AI-powered HrTech of the Week - Talentware

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HrTech startup: Talentware

1. Can you tell us about yourself and your role at Talentware?

Hello, I am Ismet Balihodzic, Co-founder & CPO of Talentware.

2. When was Talentware founded?

Talentware was founded in 2023.

3. Give us a brief introduction to your company and its mission

Talentware, founded in 2023 by ex-Bain employees, offers an AI-driven SaaS platform for talent management. Talentware automates skill mapping, suggesting personalized career paths and development opportunities to bridge skill gaps and increase retention.

The platform shifts companies from a role-based to a skill-based talent management approach, saving time and resources. It promotes equity and inclusion, enhancing diversity in recruitment and helping achieve ESG and DEI goals by tracking key metrics.

4. What is your company's North Star metric?

At Talentware, we count on 2 types of North Star metrics.

• User engagement: This metric tracks how actively our users are engaging with the platform. This includes the number of users who log in regularly, the frequency and duration of their interactions, and their level of engagement with various platform’s features. High user engagement indicates that our platform is valuable and integral to our clients’ talent management processes.
• Time on the platform: This metric measures the average time users spend on our platform during each session. It reflects how much time users invest in exploring and utilizing our features. A longer time on the platform suggests that users find our tools and resources helpful in managing their talent needs, from skill mapping to career pathing and development planning.
  

5. What are the key dates in Talentware’s journey?

• Founding date: July 10, 2023.
• Design partner co-creation: Sept. 4, 2023.
• Fundraising publications: March 12, 2024.
• Platform demo day: July 2, 2024

6. How did your company get started, and what inspired its creation?

We created Talentware inspired by the belief that individuals perform their best when placed in the right company role. However, in today’s world, career planning and succession planning are often influenced by biases and lack a data-driven, meritocratic approach.

We were inspired to create Talentware to address these issues and promote a fairer, more efficient talent management system.

We observed that many employees find better career growth opportunities by browsing LinkedIn rather than seeking advancement within their current organizations.

This highlighted the need for a platform that could provide personalized, data-driven career planning and development opportunities within companies. By leveraging AI, we aim to help organizations place the right talent in the right roles, ultimately driving both individual and company success.

7. What HR solutions does your company offer, and how do you AI-power these solutions?

Talentware provides a skill-based platform consisting of four key modules, each addressing specific needs:

1. Skill & Analytics: This module aids companies in skill mapping, assessment, and visualization.
2. Planning & Mobility: It includes features that enhance internal mobility for HR and employees, such as skill-based career planning, succession planning, and AI-driven job description creation.
3. Development: This module identifies skill gaps for each employee and helps HR and employees create personalized development plans.
4. Growth Review: It offers tools for 360-degree feedback, goal setting, and summarizing employee performance.

Each module ensures comprehensive support for both HR and employees in various aspects of talent management.

8. What is your strategic approach to AI technology?

Our strategic approach to AI technology involves developing custom proprietary machine learning models and integrating external AI solutions.

This dual approach allows us to tailor our platform to meet specific client needs while leveraging the best available AI technologies.

9. What were the biggest challenges in integrating AI into your products, and how did you address them?

One of the biggest challenges was determining the potential impact of each AI feature, which influenced our decision on whether to buy or build the technology.

We addressed this by conducting thorough impact assessments for each feature, evaluating the benefits and feasibility.

This helped us make informed decisions on when to develop custom solutions and when to integrate existing AI technologies.

10. How does your company ensure its AI systems are unbiased and ethical?

We have multiple solutions in place to ensure our AI systems are unbiased and ethical. For instance, our AI works only with encrypted employee data to prevent any biases.

Additionally, we regularly audit our algorithms for fairness and accuracy, and we implement rigorous testing and validation processes to ensure ethical standards are met.

11. What feedback have you received from clients about your solution(s), and how has it shaped your product going forward?

Our clients have praised the accuracy of our skills mapping and the user-friendly nature of our platform.

Their positive feedback has reinforced our commitment to maintaining precision in skill assessments and improving the user experience.

As a result, we continue to refine these aspects to ensure our solution remains intuitive and effective for all users.

12. What is your vision for the future of HR tech and AI? and what are your company's upcoming goals?

Our vision for HrTech and AI is that they should be safe, unbiased, and easy to implement. We are pleased that Talentware successfully meets these key objectives.

Moving forward, our goals include expanding our platform's capabilities, forging new partnerships, and continuing to innovate in the field of AI-driven talent management.

13. What key milestones has your company achieved so far? (e.g., funding rounds, partnerships, customer acquisition)

• Pre-seed funding round of almost €1M in March 2024.
• Launch of the Talentware Suite (June 2024):
  • In June 2024, we successfully launched the comprehensive Talentware Suite, which includes the following modules:
    • Skill & Analytics: This module provides in-depth insights into employees' skills and competencies, enabling data-driven talent management decisions.
    • Mobility & Planning: This module facilitates strategic workforce planning and mobility, ensuring the right people are in the right roles at the right time.
    • Learning & Development: This module enhances employee growth through personalized learning paths and targeted development programs.
• Upcoming Launch of the "Growth Review" Module (End of 2024):
  • Building on the success of our initial launch, we are excited to introduce the "Growth Review" module by the end of 2024. This module will focus on comprehensive performance reviews and growth planning, further strengthening our suite of talent management tools.

14. Can you share a success story or case study that highlights the impact of your technology on a client?

Client 1: AI Skill Mapping and Succession Planning

Challenge: The client needed help in identifying and nurturing high-potential employees for leadership roles. Their existing succession planning was subjective and needed a structured approach, leading to consistent results.

Solution: Talentware implemented its AI-driven skill mapping technology, which provided a comprehensive analysis of employees' skills and competencies. Using the Talentware Score, we enabled the client to objectively assess their workforce and identify potential leaders based on merit and data-driven insights.

Impact: As a result, the client established a meritocratic succession planning process. High-potential employees were identified and groomed for leadership roles, leading to a more motivated workforce and a significant increase in leadership quality. The client reported a 30% improvement in leadership readiness and a noticeable boost in employee morale and engagement.

Client 2: Prioritizing Training Activities Based on Skill Gaps

Challenge: Another client struggled with effectively prioritizing training activities for their employees. The existing training programs were generic and did not address the specific skill gaps of individual employees, resulting in suboptimal training outcomes.

Solution: Talentware introduced its skill-tagging technology to analyze and tag the client's training material. By cross-referencing the skill tags with the employees' current skill sets, Talentware identified the most relevant training programs for each employee based on their unique gaps.

Impact: This personalized approach to training significantly improved the effectiveness of the client's training initiatives. Employees received targeted training that directly addressed their skill deficiencies, leading to quicker skill acquisition and enhanced job performance. The client observed a 40% increase in training efficiency and a marked improvement in employee proficiency in critical areas.

15. Share with us a preview of your product:

Here is a preview of Talentware dashboard.

16. Can you show us your product demo?

That's it for now! Follow Talentware on social media for updates on their latest milestones and innovations in talent management.

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