We all know that excessive employee turnover cripples businesses. To help organisations avoid this we build predictive models that show them which groups of people have the highest attrition risk. This allows them to put interventions in place that specifically deal with the causes of attrition, therefore lowering the risk of high employee turnover.
How do we do this?
As we know, every organisation is different which means that using benchmarked data only goes so far. Understanding a percent turnover number has value, however it is a lag indicator and doesn’t show the reasons for the turnover.
At EXpotential we look at employee attrition through an Employee Experience (EX) lens.
We define EX as the the sum of the experiences you provide your people. By measuring your EX, we are able to understand whether the environment you’ve created adds or detracts from your people’s decision to keep working at your organisation.
Our platform is built to capture EX data at scale and a high cadence. This means we can create baseline data and then measure movements in this over time right across your Employee lifecycle, or what we call, the EX Curve. This provides ongoing insights into the moments that matter to your people.
To understand what the causes of the turnover are, we combine and analyse your EX data with that data you collect about your people over time e.g. performance, salary and tenure data.
This step often gets skipped as many employee engagement providers only use their survey data. By building in your data we are able to increase the robustness of the model, ultimately giving you a clearer view of your future attrition risk, that is customised for your business.
When you combine EX and attrition you get what we consider to be the ultimate health barometer for an organisation. By taking this approach we have helped businesses decrease their turnover and increase the engagement scores by close to 50%, not to mention the huge sums of money saved by taking an EX approach to running their businesses.
Shifting to using HR predictive analytics can sound daunting, however we can tailor our approach to work alongside your needs. Whether it be running a pilot with a department that is struggling or capturing organisational EX data to get baseline information, we can customise our approach to fit your needs.