A Richmond-based, gap-oriented skills inventory platform is shaking up recruiting efforts within organizations through the data visualization of individual employee strengths and weaknesses.
Visual Workforce was born out of an identified gap in the skills tracking, human resources and talent management systems that are commonly used in the workplace. The platform first began as a tool to convert job descriptions into a resulting list of skills to match employees with. It was developed by David Ingram while at Capital TechSearch. The resulting 90% or higher success rate from using the tool made the IT recruiting company quickly recognize the value a tool like their's had.
Ingram decided to create a company just based around this new tool, which is when he brought Bryan Bostic on board as CEO in 2017. Thus, Visual Workforce was born.
“We're in a very tight labor market. So, what's most important? Keep the people that you have and find ways to attract others..."
The company has found its niche in the STEM, IT, architectural engineering, defense contracting and healthcare fields. They have also found their platform to be particularly useful for the world of mergers and acquisitions, when the identification of people’s skills and abilities is crucial to efficient transitions.
“When it comes to business, people really matter,” Bostic said. “It’s all about the people.”
Using data-driven visualizations, the multi-tenant SaaS product allows managers and employees to identify the skills needed to grow between positions and the gaps that exist between these skillsets, specifically supporting internal recruiting.
But the platform is not just focused on creating efficiency. Bostic says a large part of a system such as this one is showing investment in an employee and his or her growth, which ultimately leads to an increase in loyalty and retention.
“We're in a very tight labor market,” Bostic said. “So, what's most important? Keep the people that you have and find ways to attract others; you attract them by showing that you are committed to their future. That's the core of what this product is all about.”
Visual Workforce is currently being used by companies across industries, including ChildFund International, which saw $200,000 in cost savings in direct labor using the results from Visual Workforce’s platform. Other clients include Penn National Gaming, WealthForge and Hollywood Casino, to name a few. As the team has continued to grow its client base, it has realized that the market potential for such a gap-based product is unlimited.
When Bostic was first brought on board, he began to focus on growing the capital necessary to get the company off the ground. The team completed its goal through a private placement within six weeks.
Today, the team includes five on-the-ground members and a development team from DynAgility in Northern Virginia.
“There are efficiencies, there are overlaps and there are gaps,” Bostic said. “If you can fill the gaps efficiently, then you are going to save money. We put this team together around this gap-based product because the marketplace needs it.”
