PURPOSEFUL ANALYTICS FINAL

PROJECT
Employee Retention Program

PREETH KALA RAMESH KUMAR

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With voluntary resignations at an all-time

high and unemployment rates historically
low, employee retention is a key objective
for most HR organizations, and employee FOCUS –
turnover is the single most prevalent HR
metric. EMPLOYEE
However, knowing your employee turnover
rate does little to support strategic business
RETENTION
plans. To achieve true insight, a more in-
depth analysis of what’s causing turnover
in different parts of the organization is
required.
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Why Employee Retention a Priority in

Our Organization?
 One third of new hires quit their job after about six
(6) months.
 One third (33 percent) of employees knew whether
they would stay with their company long-term after
their first week.
 Some 35 percent of employees will start looking for a
job if they don’t receive a pay raise in the next 12
months.
 One third (33 percent) of leaders at companies with
100 plus employees are currently looking for jobs.
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STUDY THE DATA MODEL

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STUDY THE DATA MODEL

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“PURPOSEFUL” ANALYTICS PROJECT

WHY UNDERTAKE THE PROJECT ?

To overcome the turnover problem

HOW SHOULD THE

PROJECT BE CARRIED OUT
?
All Steps of Project
Implementation to be followed

WHAT WILL RESULT

FROM THE PROJECT ?
Reduce Employee
Turnover with HR
Analytics
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8 STEP MODEL FOR
PURRPOSEFUL ANALYTICS

Frame Business Questions Build Hypothesis Gather Data Conduct Analyses

What are the causes for the Identify the reasons for Through surveys from Find the root causes for the
employees to resign? resigning from employees employees attrition rate

Reveal Insights Determine Recommendations Get Your Access Point Implement and Evaluate
Uncover Insights upon Root Cause To recommend what all factors To address the factors for high To take efficient steps to retain
Analyses and understand the can be controlled to reduce performing employees high talents within the
employee mindset employee turnover organization
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PROJECT IMPLEMENTATION
THREE STEPS EXPLAINED

PROJECT
INITIATION 01
ANALYSE THE DATA – Factors Driving Resignation
PROJECT
EXECUTION
Identify your Retention Problem
02 PROJECT
CONCLUSION
Determine Who Can Be Saved
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 Is it career advancement opportunities? Look For The Causes of Turnover Deliver the Right Employee Retention Results

 Learning and development? Design a Tailored Employee Retention Program

 Flexible work policies?

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Identify your Retention Problem

 Resignation Rate

 Impact on Business Metrics

Look For The Causes of Turnover

 Resignation Drivers

 Resignation Correlations
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Design a Tailored Employee Retention Program

ANALYSE KEY METRICS DRIVING RESIGNATION

Promotions Actioned

Training Impact on Performance and Promotions

New Hire Performance
Retirement Trends
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Determine Who Can Be Saved

Not all turnover is bad, particularly when it is occurring among low performers in non-
critical positions.

Once you have determined which general groups are experiencing high rates of turnover,
you need to ask: What is the population that has a high impact on business outcomes and is
at highest risk of leaving?

 Resignation Segments: By comparing how resignation rates vary across locations, functions,
tenure, age and diversity groups, performance level, and more, you gain insight into how different
employee populations are responding to their work experience. This insight is valuable in
strategically investing in programs that will deliver the biggest results.

 Risk of Exit: This is invaluable because it is easier to stop a top performer from leaving than it is
to bring them back. You may not be able to stop everyone, but if you retain even a handful of key
positions for more than a year, the savings can be significant.
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Deliver the Right Employee Retention Results

 With the right workforce intelligence solution, you will be able to better understand and take
evidence-based corrective actions to reduce unwanted turnover, focusing on top talent, critical
positions, successors, and other “must keep” groups.

 Solution identifies and ranks, in real time, all factors contributing to resignations, so strategies can
be implemented to reduce rates and retain high-performing or critical employees

 Solution is proven to accurately predict employees likely to retire, taking into account all possible
employee attributes

 Solution allows you to compare resignation rates across locations, functions, tenure, age groups,
diversity, and other groups to ensure program investments are targeted where they will deliver most
impact
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CONCLUSION
 Deliver the Right Employee Retention
Results For Your Company

 The new approach to HR requires evidence

to support a well-crafted employee
retention program – tied to a key business
outcome – which is monitored and adapted
constantly.

 Before rushing to introduce a new set of

variables into your complex workforce
environment, stop and adopt a more
scientific approach to the design and
implementation of these programs.

 This way you will get full support for what

your business really needs: a retention
program that works.