You might not yet be able to read your workers’ minds, but these days HR can pick when an employee’s thinking of quitting - before they even know it themselves.
Companies are rapidly embracing analytics to take the guesswork out of retaining their high performers, by identifying when an intervention is needed - and even suggesting what might make them stay.
“It’s impossible for a manager to retain everybody, and to even know who is at risk of leaving. If I’m a manager, depending on the size of my team, I don’t really know who I should be focusing on, what actions I should be taking if I perceive there to be an issue. It’s kind of a guessing game,” says Andrew Shopsowitz, director of product management at Ceridian.
Analytics help eliminate that guesswork - especially when it comes to knowing that your top performers are at-risk.
Shopsowitz, Ceridian’s vice president of market research Jayson Saba and Brandon Hall Group’s principal analyst Cliff Stevenson will discuss how to use predictive analytics to prevent flight risk in a webinar on July 18
Ceridian’s own Dayforce system, for instance, uses multiple benchmarks to identify the point in time when a certain class of employee - whether a part-time admin worker in Winnipeg or an executive leader in Toronto - is going to start looking elsewhere.
Once a flight risk is identified, Dayforce asks the manager questions like: “Did the person have a conflict with a co-worker recently? Have you had a conversation with them where they expressed that they weren’t happy? Is there something you know that a system couldn’t possibly know?”.
It then gives feedback on what the company should do to entice the worker to stay.
While some HR professionals may be reluctant to let a machine guide decisions that have traditionally been made by humans, Shopsowitz says having that information can lead to major cost savings.
“If you actually do the math and you think of your company, with a turnover rate of about 10 percent annually, even if you can shrink that from 10 percent to nine percent, and you’re a large company - say, 5000 employees - there are massive hard cost savings and return on investment to be had by that.”
for the free webinar on How to Avoid Top Performer Flight Risk on July 18 at 2pm ET.
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