Human resource executives and business leaders combat the Great Resignation, burnout and quiet quitting with new talent retention dashboards that provide real-time, actionable employee analytics and insights
Praisidio, the leader in talent retention management, today announced advancements to its Talent Retention Management Platform, new real-time retention dashboards empowering human resource executives and business leaders with actionable employee analytics and insights. Praisidio’s real-time dashboards monitor employee talent and risk by individual or group, predicting employee attrition before it happens, all while aggregating and visualizing insights in a single, unified control plane. With Praisidio, HR and business unit leaders can develop targeted retention strategies for employees at risk with a single click of a button.
Praisidio Talent Retention Management Platform with new real-time retention dashboards is immediately available. See it in action at the 2022 HR Tech Pitchfest or stop by booth 514AO to learn more from the Praisidio team, September 13-16, 2022.
Combatting the Great Resignation and Quiet Quitting
U.S. businesses are losing a trillion dollars each year due to voluntary employee turnover, with the cost of replacing an individual employee ranging from one-half to two times the employee’s annual salary. Add to that a highly competitive labor market, the continuing Great Resignation, and the new threat of quiet quitting, and it’s clear companies can’t afford to lose any more valuable team members—for the sake of business morale and performance—let alone the organization’s bottom line.
In the face of these increasing pressures, business leaders must treat employee retention as a strategic initiative within the organization. However, the truth is, many businesses currently lack the alignment and commitment required—from business function leaders and HR teams alike—to successfully compete for and retain all-star employees. As the pace of business grows faster than ever, an employee can rapidly swing from being engaged to disengaged. Leaders need proactive, real-time insights to respond quickly to the personalized and urgent needs of employees. Actionable retention “playbooks” with talent goals and tracked outcomes are now a necessity to facilitate a timely response.
“Praisidio’s real-time dashboards provide essential data to assist with our employee retention actions across the organization,” said Amelia Merrill, SVP of People at Guardant Health. “They have not only helped us identify actionable steps to improve engagement and reduce burnout, but given us greater insights into our organization as a whole and how we can create an environment that allows our employees to maximize their productivity and length of tenure.”
From Gut to Data, Enabling Better Talent Management with Actionable Insights
Built within Praisidio’s AI software-as-a-service (SaaS) Talent Retention Management Platform, real-time dashboards use an enterprise’s public data and metadata, alongside advanced AI, to help HR managers visualize, understand and act on concerning trends affecting teams and individual employees. Ultimately, this helps HR executives and managers do a better job of managing talent risk and attrition, fostering a more stimulating, enjoyable and fruitful work experience.
The real-time dashboard functionality integrates with more than 40 enterprise systems, including enterprise-class HR platforms such as Workday, SAP, Oracle, ADP and BambooHR, populating tens of thousands of talent risk parameters. These parameters allow AI models to calculate overall risk, quantifying it in several key categories, including workload, compensation, connection and engagement, growth as well as overall development and recognition.
Real-time dashboards aggregate and visualize these metrics in one single, unified plane, monitor talent risks by individual or group, and predict employee attrition before it happens. Machine learning then prescribes the best course of action for each employee, allowing organizations to create targeted retention plans at the click of a button. These plans address sources of common employee attrition, helping to:
- Reduce burnout: Lessen the burden of excessive meetings, increase uninterrupted focus time and improve productivity.
- Address bias: Identify if any segments of your workforce are overworked, under-resourced or underpaid, and track against Diversity, Equity and Inclusion (DEI) parameters.
- Boost engagement: Improve how well your managers connect with their employees by monitoring the frequency of employee-manager one-on-one meetings.
- Eliminate stagnation: See employees at risk of attrition from being kept in the same role too long, and make a plan to prepare them for promotion.
“For today’s employees, work-life balance is everything. They want to build careers where they are valued, seen, and given the opportunity to do their best work,” said Ben Eubanks, Chief Research Officer of Lighthouse Research & Advisory. “Praisidio’s dashboard functionality allows organizations to do just that: enabling them to understand their employees’ full stories—and support them as individuals. In fact, our most recent research shows that having a supportive manager can drive a 2-4x increase in employee retention.”
Armed with real-time data and insights, HR and executive leaders across an organization can now partner to mount a coordinated response to employee attrition, materially improving employee retention in the enterprise. There is an opportunity to combat the Great Resignation and quiet quitting with the right tools and partner in place.
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