Employees leave organizations for various reasons and this causes morale issues and ongoing disruptions for internal teams. In order to address this, companies are turning to AI to help minimize attrition. The client is a US based Multinational Software Company that deals with computer hardware, middleware and software. The objective was to predict employee attrition considering parameters like wages, distance from home, tenure with company, overtime, supervisor name etc. This helped them to make better HR decisions to curtail employee attrition rates. After a detailed evaluation of their data, AI Labs used its proprietary Minsky AI Engine to optimize the models by using a combination of AI algorithms and prediction attributes. In this case, Minsky used historical data for model creation and predicted employee attrition rate by using real time employee data. This solution was optimized and implemented in less than a week.
Typical Employee Retention Challenges:
Meeting customer deadlines.
Making a continuous impact on growth and stability of an organization.
Investing time and money in training individuals to train them in all aspects only to find out that they want to leave the organization.
Difficult to find replacements to exactly match the unique skill set. At the desired wages.
Difficulty in managing the shifts.