Organizations use Leader Theory's machine learning software to help identify the right leaders for the correct company culture as quickly as possible
LOS ANGELES, CA / ACCESSWIRE / March 7, 2019 / According to recent studies, the senior leadership turnover rate in nearly every industry is at an all-time high, rising to 19.3% in the last year. Losing top talent isn't just a problem from a productivity perspective - it's also incredibly costly. One company estimated that it costs between 90% and 200% of a departing executive's salary to effectively replace them, once all costs associated with a talent search are considered, per Leader Theory's research.
In an effort to better meet their needs, organizations continue to use Leader Theory's machine learning software to help better identify the right leaders for the right company culture in the fastest ways possible. To learn more about Leader Theory and its platform, please visit https://www.leadertheory.com/employer/.
At its core, Leader Theory's machine learning is a subset of talent data analysis that allows analytical model building. When that data has to do with talent analytics and culture aspects of various companies, it can not only help companies do their jobs more effectively - it can also help candidates find more relevant companies as well.
SVP of Leadership at Leader Theory Jesse Welch indicated that while machine learning itself was sophisticated and complex, the reason it works so well in this particular setting could not be more straightforward. "Machine learning, combined with complex talent data, is helping connect leaders with company cultures that best fit their style," said Welch.
With the right data, machine learning can be used to optimize nearly all aspects of the talent analytics. Not only are companies using it to improve the effectiveness of their leadership hires, but it also helps with sourcing, scheduling, interviewing, assessing and leadership coaching, too.
When asked about Leader Theory's own unique way of evaluating the right leaders with the right companies, Jesse Welch said that "companies want more insights about the business leaders they are hiring. Our machine learning software was built for that purpose, offering to connect those organizations in an on-demand way through our video platform."
This is critical because finding an ideal business leader is about more than just whether or not someone is qualified for a position in a literal way. When leaders are more effectively dialed into the culture of a company, they're in a better position to exercise their strengths. Leader Theory research shows this makes them about 8% more productive on average and six times more likely to have team engagement. Companies with highly engaged employees have average three year revenue growth rates that are about 2.3 times higher than those who don't.
These machine learning systems far outweigh the initial investment to begin with and companies continue to use Leader Theory's talent analytics for their companies. All told, using machine learning for leadership analytics is where Leader Theory leads the way in talent software.
About Leader Theory:
Leader Theory was founded in 2012 and throughout the years has built an extensive leadership intelligence platform. Leader Theory believes leadership analytics are a key component for the success of the future of innovation and progress of companies with strong cultures. By combining leadership talent intelligence and big data analysis, Leader Theory is leading the way for the next generation of talent intelligence evolution. More at: www.leadertheory.com.
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SOURCE: Leader Theory
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