A new innovative platform, OpenElevator, is making waves in the corporate world by addressing a persistent challenge: employee turnover. Founded by Minal Joshi Jaeckli, a prominent figure in the business landscape, OpenElevator is touted as the world’s first platform designed to provide a permanent solution to employee retention issues.
Utilising a proprietary algorithm, OpenElevator identifies employees at high risk of quitting and offers tailored strategies to enhance their engagement and commitment to the company. Minal Joshi Jaeckli, the founder, highlighted the platform’s effectiveness, stating, “We quickly identify employees who are at high risk of quitting and provide targeted solutions to ensure they stay with you long term.”
The platform’s reach extends from small startups to multinational Fortune 500 companies, demonstrating its versatility in tackling employee turnover across diverse organisational structures. According to Minal, OpenElevator encapsulates over 25 years of her professional experience into a streamlined tool that delivers knowledge-based strategies aimed at significantly increasing employee engagement and retention.
The impact of OpenElevator is quantifiable. Companies that have integrated the platform into their operations report substantial cost savings. On average, clients experience savings of approximately £17 million annually for every 1,000 employees assessed. This financial relief stems from reduced turnover rates; data shows an average turnover rate of 20% among employees, costing companies about £150,000 per employee. For a workforce of 1,000, the total annual turnover cost can reach a staggering £30 million.
However, after implementing OpenElevator’s retention strategies, businesses typically see a remarkable 57% decrease in turnover. This means that companies not only save money but also benefit from a more stable workforce, leading to increased productivity and morale.
Minal Joshi Jaeckli is not only an entrepreneur but also a sought-after speaker who passionately shares her insights on employee engagement. Her journey began as a chemist in the pharmaceutical industry, transitioning into corporate roles that included project management in Silicon Valley and investor relations in Zurich. Minal’s diverse career has equipped her with the knowledge and skills necessary to understand the intricacies of employee relationships in various organisational settings.
OpenElevator’s methodology is rooted in the belief that fostering the right connections between employees and employers is vital for long-term success. The platform facilitates the formation of effective and harmonious teams, ultimately driving business performance and employee satisfaction.
As the job market continues to evolve, businesses face the ongoing challenge of retaining talent in a competitive landscape. OpenElevator stands out as a pioneering solution, helping organisations not only reduce turnover but also cultivate a thriving workplace culture.
With a unique combination of data-driven insights and practical solutions, OpenElevator is set to change the way companies approach employee retention, ensuring that businesses can keep their most valuable asset— their people—engaged and committed to their success.