For many Human Resource professionals managing employee turnover is an essential strategy each year. From an organizational standpoint, it is one of the most critical tasks for contributing to the organization's short-term and long-term success and development. To be prepared and have the upper hand compared to your competitors, it is vital to understand your employees' psychology and behavior traits to achieve your strategic goals in employee retention.
In North America, a study showed that 63% of organizations keep track of the causes of employee turnover. These eye-opening statistics show that 81% of employees left for better opportunities, 62% were for family and personal reasons, 41% due to relocation, 39% for a better base salary, and 29% were for a career change. These statistics are not merely numbers but tremendous losses for an organization. Companies have lost performing employees, money, and time to review and hire new applicants and put in the effort to train the new employees, which will cause delivery delays and push forward timelines. And the time taken to re-train recruits may not produce the same results as the previous employee, especially if that employee had years of experience within the company.
Wired2Peform strongly believes that identifying employee behavior using people analytics beforehand and realizing which project, communication approach, skill to opportunity mapping, and creating a desired workplace environment can drastically lower employee turnover. A solution for this problem, Wired2Perform has implemented its psychometric test, which integrates to different areas of the corporate body such as an employee behavior profile containing Skills, Interests, Talents, and Aspiration of an employee, which we call SITA. These profile data will sync into the Wired2perform people analytics dashboard, causing the management or the HR of a company to identify employee trends with their organization.
Some of the insightful data consist of work talent and sales insights from many other analytics, which can help an organization determine employees with specific talents that could be utilized in their organization for particular tasks. For example, an employee who has negotiating skills can be identified from a particular department for jobs that require good negotiating skills, such as discussion to merge software products of a different vendor with your product to drive growth.
Another example can be identifying a particular skill that the company is looking for a Software Engineer within the organization to allocate to a new SaaS project. Wired2Perform delivers a comprehensive set of tools that drive the right employee to available opportunity identification without first speaking to the employee, which can cause unnecessary high expectations for an employee before making a transition decision. These data-driven decisions and activities can increase the rates of successful employee engagement, job satisfaction, and fulfillment rather than trying manually identifying these traits and skills that can cause inaccuracy and revenue loss due to inaccurate manual decisions.
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