Using data driven HR tools to predict and prevent employee attrition
We’ve discussed it on this blog before: high-performance employees are rarely motivated by financial incentives. Instead, intrinsic motivators such as autonomy, purpose and mastery have far greater influence over a talented candidate’s willingness to stay at a company.
These employees thrive on communication and feedback to improve their craft and feel heard and valued. Listening to these employees can provide valuable insights to the business and improve HR and business leaders’ understanding of what motivates them and how to retain them.
But even the most talented and involved manager will find it impossible to keep track of every employee conversation. Thankfully, the digital transformation of work has pushed many of these employee conversations to the digital realm, where they generate data that can be tracked, analyzed and used to build a deeper understanding of employees.
How data shows you what employees want
Social platforms such as LinkedIn provide useful and accessible sources for employee conversations. By applying sentiment analysis to social media posts related to the company, HR leaders can gain accurate insights into the perception of the company’s employer brand.
Regular pulse surveys provide a snapshot of employee sentiment at any given time. HR leaders can then use this insight to introduce interventions and programs that address perceived shortcomings.
Employee resource groups are also sources for employee sentiment, especially among minority groups who may have very specific requirements and expectations of their employer. Annual 360-degree performance reviews further provide HR leaders with on-the-ground insights into how employees feel about their superiors and their teammates.
Benefits of taking a data-driven approach to HR
There is arguably greater value in analyzing the behavior of employees instead of only their conversations. By taking a data-driven approach to HR, organizations can:
- Discover which business units or job functions experience the highest attrition rates;
- Find out who the top 10% performers are and how they contribute to the most important company values;
- Ensure every employee is receiving regular, real-time feedback, and highlight areas where employees could benefit from further feedback;
- Gain insight into which employees are most likely to leave, and provide an appropriate intervention to retain those employees; and
- See which employees did not complete their integration program and are at risk of attrition as a result.
Tools for data-driven HR
Corporations and their HR leaders are turning to technology platforms such as viGlobal’s suite of data-driven HR tools to better manage their workforce. These tools improve the integration of new hires, help manage diversity and inclusion initiatives, provide greater visibility over top-performing employees and equips them with real-time data to improve decision-making.
All of this adds up to smarter decisions regarding an organization’s most valuable asset: its people.
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