How can we use AI to predict turnover in our workforce?

The HR folks are now saying that AI-based “predictive attrition” tools could help predict who is going to quit their job in the very near future.

These kinds of tools analyze data points such as public salary information, turnover rates in a specific field or role, economic trends, and more to forecast attrition rates with 95% accuracy — at least in the case of IBM’s Watson supercomputer. And there are a lot of specific tools in development.

Various statistical and machine learning algorithms are desgned to construct the predictive models. For instance, ‘classification’ models catalog the employees based on risk to leave the company; whereas ‘non-linear’ regression model gives the ‘probability of attritrion’ when the outcomes are less well defined.

Leaders, for their part, are excited about the idea of capitalizing on AI technology to help reduce labor costs in terms of turnover. However, we’re not quite there yet.

As a recruiter, I look forward to seeing how these types of tools will enhance hiring and retention over the next decade. However, there will never be any replacement for good old-fashioned human connection.

Where are you in these algorithms or on your career regression model? Near the end? Give me a shout and let’s work together to find a great next fit! Don’t worry – I won’t make you submit a bunch of data points!

#warfortalent #ai #workforcemanagement #career