The Most Effective Tool for Growing Better Relationships: Evasight

“With the whole experience taking less than five minutes to complete, we have seen higher completion rates and a much-improved feeling of mutual benefit from every respondent.”

Research shows in many industries, performance measurement systems are either outdated or not even used. In a recent study of over 1,000 organisations, 77 percent of employees believe that the traditional performance management systems in organizations need to be revamped and 94 percent of HR staff think that the annual reviews are outdated and need to be renewed.

Another study by Deloitte Global Human Capital Trends found that only eight percent of companies believe their performance management process is highly effective at driving business value. But to be fair, an effective solution doesn’t exist.

The current standard for business reviews is measurements like Net Promoter Score, a number that gives little to no understanding of where a business can make improvements. Even with the multitudes of tools out there, they lack the sophistication to measure the soft measures that make a difference in relationships like communication, providing knowledge, and saving time. This issue is compounded because value can mean different things, to different people, at different levels of an organisation.

Evasight was born to solve these challenges. Re-writing how reviews can create, harness, and grow the most powerful long-term relationships.

Evasight wasn’t always a modern platform - it started as a manual process using a spreadsheet of formulas, built by a data science team in the media and advertising industry where the client and staff retention is the biggest problem and opportunity. Two years and 36 reviews later, the new methodology and collaborative process between business and client, proved a success with a 23 percent increase in relationship scores.

A critical number and test case, because just a five percent increase in customer retention can lead to an increase in profits between 25-95 percent according to a Harvard Business Review by Bain & Co.'s Frederick F. Reichheld. These results became the catalyst for founders Jimmy Hyett and Adam Browne (business owner and client respectively) to evolve the manual spreadsheet, into a beautifully simple yet sophisticated platform that delivers the most powerful reviews for businesses, employees, and consumers the world has seen.

The Silicon Review contacted Jimmy Hyett, founder of Evasight, who spoke about how the company is making a difference in this segment and plans to stay at the forefront. Below is an excerpt.

Facilitating Success

Evasight gets its power from two core areas – the respondents' experience and the insight each Evasight review delivers back to the business.

The Respondents' Experience: One of the biggest problems with reviews is getting enough people to respond honestly, constructively, or even just respond at all. Evasight solves this by making the process quick and simple to respond to, while also turning unhelpful emotional responses, into rational powerful responses.

How it works:

1. Six questions, and they’re done.
2. The platform identifies five core industry specific values that the business should deliver to the client – and each person is asked to rate the performance for each
3. The sixth question reverses the review, asking how well the client is performing as the client such as, are they responsive, working collaboratively, open to change, etc. “This question became more powerful than we initially expected” said Jimmy, “It completely changes the attitude of the respondent from a critique of the business, to a two-way partnership. And we’ve seen some of the most confronting feedback from the client themselves on this question that’s led to the most positive shifts in the business/client relationships”.
4. We’ve swaped the standard rate from the 1-10 format for a descriptive sliding scale from bad, to great, as this measurement drives more accuracy and consistency across all respondents.
5. Finally, the respondent has the option to leave feedback for each of the six questions, but in the framework of Stop, Start or Continue, which supports constructive and actionable feedback specific to those values.

With the whole experience taking less than five minutes to complete, we have seen higher completion rates and a much-improved feeling of mutual benefit from every respondent.

The Evasight Insights: The real power behind Evasight is delivered by a collection of sophisticated algorithms, giving every response a higher or lower score, based on the type of value that matters most to each individual, then combining those results into a total business score that can be tracked and measured across periods, teams, levels or groups.

How it works:

1. Following completion of each Evasight, the business gets a rich reporting - showing what’s most important to clients at different levels, plus trackable scores, trends and feedback.
2. Scores can be spliced in multiple ways for business leaders to evaluate performance, not just for each Evasight, but also across different teams, locations, business units, etc.
3. Evasight then allows the business and client to focus on the future, not the past, by creating a clear roadmap of actions and insights to continually grow the relationship.
4. Finally, Evasight is supported by intuitive automation that drives the most out of every review, with mid-way reminders of key actions and insights, plus automatically scheduling the next Evasight round so it doesn’t get missed while maintaining all customisations from previous rounds.
   By design, Evasight is all in one place, fully automated and so simple to use, with results viewed on the platform or generated into a presentation alongside commentary, allowing users to focus on the things that matter.

Evasight | Leadership

Evasight was founded by Jimmy Hyett and Adam Browne, utilising the benefit and insight of both business owner and client to identify what matters to each side of the performance review fence.

Jimmy Hyett is the CEO of the award-winning advertising agency This Is Flow. With 20 years of experience in the industry dealing with high net worth clients – client growth and retention was always critical in Jimmy’s world.

Adam Browne is an experienced marketer and General Manager of a $500M+ healthcare business, with multiple products in wholesale and direct to consumer categories. Adam understands what it takes to drive the most value from each of his partners to achieve long-term growth within the business.

“Evasight is supported by an intuitive automation that drives the most out of every review, with mid-way reminders of key actions and insights, plus automatically scheduling the next Evasight round so it doesn’t get missed and maintains all customisations from previous rounds.”