Commercial Validation
Assumption 1
The relevant stakeholders have the capacity, budget and demand for Visability
Experiment 1
Part I: Survey to determine relevant stakeholders
Part II: Conduct semi structured interview demos
Motivations
We need to identify the key hotel stakeholders responsible for implementing Visability, determine if they recognise the problem we’re addressing, and understand the barriers they may face in adopting our platform.
Method
We asked 71 stakeholders who would be responsible for Visability’s implementation. The results led to conducting 45 minute semi structured interviews, presenting UI demos to 13 L+D managers, 8 HR managers and 2 SDMs. We aimed to understand their current L+D processes, their budget and the barriers they have for adopting a new LMS.
Key Insights
Both HR and L+D managers want to be able to provide soft skill development and employee feedback, but need to quantify the value it brings to the hotel. Their feedback stressed the importance of customisability and integration with their workflows, as they currently don't have the time to deliver personalised employee feedback. Further insights included:
Next Steps
We have validated that there is a market need for Visability, but can build additional value into the platform by incorporating the insights found through interviews. We also need to quantify how much money this would save hotels.
Confirm that the money we save hotels through improved retention and workforce performance is greater than Visability's cost. This was validated with Assumption A2
Build spoken and automated methods for managers to deliver feedback to employees, and gain a better understanding of the parts of the content they’d like to modify
Conduct a pilot program with the primary user (employees) to understand their response to the blended platform learning and in-person implementation and where we can make improvements to enhance their experience.
Assumption 2
Visability will save hotels money.
Experiment 2
Survey relevant stakeholders to extract financial data and compare to metrics used in Validation of Visability’s Pricing Model
Motivations
Validate the employee turnover cost of our target hotel chains, and then in combination with the results of Validation of Visability’s Pricing Model determine whether Visability will save hotels money. It is crucial to validate Visability will save hotels money as it forms the foundation of our commercial viability.
Method
We compared metrics on the employee turnover cost, level of turnover, and expected LMS price against the national averages used in Validation of Visability’s Pricing Model and evaluated whether there was enough similarity for our pricing model to be valid for our target hotel chains.
Stage 1
Obtain metrics of turnover cost, level of turnover and expected LMS cost for our target hotels through interviews as part of A1.
Stage 2
Compare results to national average to evaluate whether they offer a good representation to base our pricing off.
Stage 3
Compare our price point to the expected price reported by target hotels to deduce if they would see Visability’s cost as a barrier
Key Insights
The turnover costs, turnover rates, and estimated LMS pricing used in our pricing model align with reports from our target hotel chains, validating that Visability's base pricing is viable for our target hotels.
Our Findings
National Average
Delta
Employee Turnover Cost
3,720
4,160
-11.8%
Level of Turnover
1,004
1,040
-3.5%
Expected LMS Price
87.0
150.0
-42%
Additional Insights: Our discussions further confirmed that Visability will deliver even greater financial benefits to customers than initially estimated. By using the platform, a hotel’s workforce is likely to enhance customer experience, increase internal hiring, and be more receptive to training, all contributing to additional financial gains. However, for this validation, we have not sought to verify these benefits due to time constraints and the feasibility of testing.
Next Steps
With the commercial feasibility validated, we need to establish how we are going to gain market traction.
Prove Visability’s technology
Determine that Visability can deliver on the 15% reduction in turnover used as part of A2, ,and evaluate the Visability platform is an effective tool for increasing employee retention
Establish sales channels
We need to further understand how to maximise the exposure of our product in order to attract customers
Assumption 3
Visability is an effective tool for increasing employee retention, and the onboarding, upskilling and feedback components are the best way of achieving this.
Experiment 3
Part I: Pre- and post-pilot study questionnaire
Part II: Review existing studies on onboarding
Part III: Semi-structured interviews with L+D and HR professionals
Motivations
Test Visability as a tool for improving retention and assess if it can achieve the 15% improvement in turnover that was used in Validation of Visability’s Pricing Model to calculate the cost saving it provides to hotels. Also test that our approach to deliver onboarding, soft skill upskilling, and feedback to employees is an innovative way of tackling the problem. Assumption 3 is a critical assumption, as it straddles both the product and the commercial viability of our business.
Method
The impact of each of the 3 elements of the Visability platform were paired with a sub-assumption and tested in isolation, where the fidelity of the test for each sub-assumption was reflection of its weighted importance in the overall assumption
3.1
3.2
3.3
Sub-assumption
The 8-pillar soft skill upskilling Visability delivers improves employees performance and satisfaction at work, making them less likely to leave.
The engaging onboarding process we deliver will increase employee retention and performance.
Feedback and recognition of skill development is an effective way of improving retention.
Test
Questionnaire completed by 15 pilot study participants, before and after their soft skill training with Visability. Questions assessed their level of confidence, fulfillment and loyalty to their workplace.
Review results of existing studies on impact of onboarding experience on retention in hotels specifically.
Semi-structured interviews with 4 L+D managers and 3 HR professionals focussed on their experience of giving and receiving feedback in the workplace to
Key Insights
Onboarding, upskilling, and feedback are key intervention points for improving employee retention in hotels. However, further validation is needed to confirm that soft skills training delivered through our platform directly impacts retention.
3.1
a) Pilot study participants recorded a 15% improvement in their fulfilment at work and and 20% increase in loyalty to their employer.
b) Increasing emphasis on self-driven learning was discussed, and Visability supports this by fostering employee ownership of their soft-skill development, creating a more proactive workforce and reducing turnover.
3.2
A hotel onboarding experience can increase loyalty to the hotel up to 77%. The characteristics of a good onboarding are organised, excellent training and rapid integration of employees into their teams.
3.3
Frequent, meaningful feedback helps employees feel recognised, supported, and motivated, all leading to increased job satisfaction and a stronger commitment to their roles,.
Next Steps
We've found that employees have the motivation to engage with the self learning we provide, but need to evaluate their behaviour over a longer time period as part of development with our first customer.
As part of our marketing strategy, share information across social channels on the impact of upskilling, onboarding and feedback on employee retention and a hotels bottom line, and capitalise on how Visability serves as a solution for all 3
As part of co-design with our initial hotel customer, formulate a rigorous long-term test to evaluate the impact that soft skill upskilling has on employee retention. A potential method could be a matched cohort study.
Continue user testing with both employees and managers to explore how we can further streamline the feedback giving experience, and enhance the quality of feedback provided to employees.
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