Cognovi Labs Opens Access to AI Platform to Provide Real-Time Look at What is Driving Decision-Making in the U.S. Workforce
DAYTON, OH and NEW YORK, NY / ACCESSWIRE / October 20, 2022 / Cognovi Labs, an artificial intelligence (AI) company at the intersection of machine learning and behavioral psychology, today released its first-ever Job Confidence Index revealing how employee confidence impacts U.S. employment numbers. Powered by Cognovi Labs' award-winning Emotion AI, the Index provides a real-time look at how employees' emotional experiences relate to resignations and other job-related metrics in the United States.
"The Job Confidence Index for the first time captures the cause and effect of public sentiment and employment decisions," said Beni Gradwohl, Ph.D., Co-founder and CEO, Cognovi Labs. "While this may be clear in retrospect, the Index allows these to be measured in real time and at scale. Since the vast majority of human decisions are made on the basis of emotion, it is crucial for employers to understand the experience of their employees in a hyper-active job market and have the tools to proactively engage to improve the workplace."
The Job Confidence Index captures confidence in overall job-related conversations along with trending workplace issues like health benefits, diversity, parental leave, psychological safety and retention. It showcases the shifting emotions toward each of these issues and how they evolve over time. The conclusions are derived from emotion AI analysis of public social media conversations relative to seasonally adjusted numbers published by the U.S. Bureau of Labor Statistics. The Index finds, for example, that a spike in confidence toward job issues results in increased hiring the following month, while very low overall confidence leads to reduced hiring. The relationship was established by analyzing monthly Confidence Scores and the next month's employment numbers for the past five years.
"When you connect with your workforce on an emotional level, you create opportunities for meaningful engagement," said Nirit Pisano, Ph.D., Chief Psychology Officer, Cognovi Labs. "Without appreciating employees' wants, needs and decisions, policies that employers implement are less likely to resonate. This index offers a guide to help employers respond with emotional intelligence to their employees, creating a more positive work environment for all."
Other key findings from Cognovi Labs' Job Confidence Index include:
- As seen in the Great Resignation, high confidence in job security leads employees to willingly explore new job opportunities and subsequently quit. In contrast, low confidence in job security will indicate a lower quit rate the following month.
- When employers support their employees to feel high confidence in their work space, whether hybrid or work-from-home or in-office, employees tend to remain in their jobs. Low confidence in their work space leads to the opposite - a higher quit rate next month.
- Trust toward in-office work in 2019 was at a level of 81 out of 100 in online conversations. That number dropped to 44 in 2020 and has not yet recovered in 2022, currently sitting at a score of 59.
- While conversations around diversity in the workforce remain prevalent, the public's confidence around diversity at work remains low. This is caused by years of consistently high levels of trust and hope surrounding diversity efforts, but with low assurance for change.
- Online conversation about paternity leave is extremely low when compared to the volume of maternity leave discussions. Nevertheless, paternity leave inspires a greater belief in what lies ahead (Confidence Score of 67 versus 51 out of 100 in 2022 so far).
- If employees feel highly confident around compensation and benefits, they tend to stay in their jobs. In contrast, low confidence in compensation and benefits leads to a higher quit rate next month.
Cognovi Labs has a history of providing free indexes to support public health and wellbeing: it first measured the public's anxiety at the start of the pandemic and followed up with a confidence index surrounding the Covid vaccine.
About Cognovi Labs
Cognovi Labs is a leading innovator in psychology-driven AI, empowering clients with the predictive tools to engage, inspire and maximize their impact. The award-winning AI reveals how audiences are feeling in the moment and what drives their decisions. Clients then communicate with emotional intelligence to win their audience's hearts and minds, and thereby accelerate their performance.
Companies interested in learning more about the decisions surrounding their specific brand can reach out to Cognovi Labs at [email protected] or https://cognovilabs.com/contact. Follow the latest from Cognovi Labs by visiting https://cognovilabs.com/ or on LinkedIn and Twitter.
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Kenny Conrade
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SOURCE: Cognovi Labs