HR Churn Analytics
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Overview:
HR department of any company possesses a lot of data which is not put into use as HR is usually working on the admin and legal issues of the department. One of the organisations was keen to utilize the data and get some meaningful insights leading to a successful model developed for them which helped them predict the employee attrition rate and employee churn.
Business Challenge/Problem:
- Enormous data and no insights.
- Manual and repetitive tasks.
- Employee retention was a major challenge.
Working Solution:
Steps implemented to automate the process:
- Workflow was created to bring all the data together to create multiple reports from one single source of truth.
- Reporting made easy- led to uncover hidden insights.
Steps implemented to Develop HR Churn model:
- Business and technical team worked together to understand the key parameters leading to employee churn.
- The identification of potential factors like Salary gap in the market, Average tenure of the employee in the previous org and performance rating plays important role in defining the model.
- Data Analysis ready reports available to the management at a click of a button.
Benefits Achieved
- Identified skilled employees with high churn possibilities.
- Helped management increase employee satisfaction by identifying and analysing key parameters.
- Forecast workforce requirements by identifying churn probabilities.
- Automate the entire process of manual reporting.
Main benefits achieved: –
- Manual Processes simplified.
- Efficiency increased and sharing became easier, reliable and secure.
- Steps for Employee retention programmes were taken to reduce employee churn.
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