In this episode of SaaS Story in the Making, host Matt Wolach and Mikaël Wornoo, COO and Co-Founder of TechWolf, talk about growing a company using the right actions, especially through gathering needed data on employees’ skills. Wornoo shared valuable lessons from his experience in the early days of their company and his expertise in data and AI technology which is a great help for organizations’ Human Resources.
Podcast: SaaS-Story in the Making
Episode: Episode No 211, “Boost Your Company’s Growth with Skills Intelligence”
Host: Matt Wolach, a B2B SaaS sales coach, Entrepreneur, and Investor
Guest: Mikaël Wornoo, COO and Co-Founder of TechWolf.
TOP TIPS FROM THIS EPISODE
Leverage Skill Data
Skill data defines employees’ skill sets. It can be a snapshot of their experience details, proficiency levels, assessment results, etc. Data can be measured and used in different ways, but more importantly, to make unbiased decisions regarding where the company should invest more. Usually, it can be determined by an existing internal HR system or Artificial Intelligence (AI).
TechWolf is a software company designed to use AI to assess employee skills based on unstructured data. When it comes to creating your company strategy, it can help in unbiased assessments on whether or not a set of skills is still needed or if it needs further development and support. It can also help with decision-making in needing to hire new talent that the company needs.
Identifying this kind of data is most beneficial when used. Gathered information needs to be assessed using the right tools to ensure certainty in data collection. And should be treated fairly to optimize its benefits.
Allow Strategic Planning for Managers
Identifying which skills to invest in can be hard to define. Most companies guess and see if such action works. However, it can be too risky for the team regarding time and resources.
Wornoo emphasized the need for data to pinpoint which skill a company needs. An example is when it is going through transition, and specific skills are required to accommodate growth. Skill data can be leveraged to properly allocate resources and reach the desired development of the company. In the long term, given data helps leaders plan their subsequent actions. It allows them to build an efficient strategy where resources can be optimized.
Encourage Employee Development
By its definition, skill data appear more helpful to the management. As they make significant decisions, it is essential to have data that can be measured to justify decision-making. But it also has benefits on the end of the employees in various areas.
The top advantage of using an AI-generated technology is enabling personalization at scale. Wornoo explained that HR departments do not have all the manpower to personalize their approach to every employee, especially in a large organization. With this kind of system, it will be easier to identify the unique needs of each team member and attend to them the right way.
Another is “bringing visibility in the organization on people’s skills. This allows them to have more opportunities in work and development to help them become better versions of themselves. And lastly, it is to raise more equity in succession planning. This shows that the system is not only geared to solve immediate concerns in talent, but also allows preparedness for future concerns and gives long-term solutions to both employees and management.
Continue to Expand Your Horizons
Company growth covers many aspects that need to be done right. Proper data collection and interpretation may help with the internal development of operations. But before establishing a system that worked, there were crucial first steps that companies should still apply at whatever stage they may be.
Wornoo shared that at the beginning of TechnoWolf, many software companies in their field were kept research-centric because of the small market. They strived to reach for a larger market and kept iterating feedback to move away from that. He calls it “the daily grind,” which was horrible, but with the right people on the team, it was “horrible in a satisfying sense.” To stand out, they opted to establish a standard combining a local and global approach. As a SaaS company, it is essential to expand your international reach to show your expertise, flexibility, and adaptiveness in the field in every situation,
Wornoo also emphasized the need for constant hunger for development and curiosity. With this, constant research is needed through coaches, mentors, and resource materials are essential. He said, “the job you did two months ago, isn’t the same job.” Your experiences and learnings throughout your journey help you to become better and be able to make a huge impact on your company. And to make this lasting effect for the betterment of your company give time to learning new ways.
Every company’s journey toward growth is different– some may be faster than others. It also looks a lot easier on the outside, but there are lots of challenges to face internally. It is a unique journey that will mold the company into what it should become. No matter the struggle, small wins should always be celebrated. Soon, it will fuel you to want more accomplishments.
[06:06] “The daily grind, right especially in the beginning of those first few years. They’re typically horrible. A good co-founding team can make it less horrible; in a satisfying sense.”
[07:49] “Instead of studying the product that people are using, let’s study what they’re trying to do with the product; let’s study the process.”
[14:32] “As they use more data. They can become more strategic.”
[16:02] “If you start a company, you don’t know what works, what doesn’t work. So keeping that curiosity was key for them. We really still tried to have that continuous curiosity.”
[09:54] “Having those little successes and those little celebrations really kind of fueled us to want more and want more of those celebrations.”
To learn more about Mikaël Wornoo and TechWolf, visit: https://techwolf.ai/
You can also find Mikaël Wornoo on LinkedIn at: https://www.linkedin.com/in/mikaelwornoo/
For more about how host Matt Wolach helps software companies achieve maximum growth, visit https://mattwolach.com/.