With the power of People analytics at their fingertips, Ibotta is seeing some major benefits. They've saved hundreds of hours saved building essential executive scorecards, moved from raw data to real-time reports, and even uncovered a key insight that unlocked an advantage in a competitive hiring market.
With the power of People analytics at their fingertips, Ibotta was able to save hundreds of hours building executive scorecards, move from out-of-date spreadsheets to real-time reporting, and even uncovered a key insight that unlocked an advantage in a competitive hiring market.
Ibotta ("I bought a...") is a cash back rewards platform that has delivered $1 billion in cumulative rewards to its users. Launched in 2012, Ibotta has more than 40 million downloads, and offers cash back on purchases on more than 2,700 leading brands and retail partners. Ibotta was named to the 2021 Inc. 5000 list of fastest-growing private companies in the U.S. for the fourth year in a row, after debuting on the list in 2018. The company has also been named as a Top Workplace by The Denver Post four consecutive times.
Ibotta’s Chief People Officer, Marisa Daspit, had a plan to shift the organizational culture away from making People decisions based on gut feelings. She needed to give business leads the tools to make data-informed decisions.
Marisa's team was pulling massive amounts of raw data from their HR systems and manually transforming it into KPIs like turnover, employee demographic percentages, and attrition reasons.
Her team spent hundreds of hours converting raw data into dashboards. Given the effort, they could only produce on a quarterly cadence—at which point the insights were out-of-date.
Marisa wanted the business lead and HR meetings to be focused on implications and strategic opportunities rather than walking through dashboards.
She brought in Knoetic so her team could streamline reporting and give business leaders real-time data access when they needed it.
Marisa and the team has leveraged Knoetic's easy reporting tools to give the people team and business leaders real-time access to their people data. Flexible reporting and quick insights were a game-changer. Time spent building executive scorecards went from hundreds of hours pulling reports that would quickly be out-of-date to under thirty minutes with real-time insights.
Time spent building executive scorecards went from hundreds of hours to less than an hour without the worry of outdated numbers.
No longer does the People team need to be the go-between between business leaders and People data. Executives and directors have been given self-serve access to high-level departmental data so they can explore trends themselves.
A small insight with huge effects. Marisa and her team uncovered anecdotal insights regarding hiring trends. They found that new hire salary demands were starting to increase against the expected offer range.
Rather than wait for yearly benchmarks (at which point the market may have passed them), they used Knoetic to validate this trend. The data helped Finance get on board with adjusting salary ranges, giving them a competitive advantage in the market, as well as reviewing compensation for existing employees. Ultimately, they were able to keep growing at pace and have maintained their target attrition rate. A win-win!