Employee retention is essential for running a successful organization. Keeping the crew engaged, happy, and productive can be tricky and depends on many uncontrollable factors. Executives need to plan ahead, control what they can, and figure out who is likely to stay, and who will bolt. AI can help.
This case involves a mid-sized technology company specializing in software development. It has been facing significant challenges in retaining developers. Over the past two years, the company experienced an annual employee turnover rate of 24%, higher than the industry average of 15%. This high turnover was affecting project timelines, increasing recruitment costs, and diminishing overall morale.
The core challenge was to develop a sustainable strategy to enhance employee retention. The company recognized that keeping employees engaged, happy, and productive is multifaceted and influenced by various uncontrollable factors such as personal life changes and broader economic conditions. Executives needed a proactive approach to predict and mitigate potential turnover, ensuring the retention of key talent.
Client:
Confidential
Goal:
Reduce employee turnover
Development Time:
6 weeks
Deployment:
Undisclosed