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Why is Increasing Retention so Important?

Happy employees ensure happy customers.  And happy customers ensure happy shareholders – in that order

Simon Sinek

Enhance Customer Experience

Your Employee Experience (EX) drives your Customer Experience (CX) which drives your revenue.  

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Boost Employee Moral

No one wants to be on a losing team, seeing a constant flow of high performers leave can damage how your people feel about your business.

Turnover is the ultimate people metric

The two most important decisions your people make are to join and leave your business.  You need to understand the drivers of both decisions. 

The Hidden Cost of Employee Turnover

Often organisations track their attrition rates and directs costs such as recruitment fees and training costs but there are hidden costs that many don’t consider. Indirect costs can include:

  • Loss of productivity
  • A poor Employee Value Proposition (EVP)
  • Decreased ability to drive strategic initiatives and change
  • Impact on the Customer Experience and therefore revenues
  • And the list goes on…

“Entry-level positions cost 50% of salary to replace; mid-level 125%; and senior executive over 200% of their package”

Forbes

We offer you 3 ways to measure, understand and take action to increase your retention

Attrition Analysis

We give you the ability to get up to date attrition and retention reporting that incorporates both onboarding and exit survey data.

Our dashboards show you what is going on in your organisation, allowing you to spot trends that ultimately drive engagement, productivity and of course, retention.

Often onboarding and exit survey data is collected but the data isn’t analysed in a meaningful manner. 

This is a rich source of information and we ensure this data is at your finger tips so you can make the best decisions possible. 

Employee Experience Culture Analysis

Employee Experience (EX) is the sum of the experiences (both positive and negative) you provide your employees from pre hire to retire.  It covers the entire employee lifecycle and by listening to your people over time you can understand what works, what doesn’t and what you need to change.

To give you deeper insights into your attrition and retention we can analyse your attrition alongside your feedback on your EX Culture.

Our analysis allows us to understand the drivers of turnover, so you know exactly where to focus and improve the employee lifecycle.

Predictive Turnover Model

As we collect EX and attrition we can begin building your predictive turnover model.  This is a fully customised model that explains your turnover, at your company.

We achieve this by using statistics, Natural Language Processing Machine Learning and Artificial Intelligence to draw causal inferences between your EX data, business metrics and your employee turnover.

The output, we show you which groups are most likely to leave your organisation.  This provides you with the ability to intervene, not blindly, but with a true understanding of what is most important to these people.  We also update our model so it learns as you get better at retaining your people.

Ready To Get Started?