Ask Visier: Why Are Your Employees Resigning?
Most organizations are now dealing with the great resignation wave. Learn how to reduce the impact from one of Visier’s people analytics experts.
Ask Visier is a weekly column where a people analytics expert dives into one of the 2000+ business questions available in Visier and shares how to take action on the answers you might uncover on that topic.
Finding out why employees are exiting and how to retain them is top of mind for many organizations. Especially as we look towards a post-pandemic world and an increasing number of employees are choosing to leave their jobs. Prudential’s 2021 Pulse of the American Worker Survey shows that:
26% of workers planning to leave their employers after the pandemic
72% say the pandemic caused them to rethink their skill sets
Over 50% of job seekers have sought out new training and skills during the pandemic
While you can’t change the way that people respond to a post-pandemic environment, you can take action to avoid the loss of valuable skills and experience in your workforce. Organizations with a people analytics solution like Visier can better determine what’s behind employees’ decision to leave, and what they can do to retain their talent.
Why is it challenging to determine why employees resign?
It can be difficult to know where to start, as each business area will have their own challenges that will need to be tackled differently. You first need to know your business priorities and focus on areas that have the most impact on the business.
Then, there’s your data. Do you have the right data and enough information to uncover the answers you need? You might have trouble gaining access to this information if your organization doesn’t currently have processes in place to collect and share it.
And once you have that, the cleanliness of your data may be one more hurdle to overcome. We recommend not allowing this to hold you back while taking the necessary steps to drive initiatives forward. There are many techniques and tools, including people analytics solutions, that can identify dirty data so you can work towards cleansing it.
How Visier helps you find out why employees leave
Visier makes it possible to look at your overall turnover rate, and how it’s broken down by exit type: resignation, involuntary turnover, and retirement. Next, you can use Visier to see how turnover is trending and look for patterns over time. For example, are employees leaving after bonuses are paid? You could also break down the resignation rate by manager or location.
Once you identify high turnover in specific areas, keeping in mind your business priorities, you want to understand what’s driving turnover so you can put an action plan in place. Visier has a powerful tool that can help called the Drivers chart. This shows the groups and attributes in your organization that have the greatest influence in driving the resignation rate up or down and will help you discover which groups to focus on to make the largest business impact.
Drivers of Resignation Rate
You’ll also want to look at performance to see the rate of regrettable turnover. If you see that those with poor performance are leaving, you could uncover opportunities to improve your quality of hire. If your top talent is leaving and you’re tracking exit reasons, what do they say? Did they note something about the organization, like compensation or an issue with the culture?
Sabre partnered with Visier to predict which top talent had more than a 15% chance of moving on to another company–a list of nearly 220 employees. The analysis also showed that voluntary turnover was highest in technical roles, like software development, and concentrated in Krakow, Poland, where demand for that specific talent is high. Using this information, they put a plan in place that reduced regrettable attrition from 9% to 7.5%.
Using a people analytics solution like Visier helps you make the most of the data you have and find the causes of employees exiting. Gaining the ability to analyze this data gives you more context behind turnover, and what needs to change to keep the talent that exists in your organization.
Read more on using people analytics to find out why employees exit:
Get Outsmart content straight to your inbox
Subscribe to the People Insights Monthly newsletter for actionable insights and stories.Subscribe now
Never miss a story! Get the People Insights Monthly.
Subscribe today by entering your e-mail address to get insights and stories delivered to your inbox.