By: Pasha Roberts, Chief Scientist & Co-founder, Talent Analytics, Corp.
Much has been written about customer churn – predicting who, when, and why customers will stop buying, and how (or whether) to intervene. Employee churn is quite similar. Businesses want to predict who, when, and why employees will terminate, and if it makes sense to intervening will deliver good uplift effects.
In many ways, it is smarter to focus inward on employees. For one thing, it is far easier for a company to change their internal operations or even the behavior of an employee, than that of a customer. As will be seen, employee churn can be extraordinarily expensive, and incremental improvements will give big results.