WithYouWithMe launches Potential platform to help companies recruit, reskill and outplace employees for a fraction of the cost.

Sydney, Friday 1 March 2019: Analysis from Australian HR start-up WithYouWithMe has found that companies are spending in excess of 130 per cent more to retrench and rehire new employees rather than reskilling their current workforce, costing the Australian economy up to $14 billion per year.

Research shows that each year roughly 330,000 jobs across Australia are lost involuntarily through redundancies and office closures.[1] Reviewing average costs for major Australian companies across redundancy payments, hiring costs, new wages and lost productivity, WithYouWithMe has found that companies are spending significantly more to attract new talent for hard to fill roles, rather than reskilling currently underutilised employees.

With predictions that up to 50 per cent of current jobs could disappear over the next 15 years,[2] an effective system of reskilling and redeployment is required across all industries.

WithYouWithMe, last year named by Deloitte as one of Australia’s fastest growing start-ups, today released this analysis as the company launches WYWM Potential, a new software-as-a-service platform which is set to change the way companies recruit, reskill and outplace employees.

Tom Larter, WithYouWithMe ANZ CEO said that companies need to shift their attitudes towards talent management to keep pace with the changes to the job market.

“Every company I speak with knows that automation is quickly changing the workforce, but not many HR leaders have the tools to deal with the shake-up. Companies need to change the way they view talent and focus on an individual’s ability, rather than their years of experience.”

“Potential gives these leaders the opportunity to not only uncover hidden gems within their workforce, but also train them to be job ready for new tech careers,” Larter said.

WYWM Potential is a new platform which allows companies to easily find the right talent for the right job. The platform can save companies up to 90 per cent of current recruitment costs, as well as providing a robust outplacement platform as workforces continue to change.

WYWM Potential allows companies to test employees to help identify their best career pathways and matches individuals to hard-to-fill roles across the organisation. The platform offers upskill training in areas with the highest skills gap across the economy, including Cyber Security, Data Analytics and Robotics. These skills can then be redeployed across an organisation or utilised as an effective outplacement program.

Some of Australia’s largest companies have been using Potential in Beta phase for a number of months to uncover talent across their organisation. One large Australian company has used the platform to help augment its diversity program, identifying a number of individuals in its Indigenous program, with a number matched to careers in Cyber and are now undergoing an upskill pathway to start a new career.

WYWM Potential is available on a subscription basis. More information is available here: https://withyouwithme.com/potential/

ENDS

Media contact:
Luke Rix, WithYouWithMe
0422 403 966
luke@withyouwithme.com.au

ABOUT WITHYOUWITHME:

WithYouWithMe is one of Australia’s fastest growing start-ups, focused on helping companies and individuals manage careers. The company was founded by Australian military veterans and has helped more than 7,000 veterans in their transition from the Defence Force. WithYouWithMe is now changing the way companies manage talent and outplacement, with a new platform which helps uncover an individual’s potential and match them to new, in-demand careers.

[1] AlphaBeta, Mapping Australian Workforce Change, October 2018: https://www.alphabeta.com/wp-content/uploads/2018/10/mapping-australian-workforce-change-2.pdf
[2] The Australian, Jobs anxiety hampering policy, 5 December 2018: https://www.theaustralian.com.au/business/jobs-anxiety-hampering-policy/news-story/d479624e174ccfabfa1bff50be439f88