Stop Employee Attrition In Its Tracks With Human Resource Analytics
Take a walk down this hypothetical situation with me. But be warned, you might find yourself in an inexplicably uncomfortable position, one which every manager has probably been in before. After spending months training a new employee, polishing him/her into a shining diamond, you find an email with a heart-wrenching subject line, ‘My resignation…’. Terrible, right? But, there is hope yet! Human resource analytics software can help put an end to such unforeseen heartbreaks! Let’s look at how.
Identifying attrition is a major feature that lies at the core of any good workplace analytics software. But even these automated marvels need a little push to set the gears in motion!
- Step 1: Collecting employee data
- Step 2: Identifying common factors to attrition
- Step 3: Predicting major attrition contributors and even possible future cases
Where does the data come from?
A key difference between an organization that cares for employee opinion and one that doesn’t, is employee survey software. Regular feedbacks, be it daily or monthly, allow employees to air grievances and suggest improvements that can help you make them feel more at ease. Surveys should be concise and to the point, allow for employees to include comments and most importantly – they should provide an option for total anonymity!
Losing an employee is a sad, albeit unavoidable part of work life. But as you bid farewell to your former prodigy, be sure to conduct a pleasant exit interview to examine why they are leaving. Exit interviews are a wellspring of information on employee turnover causes, and an essential part of any HR metrics dashboard!
Common causes for concern
It’s nearly impossible to cater to every single employee expectation. For larger companies, with enormous workforces, providing flexible solutions is a lengthy and often misinterpreted process.
Using our human analytics software for clients around the globe, the following have been identified as the largest factors for attrition (in no particular order). These may vary in your organization.
- Travel associated with the job
- Work/shift timings
- Compensation: wages and salaries
- Bonuses, Appraisals, and Promotions
- Matching age groups in the office
- Pursuing further education
- Biases: gender and race
- Changes in marital status
- Work culture and employee engagement
- Poor management
- Better job opportunities
Think of these as a starting point for your own company’s recognizable factors to employee attrition.
Analysis & Prediction
Appraisal software, staff survey tools, compensation software are all part of a much larger HR metrics dashboard, which can be leveraged to accurately assess the biggest reasons for attrition in your organization. If implemented correctly, HR metrics and analytics can even predict your soon to leave employees!
Here are a few examples of HR analytics at work.
- Using former employee data such as exit interviews and feedback to spot a common factor.
- By combining two or more contributing factors and creating patterns in attrition.
- Declining performances over time can suggest a loss in interest and can be used to look out for soon to leave employees.
- Time taken to address suggestions and complaints may also be correlated to employee turnover.
Don’t lose employees to easily manageable situations! Identify, address and resolve concerns with our dedicated Human Resource analytics and employee survey software! Find out more on compport at: https://www.compport.com/