Image credit: Job Street
SINGAPORE, Aug. 1, 2023 /PRNewswire/ -- Small and Medium Enterprise (SMEs) constitute up to 99% of registered businesses in Singapore and hire 70% of the workforce[1]. However, in what Saindex terms the SME Dilemma - while SMEs are able to hire the majority of the workforce, the reality is that top talents are naturally attracted to Multinational Corporations (MNCs) or "recognizable brand names" as their preferred employers, leading to less talents applying for SME jobs, even though they may be better fit for the SME.
Saindex revolutionizes hiring decisions and enhances workforces through its groundbreaking approach using practical intelligence and people analytics. Leveraging data from a database of over 65,000, the tool, adapted from research at Sweden's national defence research institute, assessing respondents' state-of-mind, readiness for work, and suitability across industries.
Saindex currently runs 2 programs based on People Analytics: Group Flow (for optimization of current employees and teams with the company's vision) and StreetSmart Hiring (for recruitment).
People Analytics On GroupFlow – Optimizing and Aligning Individuals and Teams for Better Business
GroupFlow, a strategic human capital measurement tool, empowers small and medium-sized businesses to outperform their largest competitors. GroupFlow gives decision makers insights into what makes team "flow" - knowledge that can guide business owners/ management with making decisions on expansion, retention, promotions, succession, employee well-being, and more. Aligning employees, teams, and management with the company's vision, GroupFlow derives insights from well-being, environment, personal development, and vision buy-in assessments. Decision-makers can shape company culture, foster effective teambuilding, and promote optimal business performance.
By examining key aspects like aspirations, readiness, mindsets, and life situations, GroupFlow provides eye-opening insights and actionable approaches, resulting in innovative, harmonious, and productive teams. Increased motivation, purposeful communication, and a balanced environment further enhance business flow. GroupFlow's insights identify potential obstacles, such as quiet quitters and burnt-out individuals, enabling SMEs to stand out and outshine larger competitors. Investing in GroupFlow drives innovation, productivity, and profits, while boosting employee morale and growth – a promising return on investment.
Saindex, going beyond talent identification, supports employee engagement and retention. With GroupFlow, businesses revolutionize team dynamics, cultivating a highly engaged and talented workforce, where every member feels valued, motivated, and empowered.
People Analytics on StreetSmart Hiring - A Contextual Intelligence (CI) tool for Recruiting Right
Saindex purports to overturn the norm for SME hiring with their unique and proprietary talent identification tool, called StreetSmart Hiring, which incorporates Contextual Intelligence (CI). Recruitment is an ongoing cost for businesses that may cost as much as 3 to 4 times a person's salary[2]. This hidden cost, once recognized, puts immense pressure on companies, particularly time and budget-strapped SMEs, to address recruitment challenges and ensure they hire the right candidates from the start. Making the wrong hire can lead to even higher costs for the company, in addition to the expenses incurred during the hiring process, especially if the bad hire is going to cost the company even more on top of the cost of searching for him in the first place[3].
Saindex's StreetSmart Hiring helps companies make confident hiring decisions by assessing each candidate's Practical Intelligence. The unique reverse pitch function allows companies to present themselves to candidates, who are then scored based on Practical Intelligence Benchmarks. The open-ended questionnaire delves into candidates' personal lives, work, and future plans, providing valuable insights without suggesting right answers. Saindex then evaluates each candidate's readiness and overall outlook to determine their fit for the role, helping companies avoid soft quitting and hiring mismatches.
Saindex's name is derived from "Situation Awareness Index", a slice of Contextual Intelligence, which refers to how a person makes sense, adapts, and acts in a given situation or context. In business terms, this is known as Practical Intelligence, and what the tool aims to uncover in every hire.
Saindex customized GroupFlow and StreetSmart Hiring for Asia, considering Asians' reticence and language diversity[4]. The programs feature open expression methods (speech, text, visual inspirations) and multi-language support to capture accurate responses from all employees.
"People are at the heart of every business and there is a company for every talent, every person. Which is why it is important to find talent that precisely matches what you need at each stage of your company's growth. Saindex is the only such tool in the world that is able to focus on how an individual make sense of the situation, current mental state and how it affects their readiness to perform at their level best for your organization. With the rightly optimised teams, cohesive teams could then achieve flow state to deliver peak performance," says Ruby Chia, Founder and Principal of Saindex. "Saindex will transform the future of talent acquisition."
Source: https://finance.yahoo.com/news/saindex-key-solving-sme-dilemma-082200060.html