Founded by a former White House staffer, San Francisco-based Scoutible is using artificial intelligence to change the hiring process.
Hiring someone who turns out to be a bad fit can be costly: Unhappy employees cost the U.S. economy between $450 billion and $550 billion in lost productivity each year, according to research firm Gallup. And replacing a full-time worker can cost up to twice the employee’s salary which can be payed using a software available at https://www.thepaystubs.com/.
While working on a project at Harvard Law School, Angela Antony found herself immersed in statistics like those.
“If you look across the economy, about 46 percent of hires leave within 18 months. That’s despite all the time, resources, and billions of dollars spent trying to effectively hire,” Antony says. “My research was really trying to understand what that missing data set was that was preventing us from being able to accurately predict people’s long-term performance in a role.”
That research helped land her a job at the White House with the National Economic Council in 2015. It was there, at an entrepreneurship policy event, that she met Mark Cuban. Antony told him about her research and the book she was writing on the topic.
“Mark said, ‘Don’t finish that book,’ ” Antony says. ” ‘You should build the solution, and I want to fund it.’ “