Who needs spreadsheets, annual surveys and excruciating “Blue Sky” thinking to get ahead?
Not Innovative business owners, who will doubtless be delighted to hear about a new management tool app that has just raised €1.17m from as many as 34 angel investors.
That many money men can’t be wrong, surely?
The app, called Idea Drop, provides managers with a “beautiful, lightweight” tool they can use to ask staff for feedback about projects, or for new ideas, and even anonymously, all in an effort to “kickstart positive change.”
Idea Drop sifts through all the data it receives, and makes sure bosses only see the best and brightest ideas, which presumably means the best supported.
The firm are already working with the BBC, Sevenoaks School, and the Lear Corporation, and are offering a free 30-day trial for new users.
This is not the only staff tool available for managers who want to obtain quick feedback from staff, however. Motivii, founded by serial entrepreneur Eamon Tuhami, once of Experian, is an app designed to help managers keep track of what staff are working on, by requesting 3 weekly updates, and to record a one-off “motivation score” from their staff each week.
The results over time can be revealing and like Idea Drop, can be anonymised, and used for more sophisticated purposes like assessing the effects of seasonality on a workplace, whether spending on employee benefits is proving effective, and when staff are achieving their peak performance levels.
Idea Drop was co-founded by Owen Hunnam and Charlie de Ruset, and it is a cloud based product. The founders say it is already being used by SMEs in 61 countries. The company raised £1m in funding in May 2016, according to Crunch Base.
Investors include Lord Smith of Kelvin, and Simon Cole, of 7Digital, a successful broadcast entrepreneur, has joined the board of the company.
“We believe the global idea management space is significantly under-served and, remarkably, this tech sector along with the key leading vendors have failed to innovate in recent years”, says Hunnam.
HR Tech is an exciting space to play in, with some genuinely talented founders – this sector is already being disrupted, but it is very much ripe for fresh investment.