Ultimate Showcases Predictive Analysis Tool
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Oct 25, 2024
Oct 25, 2024
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The recently held  #-Link-Snipped-#user conference in Las Vegas gave users an insight into the new predictive analytics capabilities which are set to be included in the Ultimate HR software product.
The developers started with a a client that had approximately 3445 employees. Several years of attrition data were skimmed in order to determine the common indicators that could be useful in predicting future retention. Eventually, five out of the original 150 factors emerged as predictors that actually matched 85% of the actual attrition customer had experienced.
#-Link-Snipped-#
The predictors were then run against the current workforce to identify employee behaviors. The predictive analysis module then scored all the employees based on the five shortlisted factors and Ultimate software ranked each of the 3445 according to their score. The rankings were then grouped  into deciles from lowest scores to highest scores. The lowest score indicated how great the particular employee's chances were to leave the company in near future. The highest score of any employee in the bottom decile was only 26%, meaning he only has 26% chance of staying back in the company.
More surprising and interesting facts came up when the predictive analytic results were triangulated against the performance management data within the HR system. The results indicated that the employees in the bottom deciles included a number of high-performance and high potential employees.
The accuracy of the tool was cemented when 78% of the workers indicated as potential flight risks actually ended up leaving their employer. Hence, Predictive analysis has turned out to be great tool when it comes to judging the work environment and the health of employee-employer relations for firms who are willing to take that extra effort.
Source & Image Credit: #-Link-Snipped-#
The developers started with a a client that had approximately 3445 employees. Several years of attrition data were skimmed in order to determine the common indicators that could be useful in predicting future retention. Eventually, five out of the original 150 factors emerged as predictors that actually matched 85% of the actual attrition customer had experienced.
#-Link-Snipped-#
The predictors were then run against the current workforce to identify employee behaviors. The predictive analysis module then scored all the employees based on the five shortlisted factors and Ultimate software ranked each of the 3445 according to their score. The rankings were then grouped  into deciles from lowest scores to highest scores. The lowest score indicated how great the particular employee's chances were to leave the company in near future. The highest score of any employee in the bottom decile was only 26%, meaning he only has 26% chance of staying back in the company.
More surprising and interesting facts came up when the predictive analytic results were triangulated against the performance management data within the HR system. The results indicated that the employees in the bottom deciles included a number of high-performance and high potential employees.
The accuracy of the tool was cemented when 78% of the workers indicated as potential flight risks actually ended up leaving their employer. Hence, Predictive analysis has turned out to be great tool when it comes to judging the work environment and the health of employee-employer relations for firms who are willing to take that extra effort.
Source & Image Credit: #-Link-Snipped-#