Such is the case when employees might be looking for a new work opportunity. No, they may not be spending time on the clock searching job boards, but there are other things they are doing that signal potential turnover.
As a business process outsourcing company, reducing employee turnover is critical. Strong retention is one of the things our customers prioritise, and we use technology to make sure we both understand our employees and keep them happy. Here are ways you can do it too, including how to get in front of employees who may already be thinking about leaving, even if they haven’t said it outright.
Retaining talent with leadership that cares
Predictive analytics for proactive engagement
There are subtle things people do that can signal they’re a risk for leaving a job. Even if they aren’t actively looking for a job, or thinking about it, data points can tell us that’s where things are heading.
By analysing job performance metrics, engagement scores, attendance records, and even responses to employee surveys, you gain insight into your workforce's behaviour and satisfaction levels. This can identify patterns and red flags that indicate a risk of employee turnover.
For example, a consistent drop in performance or engagement scores in certain departments could signal underlying issues such as management style, workload imbalance or lack of development opportunities. By recognising these signs early, businesses can take pre-emptive steps to address issues before they escalate into reasons for employees to leave.
Five ways to recharge your retention strategy
Personalised experiences
Long gone are the days when people were happy to be cogs in some business machine. Today, they want to be seen and recognised, but as organisations grow it’s harder to manage. Luckily, technology can personalise the employee experience at scale. Through data insights, we can tailor career development programmes, benefits, and even daily work experiences to individual preferences and needs. Personalisation can significantly enhance job satisfaction and loyalty.
For example, AI-driven platforms can suggest training opportunities to employees based on their unique career trajectories and past performance, making their growth path more engaging and fulfilling.
Three ways to create sustainable employee happiness
Enhanced communication mechanisms
How important is effective communication? According to a survey from Grammarly, ineffective communication costs US businesses more than $1.2 trillion (about £1 trillion) every year.
Fortunately, technology can help by facilitating effective communication channels and feedback mechanisms. Tools such as employee engagement platforms, surveys, and social networks encourage open dialogue and provide real-time feedback. This transparency helps in identifying issues early and creates a culture of continuous improvement.
Moreover, sentiment analysis tools can analyse communication patterns to gauge overall employee morale, providing another layer of insight into potential turnover risks.
Streamlining HR processes
Getting off on the right foot is critical. Staying on the right foot is essential. Too often, HR processes serve the company well, but feel unnecessarily burdensome to employees. Automation and AI can streamline various HR processes, from onboarding to performance management, making them more efficient and employee friendly.
A smooth onboarding experience can greatly influence an employee's long-term relationship with the company. Additionally, AI-driven tools can help in matching employees with mentors or projects that align with their skills and interests, enhancing job satisfaction.
Getting ahead of turnover
Most employee turnover – 70%, according to some statistics – is voluntary. Turnover is a company killer. It slows momentum and stifles productivity. But turnover doesn’t have to be an inevitability. With strategic use of technology, we can get ahead of those considering leaving and create the kind of experiences that keep them from wanting to in the first place.
By Scott Stavretis, CEO and founding director of Acquire BPO
