WorkStep Raises $17 Million to Make the Supply Chain a Better Place to Work
Summary
WorkStep, the company helping large supply chain employers, source, screen, engage, and retain their frontline workforce, today announced $17 million in funding led by FirstMark Capital, with additional participation from previous investor and strategic partner, Prologis Ventures. “But with record turnover leaving supply chains understaffed and the remaining workers stretched thin, WorkStep’s technology that improves new hire fit and lifts post-hire satisfaction is crucial to retaining this critical worker segment.” Last Fall, WorkStep launched RETAIN to help supply chain employers increase frontline workforce retention by automating employee engagement, identifying top opportunities to reduce turnover and empowering leaders to drive and measure improvement. RETAIN has been proven to reduce turnover by up to 29 percent, save customers millions in replacement and retraining expenses, and helped propel the WorkStep business to more than double in the back half of 2020. Today, the WorkStep platform uses innovative technology to drive outcomes across the full employee lifecycle, including effective sourcing and screening, ongoing engagement, and supportive career pathing, resulting in more qualified hires that stay at their jobs longer, minimizing the negative impact of constant workforce turnover. With its cloud-based Hire™ and Retain™ solutions, WorkStep provides HR, recruiting and operations leaders full transparency across the employee lifecycle, helping them source, screen, onboard, train, and retain critical, non-exempt talent.
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