In our work with hundreds of top fast growth startups and globally-distributed Fortune 1000 corporations in our enterprise tech ecosystem here in NYC, the most common refrain we hear is: "managing people is hard."
Dealing with Poor Performance - get the full picture from 3C Performance Mana...
AI to Enable Next Generation of People Managers
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AI TO ENABLE NEXT GENERATION
OF PEOPLE MANAGERS
Jessica Lin, Co-Founder & General Partner, Work-Bench
@jerseejess | May 2017 | #futureofteams
FUTURE OF TEAMS
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In our work with hundreds of top fast growth startups and
globally-distributed Fortune 1000 corporations in our
enterprise tech ecosystem here in NYC, the most common
refrain we hear:
Managing people is hard.
(Note: I also personally worked with a management coach last winter, which was one of the most
transformative experiences in my career to date.)
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THE NUMBERS
Gallup, 2013
Disengaged employees caused by bad managers cost
the nation’s companies between
$450 million and $550 million
in lost productivity per year.
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CHANGING FACE
(AND AGE) OF
MANAGERS:
RISE OF
MILLENNIALS
More than 50 percent of
millennials now have four
or more direct reports.2
1 Pew Research, 2015
2 Deloitte Millennial Survey, 2017
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“Why Do We Spend So Much
Developing Senior Leaders and So
Little Training New Managers?”
- Harvard Business Review
HBR, 2016
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RISE OF NEW MANAGERS DEMANDING
DIFFERENT WAYS OF LEARNING…
OLD
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• In-person training or executive coaches
• “Binge education”
• Expensive
• Usually only targeted to certain roles or levels
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RISE OF NEW MANAGERS DEMANDING
DIFFERENT WAYS OF LEARNING…
OLD NEW SHIFT IN EXPECTATIONS OF TOOLS +
PLATFORMS TO SUPPORT CAREER DEVELOPMENT
• Micro-Learning
• Data and technology driven
• Real-time, continuous feedback
• On-demand, time of need learning
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• In-person training or executive coaches
• “Binge education”
• Expensive
• Usually only targeted to certain roles or levels
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PLETHORA OF PULSE SURVEYS, CULTURE FEEDBACK, EMPLOYEE ENGAGEMENT &
RECOGNITION TOOLS
Bersin by Deloitte, 2017
We’re seeing many
companies tackling
employee
engagement
by pulling data and
feedback…but that
alone isn’t
enough…
TRADITIONAL
ENGAGEMENT SURVEYS
PULSE SURVEYS
WORK
ENVIRONMENTS
QUICK FEEDBACK
ANONYMOUS
NETWORK APPS
PERFORMANCE
MANAGEMENT
SOCIAL
RECOGNITION
CULTUREWELLBEING
v
e
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WHAT’S OUT THERE NOW
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Analytics
Analyze a body of data or insights
Platforms to collate data and analyze for
real-time Pulse…
But what do you do with this data?
How do you generate a predictive recommendation
that can deliver corrective behavior change where
and when it is needed most:
directly within your org, with your middle managers?
Feedback
Collate employee feedback in real-time
Recommendation Engine
Generate a set of predictive, actionable recommendations
Interface
Deliver recommendations directly to individual team
member (line manager, etc) to affect behavior change
THE FEEDBACK LOOP
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OUR HYPOTHESIS
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We predict seeing a much-needed shift from in-person manager training to
a technology-enabled solution, especially given the rise of millennials as
managers.
The key for successful people manager tools will be collecting data: the
more data you have, and the more proprietary it is, the more insights you
can generate for people managers.
Furthermore, whoever is going to be the biggest player in this space will
be able to take that data, deliver predictive actionable insights down to
the line manager (vs. only for HR & C-Suite), and combine it with
frictionless user experience on the front-end to help you be a more
effective manager.
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AS FITBIT PROVIDES
QUANTIFIED SELF
RECOMMENDATIONS…
COULD MANAGERS BE
OPEN TO SIMILAR
RECOMMENDATIONS?
POTENTIAL USE CASES FOR MANAGERS
• Catalyze Daily Progress and Remove Barriers:
“Check in with Sara on recent project updates and budget cutback”
• Give Feedback and Ask for Feedback
• Thank the Employee: “Give shout-out to Lauren at upcoming team meeting
for recent customer success win”
• Provide Development Opportunities: “Touch base with Tyler on speaking at
upcoming conference”
• Set Clear Expectations & Be Inclusive and Communicative about Change:
“Schedule time with team to discuss recent re-org and ensure all aligned on
how this impacts our Q4 objectives”
Early MIT research on emotion tracking alerts you when you may be acting
awkward in conversation…can we see a day when a wearable will tell you that
you are not being collaborative enough in a meeting, empathic to a direct
report, etc?
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Fitbit notifications pop up on your smartphone to keep
you moving towards your fitness goal:
“Almost there! Get 500 more steps to hit your goal.”
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WILL MACHINES EVENTUALLY BE MORE EFFECTIVE MANAGERS
THAN HUMANS?
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• Data Inputs and Pattern Recognition for Better Decision-Making
• Real Time Performance Feedback and Real Time Guidance
• Personalized Customization
• Bias Reduction & Anonymity
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STARTUPS OF INTEREST
Still an early space — but some startups we’re tracking in this management
training and coaching space incorporating a predictive recommendation
layer…
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…
BUTTERFLY.AI
Use Case | If you’re looking for feedback from a virtual management coach…
www.butterfly.ai
HQ: New York, NY
VCs: Precursor Ventures
Funding Raised: $790K
Butterfly is an employee intelligence and
management coaching software that offers
real-time leadership coaching to
continuously develop managers based on
team feedback.
How does it do this?
• Via regular "pulse" surveys, Butterfly collects team engagement & happiness data via integrations with Slack, Office and G-Suite and other workplace
collaboration tools
• Team data informs a self-learning virtual coach, Alex, which provides managers with ongoing and personalized leadership coaching
Why does it stand out?
Butterfly democratizes executive coaching, making to available to all managers through a personalized, AI-based training system that's rooted in the
realities of a manager's team and work environment.
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Use Case | If you’re looking for diversity and inclusion coaching…
www.joonko.co
HQ: San Francisco, CA
VCs: Techstars, Kapor Capital
Funding Raised: Undisclosed
Joonko is an AI-powered personal diversity and inclusion coach
for companies. The company integrates its system into its
clients’ SaaS platforms and analyzes actions in real time.
The only solution that solves
unconscious bias in real-time
A Data-driven solution for
workforce inclusion
Organizations can’t improve what
they don’t measure — and that
includes fairness and inclusion
Real-time solution
for the real world
We analyze real decisions,
actions, and events as they occur
in the company
AI-powered diversity and
inclusion coaching
Engaging in humanized way, with
insights and recommendations to
enable real-time corrective actions
How does it do this?
• Joonko platform ingests data from Salesforce, Jira, Greenhouse and other ATS.
• Identifies potential occurrences of unconscious workplace bias and immediately engages the relevant executive, manager, or employee to offer
real-time corrective action
Why does it stand out?
We know unconscious bias happens; Joonko uses data to identify such specific instances and generates corrective action to improve.
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Use Case | If you’re looking to understand your team’s knowledge retention…
www.hickorytraining.com
HQ: New York, NY
VCs: Y Combinator, Draft Ventures, Notation Capital
Funding Raised to Date: Undisclosed
Hickory is a training tool that focuses on retention which
helps you hire more people capable of being experts at
their position.
How does it do this?
• Trainers and instructors use the Hickory platform to build out training modules.
• The platform flags when an employee is likely to forget and emphasizes continuous learning and review, that optimizes information recall.
Why does it stand out?
To date, there has been no data-driven way to understand each individual employee’s retention of knowledge. Hickory offers this personalized learning
solution for corporate training.
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Use Case | If you’re looking to understand the most effective way to communicate with a team
member, a prospect, or customer…
www.crystalknows.com
HQ: Nashville, TN
VCs: Salesforce Ventures, Birchmere Ventures,
Corporate Executive Board
Funding Raised: $2.44M
Crystal helps you communicate with anyone based on
their unique personality. Using an assessment to
determine behavior, the platform analyzes text and
feeds you real-time insights and coaching on your email
communication.
How does it do this?
• Crystal generates an assessment profile of an individual, based on public sources of data.
• The platform then provides a number of ways to coach one’s writing directly within the email client, with advice, email templates, and dynamic
recommendations.
Why does it stand out?
Crystal helps with one of the hardest parts of coaching - the soft skill of navigating communication styles.
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Company Website HQ Investors Funding Raised Description
COACHING: SALES TEAMS
Gong www.gong.io Palo Alto, CA Norwest Venture Partners $6M
Gong uses artificial intelligence (AI) to analyze spoken conversations
from audio sources
People.ai www.people.ai San Francisco, CA
Y Combinator, AVentures
Capital
$120K
People.ai empowers sales leaders to be more effective at managing
their teams and growing revenue by giving them a complete picture
of sales
Chorus.ai www.chorus.ai San Francisco, CA
Redpoint, Emergence Capital
Partners
$22.3M
Coach effectively without shadowing calls. Chorus does the heavy
lifting of listening and analyzing for you, making pipeline review more
impactful and coaching more scalable.
VoiceOps www.voiceops.com San Francisco, CA
Accel Partners, Founders Fund,
Lowercase Capital, Y
Combinator
Undisclosed VoiceOps is a platform for AI-powered analytics for sales calls.
COACHING: CUSTOMER SERVICE TEAMS
Cogito www.cogito.com Boston, MA
OpenView, Romulus Capital,
Salesforce Ventrues
$22.5M
Cogito’s application guides agent speaking behavior and
automatically measures customer experience on every call.
Gridspace www.gridspace.com San Francisco, CA
Bloomberg Beta, Wells Fargo
Startup Accelerator
$250K
Gridspace turns your speech audio into useful data and service
metrics, by instrumenting your contact center and work
communications.
Use Case | If you’re looking for platforms for coaching your sales or customer service teams…
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Cost What does this solution cost vs. my current solutions? (other platforms, consultants, etc)
Integration Can this new solution integrate with our current LMS systems, Active Directory, etc? How much customization is required?
Existing Solutions Does this solution deliver a better result than what we currently have today?
Privacy, Security, Liability Given HR employee data, what do I need to be careful about - from a data privacy, security, and liability perspective?
End User Ease of Use Easy things get used complicated things get ignored (so companies do not want to pay for a product employees will avoid using)
Engaging User Experience
Learning tends to get branded as "oh, please don't make me do that..." so anything that makes the learner want to use the
product versus being "forced" to use the product will be a draw and differentiator
Current Learning Trend
Less is more; we will drip short messages/learnings often versus making people sit through 3 hours of in class or e-learning
courses
ENTERPRISE BUYER’S SCORECARD
Vendor assessment considerations from large Fortune 1000s buyers
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Are you a startup building in this manager training,
employee engagement, and #futureofteams
space?
We’d love to talk.
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23. THANK YOU
Work-Bench is an enterprise technology VC fund in NYC.
We support early go-to-market enterprise startups with community, workspace, and corporate engagement.
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