From the course: The Data Science of Using People Analytics
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How to improve employee retention with analytics
From the course: The Data Science of Using People Analytics
How to improve employee retention with analytics
- Now that you know how to measure attrition rates, how can you reduce it to improve employee retention? One question I received a lot over time is, what's a good target for voluntary attrition rate? You will want attrition to be zero, that means no one is leaving the organization. Some attrition is always expected in any organization, but you do want attrition to be matching your industry standard. So while each company might be different, it helps to look at how you compare to other companies you compete with. Benchmarking can help you understand what's the current attrition in the industry. If your attrition is much higher than industry benchmark, it may be helpful to understand why and create a strategy to reduce unwanted attrition. If your attrition is similar or lower than your industry peers, there might still be parts of your organization that have too high of attrition rate. In this case, you'll want to start with a…
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