Predictive Models Address Employee Attrition | Deloitte US

Many employers continue to express concerns about talent shortages and employee retention. And to better anticipate and address employee turnover, a segment of organizations turn to people analytics and AI to help answer several questions. As noted in this article, these questions range from 1) To what extent is my organization at risk for attrition within key segments of our workforce now and in the future?, 2) What are the factors that are influencing attrition/retention?, 3) How can I identify and prioritize interventions that could reduce the potential turnover within key workforce segments? and 4) How can I determine which interventions will pay off and how much will I save? As organizations answer these questions, the article points out how firms can overcome challenges in designing and implementing predictive attrition risk models by using a 3-component framework. As one example, for the Sense component—which refers to identifying the internal and external trends that are most relevant to the business to explore in greater detail—one recommendation is to focus on data that is both actionable and relevant to addressing the problem, not just that which is easy to obtain. Recommendations are provided for each of the three components. As a bonus resource, I am resharing this 16-page white paper by SAP, 100 Critical People Analytics Questions How Well Do You Really Know Your Workforce? The paper provides ideas on the questions—beyond employee retention—that people analytics can help to answer about an organization’s workforce.