Having a good idea of when people are going to leave an organization is valuable intelligence, but knowing the reason why they leave delivers a superior competitive edge. Historically, intuition and experience have been the primary methods of determining when people are leaving, why, and what action to take. Now, with a more data-driven approach, a leader can either back up or refute their instinct and make more informed strategic decisions. Due to the increasingly complex nature of individual organizations, traditional methods that worked in the past will often miss the mark. A one size fits all approach or blanket policy no longer fits the bill in the multifarious world of business. Even organizations that come from the same industry most likely have more differences than similarities.
To meet these challenges, we’ve designed a predictive modeling solution that is sensitive to the unique dynamics of a given organization. For example, our turnover driver solution allows organizations to look at any population breakdown within their workforce and identify what the primary drivers of turnover are across that population and for key individuals within it.
Once the key drivers of turnover are identified for a given sub-group or individual, a data-driven retention strategy can be designed. The optimal measures that are likely to help retain one employee might be different from those necessary to retain another. Our solution might suggest that Employee X needs a pay raise, while for Employee Y, moving them into a different team size or a team with a more experienced manager might be a simple and inexpensive alternative. Finding the rightly fitted retention measure for each individual employee is efficient and invaluable.
This process of predicting outcomes and prescribing actions to improve them can be accomplished through Vemo’s cloud-based software technology for ongoing insight. Analyzing the data at a more granular level can help organizations to improve work environments, boost retention, enhance engagement, and manage employees more effectively. Effective predictive modeling and data science tools can fundamentally transform an organization and shape a much healthier environment.
Vemo is a leader in workforce planning and analytics subscription software and predictive analytics consulting services. Vemo differentiates itself in the market by its expertise, innovation and customer-oriented approach.