The last two years have had a severe impact on the future of work and our workforce. It’s imperative that HR leaders evaluate the immediate and longer-term impact of these trends and the degree to which they will change strategic goals and future business growth plans for the Industry sector.
What is Employee Attrition?
In simple words employee attrition is reduction in the workforce due to resignations, retirement, sickness or death.
Employee attrition rate tells us which employees are about to leave the organization. A healthy attrition rate is around 10% per year.
Currently, statistics indicate that the majority of attrition happens due to resignations. If the attrition rate is so high in an organization it’s a serious challenge for the HR teams.. Some noticeable consequences include:
The project deadline may fail
Failure to recruit the right candidate at the right time
Additional training and upskilling is also required to train the newly recruited candidates.
In any organization, employees are the key driving force to achieve expected business targets. Sometimes we don’t know the reason why the majority of employees have started leaving an organization. In such a scenario the HR Sixth Sense will come to the forefront.
Imagine, how good it will be if an informer can tell the HR personnel about the reasons for resignation of each employee and who wants to leave next. This will surely make employers try to resolve the issues through personal interaction with the employee and try to retain them. This informer role will be played by e2eHiring's HR Sixth Sense which is our Attrition Analytics product.
The HR Sixth Sense will provide organizations with various insights in a single dashboard. It facilitates you with the list of expected employees who may leave next.
Moreover, it helps HR personnel to freeze or reduce the attrition rate by knowing the reasons for exits very proactively.
This is a huge step towards strengthening the recruitment and job stability process within an organization and will help higher HR officials to recreate strategies and implement the same in more innovative ways.
Exit reason, Salaries, Satisfaction level, Projects, Promotion, Work-Life balance, and many more customized to your requirements.
Employee retention, Preplan your projects, Preplan your hiring needs, ability to overcome sudden challenges that come with resignations.
These will be useful recommendations to the HR officials to take preventive measures with our insights by counseling the predicted employees.
It’s an Integrated Framework that has been developed by blending various Machine Learning Models with NLP capabilities
A plethora of features are taken into consideration such as exit interviews and assessing employee satisfaction as well as assessing exit interviews to conclude the prediction.
End User -
HR Officials, Finance department executives, and any higher authority