Through our proactive retention system, you will be able to direct resources to improve retention rates for measurable ROI.
Link individual and workplace characteristics to voluntary attrition.
We use analytics to understand your unique primary drivers of employee decisions to quit or start looking elsewhere for better opportunities. Common industry-standard estimates of the cost of losing an employee vary by complexity and level of responsibility from 50% to 150% of annual salary for that person lost.
Losing versus retaining talent is key to organizational success, and the high cost of losing someone makes it easy to demonstrate positive Return on Investment (ROI) from efforts to understand, predict, and influence your workplace climate.
Develop index to predict employees’ risk of attrition.
We take the analytics around your voluntary attrition to develop predictors of risk of attrition for your crew. This helps to target retention efforts (think raises, bonuses, promotions) to an optimal set of employees to improve your odds and drive ROI of your investments. Even before decisions are made on, for example, annual pay raises, you will have evaluated the estimated impact on attrition and ROI of alternative talent management strategies.
Targeted actions: ROI through increased retention.
Take an organization with 200 employees with an annual rate of voluntary attrition of 12%. With an average annual labor cost per person of $40,000, the estimated annual cost of voluntary attrition approaches $1M. If you could achieve a 10% decline in voluntary attrition year over year—challenging but achievable goal of saving 2-3 talented employees—you could realize a net gain to the bottom line of $96k.
12%, 24 employees, $960,000
10%, 21-22 employees, $864,000
2-3 employees changed their minds, producing $96,000 in value.