CEO INTERVIEW RUMAROCKET
New Success Stories - Asia
CEO Interviews - Exclusive for HR Digital Today with market leading HR Tech pioneers - Rumarocket
Kathleen Page, Founder/CEO of Rumarocket
At a recent panel discussion, a prominent HR Director was sharing an example on why HR is often not well regarded from a strategic perspective.
She said this is often highlighted at times like a board meeting. The sales director would arrive with projections on market share and sales. And the finance director would come in with P&L and cash flow statements.
HR? We would arrive with an attendance sheet.
The lack of data in what we do hampers our ability to provide an evidenced-based approach to what we do.
Rumarocket aims to change that by providing analytics tools to help companies make accurate assessments on their human resources.
1. Please share with us briefly what you do.
I’m the founder and CEO of Rumarocket Limited, an artificial intelligence start-up that develops customized people analytics and machine learning tools to help companies make better decisions around recruiting, retaining and incentivizing their talent.
2. What were you doing before this?
I was a university student who was doing research on machine learning applications in predicting human behavior. My research formed the basis of our companies’ tools and solutions.
3. In one sentence, how would you describe what your product does?
Our machine learning algorithms help increase revenue by choosing job applicants that make are 12 - 50% more sales and can predict if an employee is going to leave so leaders can take proactive retention measures, reducing attrition costs.
4. How did the idea for your business come about?
A close friend of mine quit school because she could no longer pay her fees and nobody would hire her because she didn’t have her college degree.
Her story made me realize that there are a lot of talented people who are overlooked by companies every day, just because they don’t have the traditional paper qualifications, or have exactly the traditional ideal background that makes sense to a recruiter.
It got me thinking that recruiters actually used these paper qualifications as a stand-in for actual competency, because 99% of them don’t have the data and the relevant experience inside the company to make an accurate call on who was or was not a good fit for a certain position.
So it got me thinking, what if you could use a company’s data on their successful teams to build a recruitment profile that would help you hire people who you knew were more likely to perform better and stay longer in your company? What if you could develop a systematic and data-driven set of tools to identify people who were likely to leave before they actually left the company?
I answered these questions by developing Rumarocket’s tools and solutions with my team.
5. How does it work?
It’s a cloud-based system that enables companies to align data to quantifiable, business decisions inside the organization, and make predictions about the future with machine learning algorithms. Our system is specialized for handling recruitment, retention and incentivization problems.
Every company is unique, with their own culture, industry and business objectives. Algorithms that rely on public or general data usually don’t yield the same level of results, so we use data from our client to create custom algorithms that generate actionable decisions.
For example, one real estate client wanted to hire salespeople who sold more, we cross examined their sales, employee and hiring data and developed a recruitment algorithm. The algorithm gave recommendations on who to hire and managed to choose sales staff that made 50% more sales , twice as fast.
We also provide end to end data management services from data cleaning to API integration, data analysis and even presentations to upper management, so our clients don’t have to lift a finger.
6. What are the key benefits that your product brings?
People are the lifeblood of an organization. Good people make good companies great, bad people destroy good companies. Tools and solutions like Rumarocket help companies leverage their existing data to better understand the efficiency and effectiveness of their people, and the ecosystem that these people work in. Our tools help companies align the data that they have to the decisions they make about their recruitment, incentives and retention, helping them gain foresight on how they make decisions and saving time and money in the process.
In tangible terms, our clients now use HR strategies such as recruitment to increase their topline (revenue) giving them an edge over their competitors. They have also witnessed significant cost savings from reduced attrition among employees.
7. Who are your closest competitors?
We currently don’t have a direct competitor so the closest would be management consulting firms like McKinsey & Co. and DDI. Using algorithms allow us scale up and give recommendations on an individual employee level, 24/7 regardless of location without having to pay consultants expensive hourly rates.
8. Who is your first customer and how did that happen?
A multinational FMCG company. We were introduced through one of my contacts.
9. What were they using before this, and why did they switch?
They didn’t have an equivalent product in their product line and were using admin staff to crunch their data manually. However these staff were only able to do simple data entry work and not provide actionable analysis and recommendations.
10. How do you price your product?
We do 3-6 month trials for a fixed price for recruitment and retention analytics. A company can pay between $1000-$6,000 USD per month depending on the analytics and algorithms that they choose to avail of.
11. What’s your business focus for this year?
12. What is your favourite failure (and what did you learn from it)?
I failed out of a year in middle school and the teachers in my very expensive private school took my mom aside and asked her to pull me out of school because “I wasn’t smart enough to hack it there.” My mom refused. She told me that when you encounter a challenge and fail, you stick to it and work on it instead of running away. That way, you have an opportunity to change things for the better.
The next year, I was one of the top students in my class. My teacher, who had taught me Math for both years, took me aside on the last day of school and said that never, in her 30 years of teaching, had she ever seen a turnaround like mine and that it made her time as a teacher feel so very fulfilling
She retired the year after.
13. What’s one productivity hack you would recommend to everyone?
Focus on one task at a time.
14. Where can people find out more about your product offerings and you online?
- Born: October 30, 1991
- Marital status: in a relationship
- School: University of the Philippines
- First job: Data Analyst Intern
- Favorite book: The Complete Adventures of Sherlock Holmes, for the systematic way he breaks down problems into simple and straightforward solutions.
- Favorite Film: Blade Runner
- Favorite Music: Blumenlied, Gustav Lange
- Favorite Gadget: My gaming laptop
- Last holiday: What is holiday? Can eat one?