September 8, 2021
WeatherCheck doesn’t check the weather the way you or I might check the weather. The Louisville-based startup collects weather data from over a dozen data sources to help insurers and homeowners track potential natural disasters.
The insurtech company is uniquely positioned in the US’s Tornado Alley. And initially, the company focused on selling data subscriptions to insurance companies, agents, and brokers about which properties have historically been impacted by weather. Customers could then access damage reports and prepare their properties for incoming storms.
Then, the pandemic struck.
Like most small businesses, the economic fear hit WeatherCheck hard, according to Demetrius Gray, the company’s CEO. Subscriptions dropped as folks were ordered to stay at home. And the company had to cut their expected yearly revenue by 20%. But then, an opportunity presented itself.
Mother Nature stopped for no one (not even a virus). And millions of Americans were affected by wildfires, tornadoes, and hailstorms this past year. Last week alone, Hurricane Ida caused catastrophic damage up and down the East Coast.
The process of filing insurance claims in these events has always been complicated. Many underlying damages escalate months, even years, after the initial event. And with added complications from the pandemic, this process has only become more complex and time-consuming.
So, WeatherCheck pivoted its role to work with homeowners directly. Using machine learning, the platform can geo-locate storms and outline their projected impact. That way, the software can start building out claims before any damage is done, so homeowners can settle virtually and start rebuilding sooner.
Today, having reinvented itself, the company continues to help homeowners after natural disasters. And the pivot worked so well that WeatherCheck ended up almost doubling its annual revenue.
Seeing companies like WeatherCheck really makes you wonder: Where can you pivot to make a rainy situation a bit sunnier?
One of the biggest drains in the hiring process? Sifting through resumes to find the right ones to move on in the process.
The average job opening gets 250 resumes submitted to it on average. And ain’t nobody got time for checking all of those. Especially when you’re running a lean small business that’s rapidly adding headcount.
So, in typical 21st-century fashion, automated resume checkers (like SmartRecruiters) were born. AKA software that instantly denies resumes when they don’t fit the basic criteria needed for a job.
In theory, it’s an incredible idea. But in practice? Eh, not so much. At least that’s what a new report by Harvard Business School says.
Almost 90% of companies surveyed claimed that resume parsing software prevented them from getting solid candidates into the hiring process. All because the screeners are:
As a result, top talent is wrongly left on the table. Businesses are kept scrambling, trying to fill roles they desperately need. And with the record-high labor shortage that the US is facing, companies are feeling the burn from missing headcount more than ever.
So, while automation is the go-to move for most repetitive tasks, it might not be the best when it comes to hiring talent. When the cost of a bad hire is 30% of that person’s first-year salary, checking resumes manually may be worth it... at least until something better comes along.
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Every leader wants to believe they're not a micromanager. But why not know for sure? Answer the following questions to check yourself.
See your results at the bottom of this newsletter👇
THE RESULTS ARE IN
If your answers match two or more of the answers above, you likely have a few micromanage-y tendencies. If your answers perfectly match, yikes - you're almost certainly a micromanager.
But don't worry! Here are a few actions you can start taking immediately to kick those bad habits: