The Sprockets Platform

A man typing on a keyboard and text reading "Improve Employee Retention With Artificial Intelligence"

How to Improve Employee Retention With Artificial Intelligence

How to Improve Employee Retention With Artificial Intelligence 1016 528 Sprockets

Did you know that the average cost of losing an employee can be more than $5,000, according to a study conducted by The Center for Hospitality Research at Cornell? This includes costs associated with pre-departure, recruiting, selection, training, and lost productivity. Plus, you have to consider the amount of time this whole process wastes when you could focus on important daily tasks instead.

Luckily, there are tools available that can improve employee retention with artificial intelligence! Sprockets, for instance, provides a user-friendly platform with a whole suite of sophisticated, AI-powered solutions. It predicts which applicants are the most likely to succeed and stay long-term, helping you build better teams from the start and reduce costly employee turnover.

Sprockets: Improving Employee Retention With Artificial Intelligence

How It Works

The way Sprockets works is simple. First, it creates a benchmark for success based on the personality traits of your current top-performing employees. Each incoming applicant is then evaluated with that unique success profile, allowing the Sprockets software to identify shared characteristics. Then, you can select the candidates with the highest “fit scores.” It removes the guesswork and reduces the number of interviews necessary to find the ideal employee.

Plus, the Sprockets platform includes free job posting to websites like ZipRecruiter and Snagajob ($400 value), reveals which applicants would provide Work Opportunity Tax Credits, and offers virtual recruiters who send instant alerts when a match has been found!

The Benefits

Owners and operators, especially in fast-paced industries with high rates of turnover, don’t have nearly enough time to search for applicants. That’s what makes Sprockets so essential. It’s the missing ingredient in your hiring process, empowering you to find and retain the best workers with less effort and resources. Here are the results that Sprockets users enjoy, on average:

  • 43% improvement in 90-day employee retention
  • 37% less time spent on the hiring process
  • 22% increase in annual employee retention

Success Stories

So, you know that our solution is powered by AI and proven by data. Now, it’s time to see what others have to say about Sprockets! These are only two of the many testimonials we’ve received from happy customers:

“We’re pleased with the investment, and we are absolutely going to continue to [use Sprockets] because it cuts down the amount of time we would spend on bad interviews.”

– Michael Mann, General Manager, Chick-fil-A

“The onboarding process was extremely easy. It was fast and very professional. I can’t think of a single problem or glitch that we had. As far as [Sprockets] being trustworthy, I would give that a giant stamp of approval.”

– Alecia Pineo, Owner, Visiting Angels

Match, Hire, and Retain Top Performers

The Sprockets platformStart improving your employee retention with Sprockets! It removes the guesswork from the hiring process, making it simple to select the ideal applicants and stop the cycle of costly turnover. You’ll even get access to free job postings, tax-credit experts, and virtual recruiters to source and screen candidates more effectively.

Schedule a brief demo now to see how Sprockets can improve your retention by 43%!

Someone on a laptop with text reading "An Overview of Pre-Employment Assessments"

Why You Need Pre-Employment Assessments in Your Hiring Process

Why You Need Pre-Employment Assessments in Your Hiring Process 1016 528 Sprockets

Pre-employment assessments are helpful hiring tools for a variety of reasons: They can predict an applicant’s ability to perform tasks, give insight into how they’ll interact with co-workers and customers, and enable managers to make more informed decisions. Plus, these tests potentially remove bias from the hiring process and reduce the time it takes to identify the ideal candidates.

Sprockets is a particularly effective solution with unique pre-employment assessments that reveal the best applicant even before the interview. Our AI-powered platform features a sophisticated applicant matching system that finds the common thread between your top performers and potential hires, empowering you to build better teams and improve employee retention by an average of 43%!

An Overview of Pre-Employment Assessments for the Hiring Process

Pre-employment assessments vary, covering everything from hard skills (experience) to soft skills (personality traits). There are generally five types of tests. These include:

1. Hard Skills Tests

These assessments measure the technical expertise of the candidate in a particular subject area or industry. Recruiters and hiring managers often use these to weed out applicants who do not have the minimum required skills for the job.

(Be careful with these, though, because applicants with no industry experience can actually be the best hires!)

2. Work Sample Tests

Work sample tests help you understand a candidate’s potential effectiveness in the workplace by mimicking events that would occur on the job. They are useful for predicting performance since you get a more realistic preview of how they would behave on a day-to-day basis at your company.

3. Interview Assessments

Of course, there’s always the traditional interview assessment to determine job fit. This crucial step in the recruiting process is an opportunity to test both hard skills and soft skills as well as meet the candidate in person.

There are typically two general ways to conduct interviews: structured and unstructured. Structured interviews allow every applicant to answer the same set of questions in the same order. This can reduce bias and maintain the consistency of data used to evaluate candidates.

On the other hand, unstructured interviews simply aim to build rapport between the interviewer and the candidate. The unstructured format allows more freedom for the conversation to flow naturally. This is typically the better option when evaluating applicants for positions and industries that involve customer service, like home health care and quick-service restaurants.

4. Cognitive Ability Tests

Cognitive ability tests improve the recruiting process by enabling you to assess a candidate’s decisions during an unexpected situation. This is done using “game-based” assessments, which test cognitive skills in a faster, efficient, and user-friendly way.

5. Personality Tests

You can also use personality tests to hone in on specific characteristics that contribute to an applicant’s soft skills, like communication, teamwork, and work ethic. Sprockets’ three-question surveys, for instance, use natural language processing to measure over 50 different personality traits!

Predict Applicant Success With Pinpoint Precision

A man on a laptop doing a pre-employment assessmentImprove employee retention, reduce the costs of turnover, and build better team cohesion with Sprockets! Our AI-powered solution has all the ingredients for the optimal hiring process, including sophisticated pre-employment assessments. Sprockets uses brief surveys to find out what makes your top performers tick, and then it evaluates incoming applicants with that benchmark. You’ll instantly see “fit scores” that indicate who has the highest likelihood to succeed and stay long-term.

Numerous business owners from top brands, like Chick-fil-A and Visiting Angels, trust Sprockets to hire the best candidates. Curtis Wilhelmi of McDonald’s says, “It’s a no-brainer!” Schedule a demo today to discover the ideal applicants and start enjoying the same success.

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Earn More Work Opportunity Tax Credits With Less Effort

Earn More Work Opportunity Tax Credits With Less Effort 1016 528 Sprockets

Sprockets can help you earn up to $9,600 in tax credits per eligible new hire! Our platform not only reveals which applicants will perform like your top employees, but it also reveals those who qualify for Work Opportunity Tax Credits. You’ll improve your bottom line, provide jobs to individuals who might otherwise face bias, and increase employee retention! You even have access to a dedicated tax expert who can help maximize your credits and handle the paperwork.

Discover Which Applicants Are Eligible for Work Opportunity Tax Credits

The Sprockets platform makes it easy to view each applicant’s eligibility and the value of the tax credits received for hiring them. You could receive between $2,400 to $9,600 for each eligible person you hire, depending on their WOTC Target Group, such as SNAP Recipients, TANF Recipients, Supplemental Security Income Recipients, and Unemployed Veterans.

See Who Will Perform Like Your Best Employees

Our AI-powered software also displays which applicants will be excellent additions to your team. The process begins by creating a unique success profile based on the characteristics of your current top-performing employees and scores each incoming applicant against that benchmark. You’ll see “fit scores” next to WOTC eligibility in the dashboard, allowing you to hire the ideal applicants who will both succeed and provide tax credits.

Let Our Experts Take Care of the Details

As an added bonus, you have access to a dedicated WOTC tax expert to help you every step of the way. The expert will evaluate your new-hire process, send the WOTC questionnaire to applicants, set up the paperwork, give you completed IRS forms for easy filing, and answer any questions you may have. With all the time you save, you’ll be able to focus on the day-to-day operations of your business rather than dealing with the tedious tax process.

Start Maximizing Your WOTC Incentive Today

A screen showing applicants who are eligible for Work Opportunity Tax CreditsIf you’re not already taking advantage of this program, now’s the time! Sprockets offers seamless integration with WOTC and our AI-powered Applicant Matching System. Schedule a demo today to see how our platform reveals WOTC eligibility, predicts success with pinpoint precision, and improves overall employee retention. We can’t wait to help you hire the ideal applicants and earn Work Opportunity Tax Credits!

A woman on the phone with text reading "Maintain Healthy Staffing Levels With a Virtual Recruiter"

Maintain Healthy Staffing Levels With a Virtual Recruiter From Sprockets

Maintain Healthy Staffing Levels With a Virtual Recruiter From Sprockets 1016 528 Sprockets

Despite the high rate of turnover in the QSR industry, GMs are afforded little time for hiring crew members who are the precise fit for their needs. Luckily, a Sprockets Virtual Recruiter can quickly stabilize staffing levels and take pressure off of managers so they can focus on the daily operations of their business. A member of our team will recruit hourly workers, contact potential hires, re-engage past applicants, and improve employee retention. You’ll never miss out on a high-quality hire again!

Increase Applicant Flow

Your Virtual Recruiter makes it easy to post jobs on Snagajob, ZipRecruiter, Adzuna, Upward, and more for free. Plus, they’ll routinely re-engage previous applicants to capture their potential interest again. So, you always have a healthy flow of applicants to choose from whenever an employment opportunity opens up at your location. That means less time and money lost due to turnover. It’s a win-win for applicants and employers alike.

A phone with a pop-up that reads "Ideal Applicant Found"Reduce Applicant Response Time

You never have to worry about constantly checking job sites or reviewing resumes again. Your Virtual Recruiter will monitor submissions, evaluate applicants, and immediately alert you whenever they identify someone who would be a good fit for your team. GMs can focus on important day-to-day operations and schedule interviews with the click of a button to keep applicants engaged and interested in the position at your company.

Improve Employee Retention

Best of all, our AI-powered platform is proven to improve employee retention by an average of 43%. The Sprockets software creates a unique success profile for your individual location based on the mental makeup of your top employees. It then uses that as a benchmark to find future applicants with similar characteristics. 

Job seekers simply fill out a brief, three-question survey when they apply, and you see their “fit scores” in your Sprockets dashboard along with the automatic alert. It empowers you to hire the ideal applicants every time, ultimately reducing costly turnover.

Get Your Virtual Recruiter Today

What was once too good to be true is now a reality. You can get a dedicated member of our team to drastically increase applicant flow, reduce response time, and improve employee retention while you and your GMs focus on other aspects of the business. Schedule a brief demo today and see how a Sprockets Virtual Recruiter can help maintain healthy staffing levels for your business.

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Franchise Hiring: The Best Tips for Building an Effective Team

Franchise Hiring: The Best Tips for Building an Effective Team 1016 528 Sprockets

So, you’ve finally made it. You’ve become the owner of a franchise location, and it’s time to build an effective and reliable team. This might sound easier said than done, but there are steps you can take to establish the team your business needs. If you are in the process of choosing employees, managers, and supervisors, here are some team-building tips that will prove beneficial to both you and your franchise.

Franchise Hiring 101

1. Utilize Pre-Employment Assessments

If you are struggling with franchise staffing, you should consider the power of a pre-employment assessment. These assessments help you find out more about the personality, goals, dreams, and working style of each potential employee. Everyone is unique, but you only want to hire the best of the best. You can achieve this by working with top pre-employment assessment companies, like Sprockets.

The idea of issuing an assessment to potential hires might seem daunting at first, but it is an effective way to find workers who will best support your business goals. Company culture is important as well, and an assessment can help you find out which applicants will work well together and contribute to a positive workplace environment.

2. Be an Effective Leader

There is no doubt about it; when it comes to franchise staffing, you will need to be an effective leader, even when your employees are not present. You must be able to inspire your employees and encourage them to perform at their optimal level. 

Keep in mind that imposing your will in an authoritarian manner is not necessarily the way to go when leading others. As the leader, you must be able to foster a culture of transparency and trust, and you must be honest and open with your employees about any potential problems your franchise faces.

Here are some of the skills you should have to be an effective leader:

  • Communicate clearly: Your team must understand the primary goals of your business at all times. If they do not, you must be willing to help them realize their role in the project and how it impacts the bigger picture.
  • Delegate wisely: As much as you might like to at times, you can’t do everything by yourself. You must have the ability to delegate certain tasks to others. Delegating is an important part of leadership. Also, keep in mind that some individuals are better at specific things than others — use this realization to your advantage.
  • Be approachable: You can’t be everyone’s best friend, but your franchise employees must be comfortable coming to you with questions and concerns. They should feel as if their voices will be heard and valued.
  • See the bigger picture: The ability to see the bigger picture is an integral part of being a leader. Small details matter, but you should be able to see how they combine to create a bigger idea. Keep your eye on the end goal while managing day-to-day tasks.

Any team that doesn’t have a strong and direct leader will quickly fall apart. Always be sure to lead by example and serve as the focal point of your team.

3. Define What an “Effective” Team Is

Creating a team that flawlessly executes every single task you set before them is not easy. To build a sufficient franchise team, all individuals involved must collaborate and make conscious efforts to achieve certain goals. If you want your team to be effective at all times, the following elements must be present:

  • Clear roles: Each team member must have a clear understanding of who does what. They should also understand what they are responsible for and how it impacts the entire company.
  • Excellent communication: Your team members should feel comfortable speaking their minds (in a respectful manner, of course), and everyone should feel heard. As a leader, you should feel comfortable providing guidance and correcting errors, if necessary.
  • Clearly defined objectives: Without clearly defined objectives, it will be nearly impossible to complete any task. Make sure your employees understand what is expected of them at both an individual and group level.
  • Cooperation: Although everyone should understand what is expected at an individual level, they must remember that they are part of a team. Always emphasize the importance of collaboration and group goals.

Once you decide what will make your franchise location great, you should decide what will make your team great. Only hire employees who can add their own brand of greatness.

4. Encourage Team Cohesion

Without a cohesive team, it will be hard for your business to excel. Cohesion among team members is immensely important if you intend to run a franchise location, so you must take steps to help your team members feel like they are a part of something bigger than themselves. Ideally, your team should be self-sufficient and capable of performing excellently without you having to guide them through every single step. Training such a team can take time, however. You must ensure your team members feel comfortable working with each other, even when you are not around.

There are numerous ways to help your team become more cohesive and goal-oriented. Team-building exercises can help your employees build trust and depend on each other to some degree. You should also encourage your employees to get to know each other. This is often easier said than done, but you can break the ice with after-work gatherings, casual lunches, and other fun group activities.

Finally, you should encourage your employees to collaborate with each other. If each team member is only focused on themselves, it will be difficult to reach company goals. Set collective goals and reward your team for meeting them. You can also have more experienced team members mentor less experienced members or those who are struggling.

5. Encourage an Environment of Contribution

If you really want your franchise location to grow and expand, you should try harnessing your employees’ ideas. Every person is unique, just like their perspectives and beliefs. When you take the perspectives of others seriously, you have the opportunity to add fresh ideas into the mix. Your employees might feel uncomfortable contributing new ideas at first, but by creating an atmosphere of trust and respect, you can quickly put their fears to rest. 

Encourage your employees to share more information than usual about their progress. By asking for feedback and reports, you can gauge each employee’s level of contribution as well as see how close the team is, as a whole, to meeting overall goals. Make your employees feel like their ideas and feelings matter to the franchise and their leader. 

Build the Best Team With Sprockets

A team of franchise employees with their hands togetherBuilding the right team can contribute greatly to the success of your business. Finding the right employees to staff your franchise location can seem difficult at first, but there are ways to simplify the process and ensure you assemble the best team possible. By keeping the previously mentioned tips in mind, you can build a team you can rely on and be proud of for years to come.

Plus, you can utilize the Sprockets platform to enhance your hiring process and reduce costly turnover. Our sophisticated, AI-powered solution combines psychology and technology to find the ideal employees to suit your needs. Our Applicant Matching System automatically analyzes the mental makeup of applicants to determine who will — and won’t — be a good fit for your team within minutes. It’s not magic — it’s logic. 

Schedule a brief demo today and start hiring the ideal applicants!

A woman on a laptop and text reading "Everything You Need to Know About Vetting New Hire Remotely"

Everything You Need to Know About Vetting New Hires Remotely

Everything You Need to Know About Vetting New Hires Remotely 1016 528 Sprockets

The COVID-19 pandemic has not only led to a rapid shift in remote work, but it has also changed the vetting and hiring of new employees. In fact, according to an HR survey by Gartner, 86% of companies are hiring and conducting interviews virtually. With unemployment rates increasing, it’s becoming a mammoth challenge for HR teams to find top talent from the large numbers of applicants without meeting them for the first interview. However, planning properly and leveraging the right resources can help your HR team successfully execute and expedite the remote-hiring process.

We’re going to take you through the entire process of vetting and hiring new employees remotely to ensure good hiring decisions and set your company up for success.

1. Define Your Ideal Candidate Persona

Employing someone based purely on your gut instinct can be a gamble. Not knowing what you’re looking for in a candidate could result in making a bad hiring decision, which might be costly for your company. As such, the first thing you should do before you put out a job posting is to determine what you’re looking for in a candidate. You should identify the traits and skills that are absolutely necessary (and those skills that are nice to have, but you can teach a candidate once they’re hired if they don’t have them). Establishing what you’re looking for in a candidate at the start of the process will not only save you plenty of time and money, but it will also help narrow down your search to the top candidates for the role.

2. Develop a Clear and Accurate Job Description

Next, you need to curate a stellar job description that’s detailed and clearly lays out what you’re looking for. Be clear about the open position’s requirements, including the desired skills and experience, working environment, responsibilities, and overall conditions. Doing this will help potential candidates know what exactly the job entails and what you’re looking for in a candidate, which will let them decide whether they’re a perfect match for the open position before applying.

3. Automate the Screening Process

Rather than reviewing hundreds of resumes manually, which can be laborious and time-intensive, you can utilize an automated screening tool to help sort the candidates based on their qualifications. This helps streamline and expedite the hiring process by categorizing the applicants based on how qualified they are for the position and team.

4. Conduct Pre-Employee Assessment Tests

After you’ve screened candidates, send them a pre-employment assessment test to see whether they’ll succeed in the role and fit in with the team before inviting them for the interview. This helps save both the candidate and your HR team valuable time if they lack the skills and personality you’re seeking.

5. Outline the Interview

Maintain a pre-planned structure for your interview by determining the topics you plan to discuss and the kind of questions you’d like to ask. From the pre-employment assessment test, you’ll have an adequate understanding of an applicants’ background and skillset. This allows you to focus the interview on getting to know them more personally and determining if they’d be a good fit with the rest of the team. You should come up with a detailed list of essential questions for the interviews you’re planning to conduct. Ensure your questions can help derive insight into the candidates and evaluate their ability to carry out the role as required.

6. Utilize Remote Meeting Tools for Your Virtual Interview

Proper preparation is crucial to ensuring the interview process goes smoothly. First, you need to decide what virtual meeting platform you’ll use for the interview. You also need to ensure clear communication of the meeting details, including who will make the call, date, and meeting time. Apart from using remote meeting tools to conduct interviews, you can utilize on-demand interviews (have pre-determined questions that applicants can record their responses and send them in). Make sure to evaluate the applications and interview recordings as a team to ensure compatibility.

7. Complete HR Paperwork Virtually

After you’ve found the right candidate for the role, make an offer and finalize the hiring process via tools like DocuSign, applicants will be able to sign the offer document electronically and send it back to your HR team.

Take Your Virtual Recruiting To the Next Level

A woman showing a laptop screen of the Sprockets hiring platformWould you like to find out how Sprockets can take your talent acquisition to the next level and reduce your employee turnover and dependency on sourcing new candidates?

Request a demo today or contact us for more information or for help with any questions you might have. We look forward to helping you build the best team possible for your business!

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The Importance of Recruiting for Personality: Everything You Need to Know

The Importance of Recruiting for Personality: Everything You Need to Know 1016 528 Sprockets

What matters more to you when hiring: the applicants’ personality or the skills in their CVs? A study revealed that 78% of professionals from various industries agreed that personality is the most crucial factor when hiring. These employers cited the initial skillset as the least important factor. Many employers want to find people who will mesh well with their values and cultures.

Why Should You Recruit for Personality?

According to Leadership IQ’s study that involved about 20,000 companies, 46% of new employees quit their jobs or fail within one and a half years. Also, a whopping 89% of those failures were due to attitudinal reasons. You can imagine the cost these companies incurred due to high employee turnover. So, assessing your applicants’ personality rewards you with the following benefits:

1. Boost Employee Engagement: If a person’s preferences and interests fit a job, they’ll keep them engaged over a long period in the workplace. As an employer, you’ll want to know your potential employee’s engagement level in the job. People who enjoy doing their tasks are more likely to derive satisfaction from their jobs. Consequently, they’ll gladly welcome opportunities for growth and development in their careers. As such, expect improved on-the-job performance, which will boost the overall success of your business. 

Your business needs people that will freely share ideas and forge robust cooperation. However, it’s nearly impossible to determine if a potential employee can interact positively with your customers and other employees before hiring them. That’s where an employee personality assessment becomes useful. You can determine an applicants’ social skills with a quick personality test.

2. Increase Employee Success and Job Performance: Pre-employment personality assessments can give you powerful insights into a candidate’s future success at the workplace. If you’re looking for employees that will post stellar performance in your business, the assessments will help you identify desirable personality traits.

These traits include professionalism, high energy, confidence, self-monitoring, empathy, etc. You can rest assured you’ll reduce your employee turnover by recruiting for traits such as these. Your workforce will tend to stay positive in their jobs and improve performance.

3. Reduce the Cost of Bad Hires: You win some and lose some, but it’s expensive to hire badly. So, strive to hire more people with the right personality. While a typical profit-and-loss spreadsheet will never reveal bad hires, evidence shows that low employee retention is among the factors that hurt corporate profitability. According to research, a company can incur 50% to 400% of an employee’s annual salary if that employee leaves. 

What Are Some of the Crucial Personality Traits to Look for in a Candidate?

When arming yourself with personality tests for your applicants, be sure you identify all the ideal traits that fit the target positions. Here are the most common qualities to test:

  • Professionalism: This trait includes a person’s attitude, behavior, and conduct in a business or work environment. You want people who conduct their jobs in a way that preserves and even boosts your company’s image.
  • High energy: An employee with high motivation will work their tail off to bring maximum value to your business. They’re usually highly engaged, proactive, energized, driven, focused, and coachable.
  • Confidence: Having technical skills is one thing, but demonstrating confidence in your skills to solve an issue is another thing. Does your candidate believe in themselves and their ability to serve clients, interact with other employees, and push your business forward?
  • Self-monitoring: Don’t hire a person that will laze around and scamper to their duties when they see you or their superior. Go for those who value the company’s time, know how to use their skills for particular tasks, and self-monitor their improvement. Such breeds don’t need high levels of supervision. 
  • Team-player: While one person can move quickly, your company requires team players if you’re looking to grow. Employees who easily collaborate among themselves will brainstorm on ideas, solve problems together, and support each other for common goals.
  • Empathy: A highly empathetic personality strives to cultivate curiosity about strangers, discover commonalities, listen well, and try to understand another person’s situation. They also have ambitious imaginations. Hire empathetic people to wow your clients, surrounding community, fellow employees, suppliers, and other stakeholders. 

How Personality Assessments Can Help Pin-Point the Right Candidates

Employee personality tests aim to determine attitudinal and other traits. Most modern tests, like Sprockets’, employ a combination of psychology and technology to identify red flags. Forward-thinking companies understand the importance of hiring for personality and embrace these psychology-backed assessments. They’ve realized that relying on gut feelings and CVs alone can only take them so far.

The icing on the cake is that you can get the testing done within just a few minutes using a desktop or mobile device. You can then use the results to assess how applicants will fit with your business culture. With these personality assessment tests, you’ll get all sorts of relevant information concerning your applicants, like their:

  • Level of emotional intelligence
  • Work ethic
  • Reliability
  • Score in terms of the big five personality dimensions: extraversion, conscientiousness, neuroticism, openness, and agreeableness

Would you like to customize the tests to meet your specific wants and needs? These psychology assessments can handle that too. 

Hire the Right Fit With Sprockets!

A woman showing a laptop screen of the Sprockets hiring platformThere’s more to hiring the perfect candidate than experience and skills. Hiring someone with the right personality is crucial to the company’s success. While skills can be taught, having the right attitude, passion, and eagerness for a field cannot. Focusing on the candidate’s personality is vital to ensure a healthy work culture and employee engagement amongst team members. The wrong personality and attitude issues can impair workplace morale, draining your energy, resources, and time. Eventually, negative traits can drive away your hard-earned customers and top performers. 

Do you find it hard hiring the right fit for your business work culture? At Sprockets, pinpointing the perfect match is our business. Request a demo now and see how we can bring value to your business. 

A woman looking at a tablet researching how to choose the best franchise brand and text reading "How to Choose the Best Franchise Brand for You"

How to Choose the Best Franchise Brand for You

How to Choose the Best Franchise Brand for You 1016 528 Sprockets

Buying a franchise location might seem like a shorter path to business success than starting from scratch. However, there is more to a franchise than the upfront costs. Franchises are available in almost all industries, meaning potential investors have an array of options. But how do you narrow your choice down and choose the best franchise for you? Here are a few factors to consider when evaluating a franchising opportunity.

Find Out How a Franchisor Treats Its Franchisees

The first step toward determining if the deal is right for you should be discovering how the founders of franchise brands treat their individual franchisees. Visit existing franchisees and discuss their experience with the founders before making your decision. Treat any franchisor not willing to let you meet its franchisees as a red flag because opting out of a franchise after signing an agreement can be challenging and expensive.

Consider a Coaching Program

Investors often overlook the importance of a well-thought-out coaching program before opting into a franchise. Successful franchises understand that their success hinges on the expertise of their franchisees. Thus, a reliable franchise will typically invest in a coaching program to make its franchisees savvy and entrepreneurial.

Consider the Costs of Buying a Franchise

Most franchise agreements contain hidden fees in addition to the marketing and training fees and royalty payments. Therefore, investors should read the terms of a franchise to determine if it’s the best opportunity for their goals.

Check Out the Business Model

A woman looking at the business model of a franchise

Everyone would want to invest in a proven business model. Any franchise opportunity that doesn’t offer a proven business model should be another red flag. A reliable franchise should have working systems ranging from marketing, payroll, upsells, and customer service. Find out if franchisees are taken through training or if they are left to figure out the system on their own. You’re about to commit to a serious business partnership. So, it is a decision that no one will want to take lightly. Understand the terms of the franchise and get ready to learn more about the franchisor.

The best franchises to own are those led by honest and focused people concerned about those who invest in their network. A trustworthy franchise will have genuine people behind its brand. Franchise brands with a healthy system will also respond to your queries with relevant remarks and not rehearsed referral scripts. Those interested in a franchise should understand their business partner to make sure a franchise opportunity is worth their time and money.

Ask for Proof of Success

Some franchises can’t succeed unless they get specific connections or talents. So, before you opt into a franchise, research franchisees who have already partnered and succeed with that franchise. Identify the common factors of success to determine if you are an ideal fit. Evaluating the profitability of a franchise can be tricky because the profitability of different franchisees tends to vary. 

A variety of factors, including location and season, can affect the profitability of a franchise. Get a comprehensive performance report from other franchisees and find out how the successful ones overcame challenges. It might also be helpful to see if some franchises have failed recently and to research the reasons behind their failure. Most new franchisees fail due to undercapitalization. Never commit your funds to a franchise unless the franchisor has demonstrated their ability to support your growth.

Seek Advice From the Successful Franchisees

Find out what other franchisees think about the brand. It is easy for a potential investor to get swayed by the fabulous information the franchisor espouses. It would be wise for a potential franchisor to seek advice from the franchisees who have succeeded. 

A reliable franchisor should be willing to train and mentor newbies. The franchisor should also be glad to help newbies align their interests with those of the franchise. Joining a franchise committed to connecting all its franchisees can increase your success odds. The best franchises to own give their franchisees territorial protection, making them confident to ask their peers any questions and share their insights. Other franchisees’ experiences can increase your odds of success.

Budget

Most franchises require their potential franchisees to have a certain amount of capital before their operations commence. It could be inventory, infrastructure, equipment, and other supplies needed to start a franchise model. The franchise will add these tangible items up and list them in a franchise disclosure document, which helps determine the amount of capital needed to join a franchise. However, it is recommended to have twice that amount before you buy a franchise due to future uncertainties. 

Most franchises require their franchisees to have a minimum 680 credit score. The amount a potential franchisee has borrowed should be 30% less than the amount available in cash. Your total net worth should also be at least 1.5 times the borrowed amount.

Consider the Latest Trend

No one wants to waste their time and resources in a fad. Instead, everyone wants to invest in a relevant and current franchise. Those interested in franchise brands should research consumer needs and look at what is lacking in the market. It’s a good sign if statistics show people are interested in the services being offered by the franchise you want to join.

Follow Your Passion

You can invest in a new or established franchise. Either way, your success depends on your passion for franchised networks. For example, investing in KFC would be the perfect move for someone passionate about fast-food restaurants. New franchise networks can be difficult to run, but they offer more opportunities than established ones.

Consider Competition

Lack of stiff competition is one sign that a franchise offers excellent opportunities. There could be fast-food restaurants on every corner, and if that’s the case, consider exploring other less competitive niches around you. Choose a franchise that encourages repeat purchases to ensure the growth of your business. Investing in a franchise with at least a 97% customer retention rate could be a worthwhile deal.

Final Thoughts for Your Franchise Decision

A woman showing a laptop screen of the Sprockets hiring platform

All successful franchises are typical in that they view their franchisees as their partners, and they are concerned about them as they are about their businesses. When a franchise is run well, it is hard to find an investment opportunity that can match the growth capacity, power, speed, and leverage that the franchisee and franchisor can have. Those who have been passionate about joining a franchise should consider the above tips to find the right investment choice.

Once you choose the right franchise brand for you, you’ll need to choose the right applicants for your team. That’s where we come in. Sprockets is an AI-powered solution to hiring that empowers you to build the best team possible, no matter what type of franchise you open.

Schedule a demo today to see how Sprockets sets you up for success!

A woman showing a laptop screen of the Sprockets hiring platform

SENTIO Becomes “Sprockets” as We Set Our Sights Even Higher for 2021

SENTIO Becomes “Sprockets” as We Set Our Sights Even Higher for 2021 1016 528 Sprockets

Big things are happening here at Sprockets! We recently received a $3.4mm venture raise after all of our success in 2020. This investment puts us in an even better position to serve customers in the new year with feature expansions and integrations with other major hiring tools that you utilize. During this time, we’re transforming ourselves to convey our mission more effectively: to harmoniously unite the right people with the right possibilities.

Whether you’re an applicant or employer, you can rest assured that Sprockets has what you need. We’re defining the future of the hourly workforce with our Applicant Matching System.

New Name, Same Mission

While our name has changed, our commitment to you has not. People need to get back to work, especially after such a turbulent year, and you need to find the best of the best for your business to achieve success in 2021. Our data-driven platform is still the go-to solution for matching the right people to the right possibilities with pinpoint accuracy. When you succeed, we succeed!

Change isn’t always easy, but this one is. We want to assure our current customers that this doesn’t affect how you interact with our hiring platform. You don’t need to do anything differently besides enjoy the new and improved look of our company. Use our platform, as usual, to continue finding the right candidates for your team. Of course, feel free to contact us with any questions or concerns you might have. We’re always here to help, especially during transition. 

The Story Behind “Sprockets”

Have you ever really watched a relay race? It’s a thing of beauty to see a group of athletes working together, seamlessly handing off to one another with perfect choreography, moving forward in tandem toward the same goal. Like a relay athlete or a sprocket in a machine, the right employee joins colleagues to drive an organization forward in efficiency and harmony.

Simply put, “Sprockets” represents our mission more clearly. “Sentio” means “to understand,” but we go far beyond understanding workplaces and candidates. We determine if candidates will fit — and work harmoniously — with other coworkers, thrive in their unique environments, and stay long-term.

Exciting News and Plans for the Future

We’ve always been a forward-thinking company, and that remains the same as well. The updates to our name and appearance offer a taste of what’s to come as we shape the future of hiring. You can look forward to many more improvements and enhancements to your experience with our platform, especially since Sprockets recently acquired a $3.4 million raise from venture-capitalist investors. We’d like to thank the following companies for their contributions and confidence:

It’s rare for any South-Carolina startup to receive investments from outside the Southeast, which is why it’s truly remarkable how a company such as ours was able to attract world-class funding during a global pandemic. This invigorating news has us excited for the future as we look to make 2021 the best year yet for Sprockets and all of our loyal customers!

Sprockets: It’s Not Magic — It’s Logic

If you don’t currently use our platform and are interested in enjoying the success that so many satisfied customers have achieved, we’d love to help. Take a moment to book a meeting with one of our team members to learn more about how Sprockets’ sophisticated solution to hiring can reduce employee turnover, saving you time and money. It might be the best decision you make for your business!

Home Health Care Staffing during COVID-19: Lessons from our clients

Home Health Care Staffing during COVID-19: Lessons from our clients Sprockets

Home Health providers are no strangers to working in the face of acute outbreaks. Providers previously showed their ability to protect patients during the SARS outbreak in 2003 and again during the H1N1 pandemic in 2009. According to industry experts, home health providers should be prepared for an influx of patients due to COVID-19.

Now is one of those times where the industry, its leaders, and their staff are truly being tested. With that in mind, our team spoke with some of our home care clients about how they are handling staffing during this trying time. Our hope is these insights help owners and managers strategize for how to handle an influx of patients as well as people applying to be caregivers.

**These insights have come from conversations with owners of Home Instead, Visiting Angels, Right At Home and other home health brands nationwide.**

 

“We lost a few of our caregivers one day, and the next we saw 100s of new caregiver applicants. We are needing to be agile when it comes to hiring.”

BrightStar Care Operator in California

 

Be prepared to over-staff
Just about every owner I spoke with is increasing their hiring in preparation for some subset of their staff getting sick, needing to be out of work, or deciding they are not comfortable seeing patients. Also, with kids staying home from school, many of their caregivers are looking to reduce or rearrange shifts in order to accommodate the new normal.

Our clients are taking a page from other industries that ramp staffing during the holidays and bringing on applicants under the agreement that they are temporary for the foreseeable future. One tactic they are using is messaging all previous applicants and asking them to reapply. Previously, our team has found that 32% of previous applicants will reapply through the Sprockets platform when prompted.

 

Handling an influx of applicants
As other industries dependent on the hourly workforce scale down their staff, Home Health care locations are seeing an influx of applicants. Not all of our clients need this many staff members, but don’t want to miss out on what they are calling “an unfortunate opportunity”. When asked to explain, they helped me understand that they don’t want to miss out on quality applicants. Sourcing is not always easy in Home Health, so they want to make sure they don’t pass on an applicant that could be a great hire in the future.

What we found is these locations are still sending applicants through the Sprockets system to be scored and archived for future hiring needs. The prevailing thought is that when they need to potentially over-staff, or a staff member gets sick, they will have a group of pre-qualified applicants to call.

 

Who’s suited to provide patient care?Someone providing home healthcare to an elderly woman on the stairs

Asking a caregiver to go into someone’s home in the face of a pandemic can be just as unnerving for that person and it is for the patient that is allowing them into their home. What our clients have found is that a certain subset of their staff is not comfortable providing care during this time period.

With that said, other caregivers don’t waiver. This all comes down to the personality of the individual. What we have started to advise our clients to do, is understand the personality profile of the caregivers that are still willing to work and compare the influx of new applicants to those individuals. Home health owners are using Sprockets to help them isolate which applicants have the right mental makeup for this type of work in the climate of COVID-19.

 

Making the difficult choice
While most of the owners I spoke with are positive about how to handle staffing, some are worried about how to keep their best staff members should they need to suspend operations. Responses ranged from making choices based on past performance to simply instituting a last-one-in, first-one-out policy.

Of course, the advice our customer service team provided was to add objective data to the mix. By knowing who your top performers are, regardless of tenure, you have a better understanding of who is working well for your location.

 

Patient care and hiring will continue…
Our clients feel prepared to handle the trying times that COVID-19 has brought. They know they will continue to need quality caregivers and that hiring will remain as constant in their business as demand for in-home care. Again, our hope is the lessons our clients have taught us will be helpful to you and your business.