Fathom unveiled its post-research findings from its collaboration with the esteemed National Science Foundation's I-Corps program. These insights pave the way for revolutionary technology solutions aimed at bridging the glaring gaps in the school-to-workforce pipeline.
Timely Research Amidst Global Crisis
Initially slated from January to March 2020, Fathom's founders culminated their research mere days before the announcement of the global COVID crisis and the subsequent lockdowns. Leveraging this unexpected shift, Fathom prudently extended its research throughout the year, amassing pivotal insights that hold even greater relevance in today's changing workforce dynamics.
Key Highlights from the Study Include:
- A thematic analysis of challenges in the current school-to-workforce pipeline, highlighting the disengagement of young individuals, inefficiencies in work-based learning, and the obstacles faced by workforce development agencies.
- A pivotal "Aha Moment" revealed that workforce development agencies funded through WIOA face significant pain points, particularly in participant follow-up, mandated outcome reporting, and risks associated with securing future grants.
- Fathom proposes an enterprise software solution designed to automate the inefficiencies in talent management processes. The platform seeks to streamline outreach, optimize workforce agency efficiency, and adopt a human-centric design to elevate engagement and retention levels.
From the Trenches: Qualitative Data Analysis
Fathom's in-depth interviews with over 200 workforce development professionals, including DOL officials, HR directors, and talent officers, shed light on market failures, business opportunities, and paved the way for the next steps in MVP development, funding strategies, and fostering partnerships.
Addressing Market Failures and Seizing Opportunities:
The study highlighted market gaps such as antiquated talent management processes, disconnected reporting, and compliance challenges. Yet, with every challenge comes an opportunity. Fathom recognizes the potential of new data exchange protocols, interoperable systems, recommendation engines, big data analytics, and automated workflows to address these market failures.
A Moonshot Vision for the Future
Fathom's ambitious moonshot envisions a distributed world of work and a holistic career development platform. As the workforce sector grapples with unique challenges due to the COVID crisis, Fathom's disruptive business model promises to address unmet needs and establish itself as a leader in workforce innovation.
For an overview of Fathom's NSF I-Corps experience, watch the NSF I-Corps Synopsis Video here.
For an in-depth understanding and further details, you can access Fathom's full NSF I-Corps report here.
Fathom is a workforce innovation company offering universal talent management solutions for the World of Work. Their unique approach seeks to eliminate barriers in the education-to-employment ecosystem and pave the way for upward career mobility.
For Press Inquiries:
Learn more about Fathom: fathompbc.org