Q&A: What’s Visier NOW & How It Solves Urgent Issues Like Turnover & Achieving Diversity Goals
Businesses are facing urgent challenges right now: employees are resigning in droves, and companies are struggling to put effective DEI programs into place despite promises to “do better.” The need for quick access to answers to help business leaders face these challenges ASAP is immense, and here are just two reasons why:
- Turnover is ridiculously expensive: According to Gallup’s 2021 State of the Global Workplace Report, replacing workers requires one-half to two times an employee’s annual salary.
- The pace toward equality is alarmingly slow: Visier research found the pay gap between underrepresented groups and white employees could take more than 25 years to close, and 78 years for Black employees in particular.
We built two new offerings that businesses can use right out of the box to predict which of their employees are most at risk of leaving, and to identify where their problem areas are when it comes to DEI.
We talked to Lino Gentile, Visier’s VP of Solution Management, who led the charge on bringing this to market to find out how Visier NOW will help to build better businesses that are diverse, equitable, and inclusive, places where people want to stay and grow their careers, making those businesses, ultimately, more successful.
Q: What is Visier NOW?
Lino Gentile, VP of Solution Management: Visier NOW is a new solution that we’re offering to address the most pressing people issues businesses face today. People are faced with working in an unprecedented world and businesses are navigating the new realities of work to avoid the threat of being left behind. For instance, there’s a resignation wave happening right now with many employees choosing to leave their jobs. Also, many companies that pledged publicly to do better work on diversity, equity, and inclusion last year are failing to make good on those promises. Both of these issues are happening right now, and so we created Visier NOW to help businesses solve these challenges, implementing a data-driven approach that will allow them to see real change.
Q: There are currently two new offerings as part of the Visier Now release. One that focuses on retention, and one that focuses on putting a diversity plan into place. What challenges are these looking to solve?
LG: Yes, so we designed two different solutions, each one will zero in on a specific business challenge. With Retention Focus, businesses will be able to predict the employees most at risk of turnover, and then access guidance on the exact initiatives needed to retain top talent.
Retention and turnover are not new workforce challenges by any means, but the current so-called “resignation wave” is causing a renewed interest in finding better ways to address retention. Retention Focus provides a data-driven approach to understanding retention risk and prioritizing opportunities. It allows managers to assess critical factors such as compensation, promotion and career development at the individual level, and organizations can track which managers have the highest retention risk so senior leaders can prioritize coaching key managers.
Q: And what about the other new solution, targeted at DEI planning?
LG: Our DEI-focused solution we’re calling Guided Diversity Planning will help businesses set goals that are both measurable and achievable. Yes, humanity is waking up and, yes, businesses have good intentions—but that’s where the momentum stops. CEOs are making pledges to drive important diversity goals, but they don’t have the data to understand how attainable those goals are. Goals without a plan are just wishes, and wishes won’t help us move forward.
For example, if you don’t realize that turnover rates among a target diversity population are higher than average, you can’t set attainable goals, and you ultimately miss out on DEI commitments to your employees, customers, stakeholders, and the world.” Guided Diversity Planning uses data and applies predictors to model the realities of the workforce dynamic. It allows you to set fact-based goals, natively collaborate with others to align on goals, and then track progress and drill down to address key individuals.
Q: Who can benefit from using Visier NOW?
LG: Of course we’d love to say everyone and, that is true of everyone at an organization where Visier NOW solutions are implemented, but we will see the greatest impact for organizations who acknowledge that their current practices aren’t as rooted in data as they’d like and are looking to solve specific problems today.
Q: What are customers currently doing to address retention issues?
LG: For retention, organizations use a number of approaches currently, although they each have their challenges:
- Engagement solutions: This approach, albeit important to collect employee sentiment and act on it, doesn’t provide the facts and the whole picture. How someone feels today doesn’t reflect the realities of their performance relative to comp ratio, as an example.
- Traditional retention strategies: Traditional retention strategies, such as retention bonuses are costly and, without the complete picture, could remain ineffective.
- Consulting engagements: This approach provides top level insights; although, doesn’t empower managers to address the unique needs of their team members and isn’t an approach you can use to monitor progress.
Q: And what about diversity planning? What isn’t working there?
LG: For diversity planning, well-intentioned organizations are taking educated guesses at diversity goals, often based on generic assumptions. The consequence ends up being that diversity assumptions are blown out of the water and, unfortunately, the talent acquisition team inherits the net sum of the difference for the CEO’s pledge, creating an impossible task for an already overburdened team.
Q: Tell us what the now in Visier NOW means?
LG: As purpose-built solutions, Visier NOW zeroes in on specific challenges with a hardened data model, built-in industry best practices, and targeted business solutions. This leaves no room for ambiguities like agreeing on where the data is, what the data means, how to use the data… Ambiguity is the last thing you want when there’s an urgent need to solve real challenges. Visier NOW was built to strip all that away and therefore deliver impact and real change now.
Q: Why has Visier chosen Guided Diversity Planning and Retention Focus as the first two solutions under Visier NOW?
LG: That’s an easy one: There’s no more pervasive problem today than retention, and there’s not a nobler mission than moving the world forward on diversity.
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