Consider what the company loses when a valuable employee leaves: innovative product ideas, outstanding project management, and client relationships, to name a few. With advancements in Artificial Intelligence, it is now possible to not only predict but also understand the main factors that affect employee attrition.
At Rytfit, We use artificial intelligence to build prediction models that offer real-time indicators of employees who are about to leave.
WHAT ARE THE PRE-QUITTING BEHAVIOURS?
Researchers from Harvard gathered and edited hundreds of pre-quitting behaviors by interviewing managers and employees. Some of the important pre-quitting behaviors are:
HOW DOES AI IDENTIFY THESE BEHAVIOURS?
According to experts, the data commonly used for such analytics include:
- Number of past jobs
- Number of promotions
- Cognitive and emotional traits
- Communication style
- Skills
- Compensation
- Performance ratings
- Feedback from references
- Attendance
- Birth and wedding announcements
While personal data offers important insights, some employees might leave the company due to overall organizational and leadership changes. So, an AI-engine will also look into the following organizational data:
RytFit uses the AI-driven prediction model that will analyze all these data to identify patterns and indicate the probability of an employee leaving the organization. However, we need to understand that it is difficult for any model to accurately predict human behavior as there might be too many variables beyond the influence of an organization that can impact an employee’s decision-making process. Accepting the limitations of such models we can still use them to complement our existing processes.
HOW CAN THE ORGANIZATIONS PREVENT THIS TALENT ATTRITION?
Equipped with the valuable insights derived from the AI-driven algorithm, organizations can proactively engage with employees to prevent attrition.
CAREER DEVELOPMENT
Employees consider career growth and work-life importance as important for a job. They want to make an impact at work and become valuable employees thereby boosting their career growth. RytFit uses AI-powered engines to help businesses in succession planning, talent redeployment, and talent rediscovery. This helps managers to constructively engage with top talent and encourage them in their career development.
WORK-LIFE BALANCE
Organizations must offer their employees the flexible work option for optimal productivity. This provides employees the much-needed space to relax and regroup to work harder. This will also ensure that they don’t feel like leaving the company. An AI-powered chatbot can be used to engage with employees regarding their leave and telecommuting requests instantly. It can also be used to monitor their workload and allocate tasks accordingly.
Finally, hiring the right candidate who perfectly fits into the company culture can significantly bring down the attrition rate. RytFit assesses the talent’s personality, skill, qualifications, and the probability of long-term employment to identify the right talent for your company.