Heightened investor expectations for efficient growth have collided with talent shortages,disengaged employees,and the lowest productivity growth in half a century
Visier delivers AI solutions to help manage through and continuously adapt to a forever changed world of work
VANCOUVER,BC,Sept. 3,2024 -- Visiertoday announced its enhanced corporate missionto harness the power of AI to give companies a "Workforce AI Edge." This comes at a time of growing global economic challenges and heightened investor expectations for efficient growth,colliding with stark workforce realities that are fundamentally at odds with this goal. AI has the very real potential to become a breakthrough fix,but it will also introduce new challenges as companies struggle to evolve their workforces to embrace AI.
Generative AI has arrived at the very moment when leaders worldwide are facing a perfect storm of challenges,converging to create a Business Performance Erosion Crisis:
Rising expectations for profitable growth–as a growth-at all-costs mindset gives way to heightened investor focus on efficient,sustainable growth.
Stagnant productivity–evident in a marked rise in wages without an attendant rise in output,which by some measures,represents the slowest employee productivity growth in 44 years.
Declining employee engagement–after a decade of workplace strife,according to Gallup,worker engagement hit an 11-year low in the first quarter of 2024 with 70% of employees admitting to being less than fully engaged.
Widespread talent scarcity–structural shifts in population growth worldwide have created a lasting talent and skills gap in the labor market that will be felt for generations to come.
"This is nothing short of a survival issue for companies of all sizes," said Ryan Wong,co-founder and CEO of Visier. "CEOs worldwide are asking themselves how they can adapt their organization to solve this crisis. For most companies,it will mean embracing AI to unlock stalled productivity growth and to fill talent gaps,but doing so will mean navigating through the greatest workforce disruption in over 100 years. For that,Visier will help illuminate the path forward with insights and guidance that put them in control of this massive change and every disruption that follows."
Visier gives organizations a Workforce AI Edge by unifying,illuminating and activating people and work data across an organization to better understand employees,the work they do,and the outcomes this work yields for the business. Putting this insight in the hands of managers and executives helps them answer questions like:
Which employees are most and least productive and why?
What work is and isn't impacting business performance?
What roles and activities can and should be automated with AI?
How should we pay people to improve fairness,equity,as well as business impact?
What are the right pathways to create career progression,longevity,and impact for the business?
"Vee," Visier's award-winning generative AI digital assistant,safely and securely answers these questions and many thousands of other questions,accurately,in real-time,and in the flow of their work.
Visier's Real-Time People Data Platform
Visier helps organizations achieve a Workforce AI Edge with a powerful set of AI-ready assets and capabilities,including:
AI:Always-ready insights delivered by self-serve genAI,analytics and reporting,purpose-built to ensure accurate and secure insights scaled across an organization.
Data:Critical people questions answered through pre-built content,metrics,calculations and more. Benchmarks from tens of millions of aggregated and anonymized employee records.
Analytics:Fast and performant consolidation of your people and work data into an always-ready data layer.
Security:Peace of mind with centralized,pre-built security,compliance and governance models.
Together,these capabilities represent the industry's first Real-Time People Data Platform,which can be used as a turnkey,fully integrated data management,analytics and genAI stack,or as a powerful set of extensible platform services that seamlessly interoperate with any data fabric,reporting infrastructure,and technology ecosystem.
AI is the single biggest disruptor to work and companies are forced to adapt their workforce and skills,adapt their technology,and even adapt their operating models. But both today's companies,and their existing HR tech stacks,weren't built for this pace of change.
"Visier is most powerful and impactful for our customers during times of change," said Adam Binnie,chief innovation officer,Visier. "Whether it's a global pandemic,a resignation wave,new regulations or ordinary mergers and acquisitions,companies need real-time insights they can trust to light the way as they guide their teams and orgs through periods of intense change. AI promises to be the most significant workforce change event in our lifetimes. Companies with Visier will have a Workforce AI Edge,weathering the storm much more successfully than their peers."
"Open for Builders" Workforce AI Edge Ecosystem
Solving the Business Performance Erosion Crisis on a global scale will require the collective efforts of a community of innovators. That is why Visier's Workforce AI Edge mission relies on the creativity and collective wisdom of customers and partners to build the last-mile bridge between Visier's Real-Time People Data Platform and the specific business challenges unique to every industry.
In April,Visier announced "Open for Builders," a companywide program to accelerate innovation on Visier's open platform. This initiative has gained substantial momentum as customers and partners actively invest in unifying,illuminating and activating people and work data inside their software applications,analytics solutions,and business workflows to drive productivity and business results.
Visier Customer Innovation–Innovative Visier customers are already connecting the dots between people,work and outcomes to create a Workforce AI Edge for their organizations. "We're linking business outcomes to what we need to do," said Jaco van Vuuren,Human Capital COO at Standard Bank,Africa's largest financial services company. "They're not just beautiful insights…we're making sure we link everything we do to revenue outcome or cost containment. The insight we get through [Visier] gives you a business outcome. And without that,you're just reporting on what happened in the last month."
Visier Embedded Partner Innovation–Embedded partners use Visier's Real-Time People Data Platform to accelerate their reporting,analytics and genAI product roadmaps,delivering powerful and differentiated capabilities to their end customers to solve workforce challenges across industries. Leading people and worktech SaaS companies like Paycor and Augeo use Visier to power the analytics and AI capabilities inside their commercial products,representing over 60,000 end user organizations,and more than two million employees worldwide.
"Every company is now a data and genAI company,but few have the technology,talent,budget,customers,strategy and speed to get it right," said Zack Johnson,general manager,Embedded at Visier. "Unlike past technology disruptions,there isn't a margin for error with AI. For Visier,giving organizations a Workforce AI Edge means,in addition to providing the data platform for large enterprise companies,also partnering with leading software providers to deliver secure,compliant and highly differentiated genAI and analytics solutions,empowering companies of all sizes to stay agile and adaptive in this changing landscape."
Visier Delivery Partner Innovation–Dozens of boutique and global consultancies and integrators are certified to implement and build solutions on Visier's open platform,including Deloitte,which has a fully staffed Visier practice focused on giving companies a Workforce AI Edge. "The AI revolution comes at a time when a convergence of global workforce challenges are forcing companies to rethink basic assumptions about how work gets done," said Marc Solow,managing director and workforce analytics practice leader at Deloitte Consulting LLP*. "AI has the potential to be both a breakthrough solution to these challenges,as well as another massive challenge unto itself. Through our strategic alliance,Deloitte and Visier give companies a Workforce AI Edge with the AI-driven insights and guidance they need to unlock new sources of growth and advantage,and to continuously adapt and evolve their workforce through an AI transformation and beyond in an increasingly volatile world."
Join Visier and Deloitte Consulting LLP for an upcoming webinar: Adapting Work For The AI Era: How To Give Your Workforce an AI Edge on Tuesday,Oct. 8,from 9am to 10am PT / 12pm to 1pm ET.
Learn more about how Visier gives organizations a Workforce AI Edge at visier.com/workforce-ai-edge.
About Visier
Visier gives organizations a Workforce AI Edge: a set of AI-powered capabilities that help leaders understand the relationship between people and work,elevate the productivity of their employees,and win by adapting to change faster. The company is the global leader in AI-powered people analytics,workforce planning,and compensation allocation. All Visier technology is underpinned by its Real-time People Data Platform,which uses AI to unlock the business-transforming potential of people data,work data,and the fusion of both. Founded in 2010 by the pioneers of business intelligence,Visier has over 60,000 customers in 75 countries—including enterprises like BASF,Panasonic,Experian,Amgen,eBay,Ford Motor Company,and more. To learn more about Visier,visit www.visier.com.
*Please see deloitte.com/us/about for a detailed description of the company's legal structure.
These converging pressures mean that advantages a business may have had in the past are quickly fading. CEOs and other senior leaders need to take bold action to shift the lost momentum back in their favor.