Governing Employee Retention Through Predictive Analytics
Infinity HR's online tool analyses a business’ data to identify patterns and trends in employee behaviour. This information can help identify at-risk employees and take steps to improve retention. The tool can also be used to identify which employees are most likely to be valuable long-term contributors, and design programs and policies accordingly.
What is Employee Retention?
Retention is a business’ ability to prevent employee turnover, or the number of people who leave their job in a certain period, either voluntarily or involuntarily.
What Data Does Our Online Tool Use?
Our personality profiling tool collates individual and business data to provide analytics and identify trends that can help businesses improve their overall retention.
Data on individual employees includes information on their job roles, skills and abilities, performance levels, and other factors relevant to their likelihood of leaving the business. This data is collected through employee surveys, performance reviews, and other similar methods.
Data on the business includes information on its overall financial health, turnover rate, the average length of time employees stay within, and other factors that may be relevant to employee retention. This data is collected through public filings, financial reports, and other similar methods.
Benefits of Predictive Analytics for Employee Retention
Employee retention is a huge challenge for businesses. The cost of replacing an employee can be up to 1.5x their salary. Here are the benefits that come along with using predictive analytics:
Assist to identify patterns in employee behaviour that may indicate they are considering leaving the organisation. For example, if an employee starts looking for new jobs, or requests time off around the same time each year, this could be a sign that they are considering leaving.
Assist with understanding the factors that contribute to employee turnover, businesses can implement policies and programs that help retain their top talent.
Assist with reducing costs associated with recruiting and training new employees.
Our tool has made great strides in helping businesses unlock the power of predictive analytics to drive employee retention. By leveraging its data-driven approach, businesses can gain deeper insights into their workforce and identify which strategies will be most effective for retaining top talent. Furthermore, its powerful platform allows HR teams to quickly evaluate existing initiatives and launch new ones with confidence. Ultimately, this helps businesses reduce their turnover costs and ensure that they have a motivated and engaged team working towards achieving success.
Curious about our tool?
Take advantage of our 2-week free trial and see the results! This will help you gain a better understanding of yourself, uncover aspects of your behaviour that you may have been unaware of, and provide valuable insights into how you interact with others, leading to improved communication and teamwork. Sign up today and start exploring the potential of Infinity HR's online tool. Fill the below form to get started!