Turnover a New Leaf: Transforming People Retention

Cecile Alper-Leroux
VP Product Strategy & Development
Ultimate Software

People are complicated. Employers know this first hand when they experience the pain of watching their top talent walk out the door without warning. Everything we do at Ultimate Software is about putting people first. I want to explore how transforming a traditional HR process - managing employee turnover - makes our person-centric approach a reality, and helps you meet your organizational goals.

Traditionally, managers subjectively indicate retention risk for employees most likely to leave, and then measure the turnover of that group after the fact. This approach, although useful, can be biased, and does more to explain what happened in the past versus what will happen in the future. We also know that the cost of replacing an employee can be an employee’s salary multiplied, not to mention a significant loss of intellectual capital. As a result, any amount of turnover can cause organizations to fail to meet their objectives.

To truly put people first and transform how organizations develop employees and manage turnover today, Ultimate decided to take a different approach, and searched for answers right in the data. Big data. We leveraged the millions of people records in the UltiPro cloud, and created an algorithm, which generates a score from 0 to 100 estimating employee retention probability.

We call this score the Retention Predictor™. Isolated employee information doesn't necessarily say much about an individual and his or her future at the organization. Metrics calculated using a comprehensive set of data about an individual can provide managers the actionable insight needed as a starting point for strengthening their teams. Managers, who are best equipped to work directly with employees, can use this information to quickly identify flight risks and proactively take action to improve the situation. Executives can see a complete picture of their talent and adjust their business strategies. And most importantly, employees can receive appropriate attention, which could even change their level of engagement and the trajectory of their careers.

So, yes, people are complicated. They always will be. But we feel there are ways in which big data can be presented to the right people in innovative ways that can reduce complexity in the workplace. In a world where retaining top talent is critical, a tool like UltiPro’s Retention Predictor is not just nice to have for your business – It’s a competitive advantage.


Anonymous said...

Soooo, how would one go about getting this number for their company?

Ultimate Software said...

You can get more info from your relationship manager, or by contacting us at http://www.ultimatesoftware.com/ContactUs if you are not an UltiPro user already. We look forward to hearing from you!