The war for talent is no longer about attracting high performers but about keeping them on board. Every voluntary leaver is an immediate impact on your profitability. The cost for hiring, onboarding and training a replacement can amount to 1,5 times the yearly salary. But that's only the tip of the iceberg. Companies should also take into account costs like missed business opportunities and lost productivity, and indirect costs such as the impact on the morale and the engagement of the rest of the workforce.
Predictive: who has a high risk to leave on a voluntary basis in the next months?
Prescriptive: what are drivers for leaving and what are the levers for preventing it?
Save the cost for hiring and training replacements
Avoid productivity loss and lost business opportunities
Prevent low morale and disengagement in your workforce
In people-intensive businesses the smallest loss in productivity will have a significant impact on the bottom line. Optimizing the utilization rate of talent has an instant impact on profitability. But how to manage performance and productivity? Raising the targets? A new performance app? The next hyped training? Too many companies only have the lagging indicators on the radar and need to make assumptions about the leading indicators.
Predictive insights: Which individuals or teams are expected to show a significant productivity increase or decrease in the near future? Where to expect absenteeism, disengagement, or suboptimal utilization?
Prescriptive: what are proven levers to increase productivity? Which people interventions (training, planning, work regimes, ...) will effectively increase productivity?
Top and bottom line impact by improved utilization of the existing workforce instead of hiring extra resources
Increased employee satisfaction by proactively helping them to meet their targets and tailoring their planning to their needs.
Increased employee lifetime value
Grow your business without raising your salary cost
Recruiting and selecting the right talents is critical for every growing business but the strategy in place is often one of adding resources (recruiters), inefficient processes, unclear criteria and biased judgment. Decisions based on theoretical job descriptions and unvalidated competency models are common. How do you detect the real life criteria for a good talent-function fit? How do you quickly and accurately narrow down your long list of candidates? How to assess time to productivity and future success of the candidates on your shortlist? Without relying on gut feel?
Descriptive: which features determine success in a certain function/role?
Predictive: what is the expected time to productivity of a candidate?
Recommendation: which candidate matches best the success criteria?
Save hiring cost: recruiters, campaigns
Avoid the cost of hiring mismatches: total cost for replacement, productivity losses, …
Increase performance and productivity by validated talent - function matches
Avoid hiring cost by matching internal talent with open positions
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