Who is benefiting from the digital twin?
Case: Company
A tier one bank reduces churn of top performers by 25%
Situation / Problem
There were fundamental challenges in the retention of employees.
It was assumed that churn would take place across all hierarchical levels.
This assumption has not yet been verified internally or externally.
Task
Who is affected by churn?
Is it a problem of the tier bank, the financial industry, or the market?
If so: Are there specific groups where churn is overproportioned?
Result
The twins made it possible to compare the bank with its fiercest competitors.
The bank displayed extreme churn of top performers compared to the local competition.
Action
The bank has taken direct action to retain its top performers.
Through additional coaching and career planning, the churn rate was reduced by 25%.
Case: Executive Search
Within a month, an executive search firm convinces three executives to consider change
Situation / Problem
The firm's own candidate database could not adequately fulfil a specific job opening.
An extended open candidate search was necessary, but there was no tool to pre-qualify potential new candidates regarding openness to engage, resulting often in frustrating experiences on both sides, candidate and company.
Task
The lead profiles the firm were looking for are known, but they lack a scalable approach for contacting them efficiently. Noiseless and validated insights were preconditions.
Result
The twins identified the current stress at company- and management level of the leads.
Pre-qualified candidates were ranked. The more stress in company and team, the higher the expected openness to engage. The core information were provided in specific talk tracks.
Action
The relevant information enabled a partner to approach desired candidates with relevant, timebound and extremely personalized information. Three new executive profiles were directly added to their candidate pool and entered the process for the job openings.
Case: M&A
How an M&A facilitator saves up to $100,000 through pre-qualification per company
Situation / Problem
Due diligence is a time intensive and resource consuming, recurring process for the facilitator.
It is often only understood at a later stage that a company is not a viable acquisition target.
The most difficult to assess component is a long-term focused employee due diligence.
Task
What is an approach for an easier, faster, yet more reliable pre-qualification of target companies?
Result
Twins of acquisition targets with a focus on management level, employee quality and future profitability of the commercial pipeline.
The basis for the decision-making process to continue with a full due diligence or not.
Action
The M&A facilitator uses a customized tool for pre-qualification of acquisition targets, saving up to $100,000 on each evaluation.
Case: Beratung
How a coaching provider won a new customer using the digital twin to form a business case
Situation / Problem
The coaching provider often holds information via networks and contacts about where coaching might be needed.
However, these views are often not shared by the leadership of concerned companies.
The upside of coaching is questioned as the provider lack a real business case.
Task
Find a solution that makes the need for coaching apparent to potential customers.
Result
The twin made it clear to management that €360,000 had been wasted last year due to an increase in early resignations which could have been partially prevented by early intervention.
Action
The coaching provider was able to use the information to gain direct access to the C-Level and successfully place a coaching program, aiming to prevent churn. Their pricing was regarded as competitive compared to the verified twin evidence on actual cost of churn.