How to Prevent Employee Turnover With Predictive Analytics
On average, 24% of employees research new job opportunities annually, with 46.6 million Americans quitting their jobs in 2022 alone. Employee turnover is one of the largest expenses organizations face. Estimates show replacing an employee costs an average of six to nine months of their annual salary — which can total in the hundreds of thousands of dollars, depending on the role. Reducing that churn saves your organization significantly on advertising costs, assessing talent pools, [...]
How to Implement Skills-Based Hiring and Compensation
Company’s today face increasing challenges when hiring and retaining employees. Job roles change quickly, with one study from LinkedIn showing skill sets for jobs have changed globally by an average of 25% since 2015. That fluctuation is attributed to the implementation of new technology, automation, and new roles — and it’s only expected to accelerate. Hiring people for specific competencies requires investing (often significantly) in re-training them to meet the requirements for your role. One [...]