Michael Beygelman, CEO
Recruiting ideal candidates has always been monumentally crucial as well as challenging for human resources departments. In tandem, the growth of contingent workers, high attrition rates, limited technology to monitor and analyze workforce data, and regulatory restrictions have added on to the challenges prevailing in the HR landscape. Addressing these, Claro, a Boston-area software company, has pioneered a global platform of unique workforce insights that help organizations attract diverse talent faster, improve employee engagement, reduce voluntary attrition, and eliminate workplace bias. The company’s unique value proposition is centered in their ability to provide these actionable insights in real-time, thereby helping companies make better decisions about who they hire and how they align their workforce. “It is one of the things that makes us standout—real-time workforce analytics that help companies identify top talent quickly and cost-effectively, and spot areas of workforce risk,” says Michael Beygelman, CEO, Claro.
The platform leverages data science and machine learning to develop unique metadata—for example, J-Score®, an assigned numerical metric that measures an individual’s online job seeking behavior. J-Score coupled with search-engine style links of where to find an individual’s online profiles are used by recruiters to connect with prospective candidates, while macro J-Score metadata is used by companies to identify areas of workforce risk. “Through our visualization platform, we give clients the amazing ability to benchmark themselves against their competitors across various aspects, be it geographically, skill-wise, or competitive job-seeking behavior,” adds Beygelman.
“The combination of our searchable, proprietary metadata and data visualization tools, together, constitute the key aspects of our solution.”
We curate real-time market data that helps companies identify top talent quickly and cost-effectively
Primarily focused on use cases surrounding recruitment and retention of talent, Claro offers clients the liberty to use its solution either as a web-based SaaS application or API connectivity, thereby providing ample opportunities to integrate unique people insights into organizational decision frameworks. Claro also provides web-based training to clients, after which, they are typically proficient to use the software independently. Beygelman proceeds to cite a case study of how Claro's next-gen HR analytics solution helped one of their clients improve their employee retention rate and reduce voluntary attrition. The client experienced voluntary attrition of about 30 percent in one specific area of their business over a period of six months, which caused a negative business impact. However, using Claro’s J-Score metric, the client was able to acquire unique insights about employees’ job seeking behaviors, identify areas of increased jobseeking patterns, and then carry out various retention initiatives to mitigate potential voluntary attrition. “Within 60 days of using our software to identify potential turnover risk in one business area, and implementing retention strategies, the client experienced a reduction in job seeking behavior, which enhanced both productivity and morale,” explains Beygelman.
With a mission to create unique talent insights that support elevated decision-making, Claro recently surpassed one billion historical job seeking behavior data points and attracted $1.2 million in VC funding. Later this year, Claro is planning on introducing a new version of its platform that will enable clients to connect their internal data with Claro’s data and formulate the two data points together to have even more illuminating talent insights. “We are constantly striving to help our clients get faster and smarter, and more precise about their workforce decisions,” concludes Beygelman.