Paycor released new functionality within its Paycor Analytics tool, offering customers predictive analysis to understand employee turnover. The feature give HR and business leaders insights from their own company data, Paycor said, including identification of at-risk employees, factors driving the risk of resignation, expected resignation across organizations and locations, and the probability and extent of employee turnover during the next 12 months.
Fifty-one percent of existing employees are looking for a new role, according to Gartner data cited by Paycor. At the same time, 52% of those who’ve recently given notice could have been prevented from leaving.Paycor enhanced its Analytics tool to offer customers predictive analysis to understand employee turnover. #HR #HRTech @Paycorinc Click To Tweet
Gartner also described a disconnect between what executives believe makes employees quit and what employees describe as their reasons for leaving. Paycor said predictive analytics can help identify at-risk employees or departments so leaders can address challenges before they become insurmountable problems.
“As companies nationwide continue to face the Great Resignation, it’s more critical than ever for leaders to understand why employees leave – and what an employer can do to prevent or better plan for that outcome,” said Paycor Chief Product Officer Ryan Bergstrom. He called the new tools “an extension of Paycor’s commitment to trusting data analytics in informing our clients’ business decisions.”
Data Behind Resignations
The new offering looks at the top drivers of employee resignation and highlights the five most important aspects for each worker’s prediction, Paycor said. That allows for focused and problem-oriented discussions based on the data. Like other metrics in Paycor Analytics, predictive metrics can be filtered by position, location and tenure, among other things.
The new feature results from Paycor’s existing partnership with the analytics firm Visier. The two companies have been working closely since 2019.
Paycor said the Predictive Resignation tool is the “first of many” predictive reporting features that will be introduced to Paycor Analytics in order to help identify workforce trends.