HackerNoon: What is your company in 2–5 words?
Tyler Hochman: AI Workforce Productivity Analytics
Why is now the time for your company to exist?
AI allows workforce algorithmic scaling at a cost that is finally competitive and reasonable for businesses.
What do you love about your team, and why are you the ones to solve this problem?
Our company (FORE Enterprise) blends experienced professionals with young and hungry tech talent. Innovative Stanford-educated engineers work alongside professors from Stanford, Wharton, and Kellogg to find the most effective ways to improve employee retention at companies.
If you weren’t building your startup, what would you be doing?
I would be building another startup.
At the moment, how do you measure success? What are your metrics?
We measure our success by the amount of workforce retention we create, the dollars we save businesses and the productivity we increase. Our clients’ success is our success.
In a few sentences, what do you offer to whom?
We offer B2B workforce analytics to operation departments and mergers and acquisitions departments. We use analytics from advanced AI models to identify key trends and issues that lead to employee turnover and then provide advice from an expert advisory council on how to intervene. We’ve developed a range of creative intervention strategies that allow our clients to take steps to combat turnover with solutions tailored to their specific companies and employees. We also factor predicted employee turnover into company valuations.
What’s most exciting about your traction to date?
We are excited about the amount of revenue we’ve affected for clients. We have impacted billion-dollar deals as well as saved millions for our clients in operational workforce costs.
Where do you think your growth will be next year?
By next year, our product will be able to seamlessly generate analytics based on data from 100,000 publicly available companies within a two-day timespan.
Tell us about your first paying customer and revenue expectations over the next year.
Our first paying customer was a major American manufacturer, and we helped them significantly decrease the cost associated with turnover, as well as evaluate the effectiveness of the interventions for their employees. By the end of this year, we’re targeting a million and a half in revenue and by the end of next year, we hope to be at $10 to 20 million in revenue.
What’s your biggest threat?
Corporate ignorance. Most companies don’t understand the true cost of turnover, and even when they do, they often waste millions of dollars on ineffective interventions for employees that don’t help them retain their top talent. Many don’t know how to analyze the effectiveness of their programs and improve them to save money. We hope to show them the importance of this analysis.