MyResonance helps companies’ core values resonate across their employees, through the most powerful employee engagement factor, social recognition. MyResonance is a company’s cultural currency. Individuals can earn resonance tokens for both high impact actions (like cycling to work) as well as actions inline with a company’s values. Resonance can then be exchanged for charitable donations, bringing a companies CSR into the limelight and giving individuals a new feeling of inclusion in making an impact so often taken away from them.

MyResonance, your company is all about converting recognition into real-world impact. What kind of recognition do you mean?

That is correct, at MyResonance we focus on two key areas where recognition isn’t always forthcoming but vital for so many reasons. Firstly those actions day-to-day that create positive social or environmental impact. A good example is an individual’s commute to work, London has chronic smog issues and by choosing to cycle to work you can significantly impact this. With these actions we can use technology to measure and quantify the impact.

Secondly and equally as importantly is recognition across the workplace for day to day actions that are not economically motivated such as sportsmanship, civic virtue and conscientiousness. By embedding within the workplace recognition for these two important elements you create an alignment of values and supercharge engagement which currently sits at only 33%, that is a global £5.3Tn problem.

When did you realise that something could be done to inspire real-world impact in people’s day to day activities? Did you have a eureka moment?

Ah, the eureka moment! There’s been a lot of them to be honest, whenever you are developing a new product or service, it’s more about a journey of discovery, building up incremental understanding of the issue as you go. First of all, we’re obsessed with helping individuals make a positive impact in today’s world, that has been our guiding light throughout, and that takes you probably an unorthodox entrepreneurial route at times. It does however allow you to take in very different view-points, we’ve taken amazing insights from leading neuroscientists, a homeless man called Navin, blockchain advocates, workplace culture consultants, charity research groups and carbon footprint experts to lead us to this point.

Why is now an important time to be launching MyResonance? How have your experiences led you here?

Gallup who are a leading HR consultancy has been telling companies about the £5.3Tn engagement problem for 20 years now. However, we see a three-fold difference;  firstly just look in the press, Google and Uber have suffered tremendously due to a lack of alignment of values in their businesses. Ultimately this is ruining very expensively crafted reputations.

Secondly, the HR department is being transformed, you are seeing more and more Chief Happiness Officers popping up in companies looking more closely at the underlying psychological reasons why workforces function beyond simply teaching on the job skills.

Finally, within recruitment, millennials are increasingly showing that they want more than a pay packet today. The companies that don’t create that alignment are seeing their talented future leaders leaving in their droves.

MyResonance at StateZero Labs Launch

How does the system work? Do you earn points by doing good things? What sort of reward system is in place?

It’s very simple, an individual can earn resonance tokens by either doing an impactful action such as riding to work and reducing down the paper they print. Or they can receive it from colleagues for those critical company culture led actions such as conscientiousness or civic virtue, the fabric of any successful business. An individual can then exchange resonance for charitable donations to charities they really care about.

How are you using blockchain technology?

We are using blockchain to build trust between employees, business and the funds that we manage. Also, whilst slightly less interesting but vital to success is the unique way that our data is structured will allow us to provide distributed insights to our user group of the impact they’ve made together.

Do you think that a recent shift has taken place, with people wanting their employers to display at least some evidence of social corporate responsibility?

There are some very interesting signals coming through that suggest that if companies don’t start to demonstrate this then they will start to fall behind. To be more specific we’re seeing interesting statistics coming through from students and their employment preferences, in France 20% of graduates are looking for roles in the charitable sector. This is unheard of in previous years. Large companies like Christian Dior have been making transformational changes to their philanthropic work to try and better retain their young talent.

A recent Deloitte study showed that a millennial is 35% more likely to leave their job if they believe their companies purpose is purely for profit. We are certainly approaching an interesting tipping point.

Why do you think this shift has happened?

You cannot pin-point this down to a single factor, it’s probably a combination of multiple factors. There’s probably an element of increased awareness of social issues due to companies like Netflix, Amazon Prime and Podcasting being able to reach more individuals. This provides context for conversations day to day that everyone is having and any positive or negative association with these issues after the 2nd or 3rd time you speak to people is going to stick in your mind. There is also the realisation from organisation that their brand value is in some cases a multi-billion dollar asset and that can be seriously damaging for companies.

MyResonance at StateZero Labs Launch 2

Can you paint a picture of your company’s culture?

We are strong believers in the importance of living out your personal values at work. If you can get this right then everything falls into place and you create an incredibly dynamic place where your potential can truly be realised. There’s a fair bit of recognition involved also.

How have your ambitions changed since starting MyResonance? Has your model evolved as your idea has grown?

Our ambition is still very clear and simple which is to help individuals drive positive impact day to day. We realised later on the application of this in the work environment could be transformative hence our focus on business. We also realised the huge potential self improvement benefits of such a platform which creates a very exciting future for us as a real enabler for the self and society as a whole.

What is in store for MyResonance in the coming year, after you leave StateZero Labs?

We are launching with two initial partners within the next couple of months with a web version of the platform and integrations with Slack and Cisco Jabber. We will initially be covering 3 actions which are volunteering, cycling to work and reducing printing. We will also be commencing fundraising to allow us to build out a mobile wallet and grow MyResonance presence across the U.K. with a view to conquering the U.S. in 2020.

If MyResonance was in control, what would the future of work look like and how would it be different from today?

The future of work is going to be based on emotional intelligence and how well we can work together as one, if we can help the businesses that really care drive this change with a firm eye on the social and environmental impact of their actions then we’ll have done our bit.

Learn more about the other startups in StateOne here. 

🌎 https://www.myresonance.io/

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