Big Data helping companies retain high-performing employees

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          Startup company Evolv has recently acquired $15 million from Vantage Point Capital to help expand its technology that can help pinpoint high-performing employees and keep them satisfied. According to company founder and CEO Max Simkoff, the purpose behind this venture is to "prevent the wrong person ending up in the wrong job". According to this article, Evolv's data science team plans to gather data such as termination history and performance data of each employee and then combine it with certain econometrics, e.g. gas prices and nationwide unemployment rates, as well as employee survey metrics such as social media usage and work history. 

     According to this Glassdoor article, with the current unemployment rate being at the lowest it has been in the past three and half years, employee confidence is stabilizing. Less than half of employees expect a cost of living or pay raise in the next year, one in three employees say they will consider looking for a new job if the economy stays the same or improves, and one in five employees say that they will look for a new job in the next three months. With the implementation of Evolv's technology, businesses will be more likely to identify the employees that would be of greater performing cost for them to lose and offer viable solutions and policies to increase their retention rates.