Retention Predictor Identifies Employees Who Are "Flight Risks"
Ultimate Software tool gives employers insight into employee performance, intentions
Some retailers are now using software that gives human resources professionals and managers the ability to forecast an employee’s intent to remain with an organization and identify employees who need development. The insight-driven tool called the UltiPro Retention Predictor was developed by Ultimate Software.
“Business leaders across all industries recognize that retention of key talent is crucial to success, and finding ways to retain and engage critical employees is a recurring challenge,” said Adam Rogers, chief technology officer and senior vice president at Ultimate Software, a company which helps customers manage their workforce through technologies that cover the full range of human capital management. Ultimate, established in 1990, has more than 2,700 customers, including Adobe Systems Incorporated, Bloomin’ Brands, Culligan International, Major League Baseball, Pep Boys, Texas Rangers Baseball, and Texas Roadhouse.
The UltiPro Retention Predictor helps leaders forecast potential employee “flight risks” so they can proactively intervene if needed, and build programs that foster long-term employee relationships. The predictor uses an algorithm powered by 50 key HR, payroll, and employment-related indicators and forecasts the probability that individuals will stay with an organization for the next year.
“With the UltiPro Retention Predictor, companies can keep high performers, identify employees who may need development, and generally ensure their workforce is healthy,” Rogers said.
The software recently won a Brandon Hall Group for Excellence in the Best Advance in a Unique Talent Technology category. In addition to Ultimate Software, other Excellence Awards winners in 2014 included American Express, Dell Inc., Procter & Gamble, Verizon Wireless, Harvard Business School Publishing, and Blackboard.
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