Elvee, the world’s first AI platform to solve employee attrition, announced its emergence from stealth following a pivot along with its analysis based on 100,000 employee data points.
Costs for replacing a single employee have climbed to sky-high levels, often half to four times their annual salary, while high-performing employees promoted to management roles often lack support for that transition while being expected to replicate their same great performance. The result is a costly revolving door and no tools for retaining top talent other than gut feelings. Even when action is taken to retain employees, it is reactive at best, and often too late.
Elvee’s unique AI solution monitors 25,000 data points related to employees and achieves a nearly 90% accuracy rate in identifying workplace issues and successfully resolving issues that lead to attrition. The platform provides managers with instant visibility, actionable insights, and intelligent heatmaps needed to elevate employee motivation, performance, and proficiency. In its initial deployments, Elvee cut attrition by 62% and saved customers $1.1M per 1,000 call center agents, with an even higher return for more highly skilled employees.
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Beyond the substantial impact Elvee’s platform has produced during its initial deployments, the real magic is its compounding effect. Elvee enables organizations to enhance Employee Lifetime Value (ELTV), drive Customer Lifetime Value (CLV), and achieve sustainable success through better managers, better teams, and better business outcomes. Not only are companies saving money with the platform, but they’re helping to build better brands and improving performance month in and month out, turning a large impact into a complete game changer.
“Companies are leaving money on the table by not taking care of their employee attrition problem, it’s as simple as that,” said Elvee’s CEO, Raz Dar. “Most contact centers are losing over $1M per year for every 1,000 agents, and they have thousands of employees. Our solution is the first to address this issue using AI at scale, and our customers are seeing concrete results in recapturing revenue, retaining top performers, and gaining a visible and distinct competitive advantage.”
“Using our operational data, Elvee AI prediction engine was able to accurately identify agents at risk of attrition providing our supervisors sufficient time to course correct and retain those top performing employees. We’ve decided to expand Elvee’s implementation because of the successful POC,” said Galina Petrenko VP, Data, Analytics and AI at Qualfon.
Source: PRNewswire
