Intelligent SME.tech Issue 15 - Page 53

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// INTELLIGENT SECTION // FINANCE | SALES & MARKETING | CUSTOMER EXPERIENCE | HR SOLUTIONS

Paycor enables businesses to forecast employee turnover

IT ’ S MORE
CRITICAL THAN EVER FOR LEADERS TO UNDERSTAND WHY EMPLOYEES LEAVE – AND WHAT AN EMPLOYER CAN DO TO PREVENT OR BETTER PLAN FOR THAT OUTCOME .

P aycor has announced the release of new functionality within its Paycor Analytics tool , which will offer its customers predictive analysis on employee turnover .

This feature gives HR and business leaders actionable insights from its company data , including identifying at-risk employees , factors driving the

51 % OF
EXISTING EMPLOYEES ARE CURRENTLY LOOKING FOR A NEW ROLE , WHILE 52 % OF EMPLOYEES WHO HAVE RECENTLY GIVEN NOTICE COULD HAVE BEEN PREVENTED FROM LEAVING . risk of resignation , expected resignation across organisations and locations and the probability and extent of employee turnover in the next 12 months .
A recent study from Gallup found that 51 % of existing employees are currently looking for a new role , while 52 % of employees who have recently given notice could have been prevented from leaving . Further insights from the study revealed that there is often a disconnect between what executives believe makes employees quit and what employees cite as their reasons for leaving . Tools like predictive analytics help identify at-risk employees or departments so leaders can address challenges before they become insolvable issues .
“ As companies nationwide continue to face the ‘ Great Resignation ,’ it ’ s more critical than ever for leaders to understand why employees leave – and what an employer can do to prevent or better plan for that outcome ,” said Ryan Bergstrom , Chief Product
Officer at Paycor . “ The ability to retain top talent is key for any business and this new offering is an extension of Paycor ’ s commitment to trusting data analytics in informing our clients ’ business decisions .”
The new offering looks at the top drivers of employee resignation and highlights the five most important aspects for each employee ’ s prediction , allowing for focused and problem-oriented discussions based on data-driven results . Like other metrics in Paycor Analytics , predictive metrics can be filtered by position in the organisation , location , tenure and more .
Paycor ’ s new offering is a result of its existing partnership with Visier , a globally recognised leader in people analytics and planning . The two have been partnered since 2019 , with Paycor being the first client to bring predictive analytics to its customers and offer this solution to SMBs .
Predictive Resignation is the first of many predictive reporting features coming in Paycor Analytics that help identify workforce trends that directly affect companies bottom lines . �
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