2 MIN READ Predicting Employee Churn Overview An Issue that is burning in most of the Organization, is Employee attrition. Numerically analyzing attrition is a bit tricky. This stems from the fact that the base of employees is continually in flux. Every month new hires join the salesforce, some employees are involuntarily terminated, some voluntarily leave the company and some others go inactive without leaving the company like when they go for a sabbatical, etc., additionally, the quality of attrition is important. While managing and controlling attrition is an important responsibility of Organization Leadership, attrition affects other Organizational functions as well. However, the highest impact and effects of attrition are felt in the business functions of the organization: services, projects, production, delivery and so on. Solution Approach Adopting multiple ensemble approaches, random forest, support vector machines, logistic regression we could come up with the probabilistic risk profiles of the employees. We also could find the top 5 reasons causing employee attrition. Advantages Easy to find suitable replacements with high experience and special skills. Less spent on recruitment, training, and salaries for the new employees. It helps ongoing projects and services, which leads to satisfaction among customers and other stakeholders. NASSCOM survey says that the cost of attrition in the Indian industry is 1.5 times the annual salary. Takes less time, effort and money to recruit new employees have required skills and experience and to achieve the same levels of expertise and productivity. Latest Blogs 29 Dec 2023 Artificial Intelligence And Machine Learning Differences 25 Dec 2023 Artificial Intelligence In Manufacturing Industry 17 Dec 2023 Document Automation Its Benefits
2 MIN READ Predicting Employee Churn Overview An Issue that is burning in most of the Organization, is Employee attrition. Numerically analyzing attrition is a bit tricky. This stems from the fact that the base of employees is continually in flux. Every month new hires join the salesforce, some employees are involuntarily terminated, some voluntarily leave the company and some others go inactive without leaving the company like when they go for a sabbatical, etc., additionally, the quality of attrition is important. While managing and controlling attrition is an important responsibility of Organization Leadership, attrition affects other Organizational functions as well. However, the highest impact and effects of attrition are felt in the business functions of the organization: services, projects, production, delivery and so on. Solution Approach Adopting multiple ensemble approaches, random forest, support vector machines, logistic regression we could come up with the probabilistic risk profiles of the employees. We also could find the top 5 reasons causing employee attrition. Advantages Easy to find suitable replacements with high experience and special skills. Less spent on recruitment, training, and salaries for the new employees. It helps ongoing projects and services, which leads to satisfaction among customers and other stakeholders. NASSCOM survey says that the cost of attrition in the Indian industry is 1.5 times the annual salary. Takes less time, effort and money to recruit new employees have required skills and experience and to achieve the same levels of expertise and productivity.
