equally effective talent.