Talent Analytics’ CEO Greta Roberts was a Keynote Speaker at AnalyticsWeek Boston. She discussed how modern analytics approaches and technology help employers reduce employee attrition (churn).
Why Watch this Game Changing Keynote:
Greta systematically discusses the difference between using predictive analytics to solve specific employee-related challenges (like attrition, or predicting top and bottom performers) vs. just exploring HR data to see what you can find that is interesting.
A summary of Greta’s main points:
- To be highly predictive, analytics projects need to include line of business data (not just HR data)
- There is a difference between “exploring HR data to see if you find anything interesting, vs. using predictive analytics to solve a specific employee challenge”
- Employee analytics efforts need to include performance outcomes (i.e. did sales go up after implementing the models, did call center attrition drop, did insurance agents perform more effectively etc.)
- Deliver ROI shareholders care about – measurable increase in performance, reduced attrition etc.
- Complete, perfect data is an illusion. You can begin now using the incomplete data you have.
- Employee attrition is very expensive and also controllable.
- Insist that your analytics vendor does a cost analysis with you to to help select which variables and projects to focus on / which will deliver greater ROI to the business.
- Performance and attrition are related.
- A little prediction goes a long way.
Who should watch this presentation:
CHROs, HR Business Partners, Analysts, Data Scientists, Analytics Consultants, Risk Consultants, CTOs, CFOs charged with reducing employee costs or increasing employee performance.