Out at Ultimate Software’s Conference, this week and one of the cool features that Ultimate has within UltiPro is Retention Predictor. Ultimate has done a really good job at going out and buying some great data analytics companies and implementing that tech and talent into their organization.
So, what’s Retention Prediction?
The concept is that if you analyze enough of your employee’s data points you’ll see trends that show if someone is highly likely to leave your organization as a voluntary term. As an organization, we really want and need to know data this to help retain our best performers.
UltiPro delivers a ‘score’ of each of your employees showing if someone is a flight risk based on their level of performance, so that you can filter, if you want, by high performers to low performers. The notion being, you definitely want to ‘save’ your high performers.
So, how do you save an employee that shows up as a High Risk?
UltiPro will then deliver to the manager of the employee at risk specific “Leadership Actions”. These actions are recommendations of things the manager can do to help retain this employee. Currently, UltiPro has over 50 actions built into the system, and you can build in your own actions if you want for specific things you might want to do in your organization.
Does this really work?
I spoke with multiple Ultimate Software customers who raved about how this one feature has literally changed their entire culture! One great example is Gregg Paulk, an executive at Anderson Center for Autism in New York.
Anderson had high turnover of their support staff, and also had an issue of lack of quality leadership training. Before they began using UltiPro’s Retention Predictor they had 30% turnover. In the two years since turning on the prediction feature, they’ve lowered their turnover to 15%! That’s giant! That’s real money that can now be used in other ways to better their organization and increase student care.
Anderson also saw higher engagement with their managers because they were now being able to deliver each manager specific actions to help them retain their staff, and ultimately help them become better managers of their team.
Paulk said one of the challenges in implementing anything like this is always the potential of false positives. One of your employees comes up a high flight risk, but in reality, they’re not. Yes, this can happen and will happen.
He said the key for them was to get their managers to understand how data prediction works. Yes, we’ll have a few false positives, but the majority of the data will be highly accurate and the percentage that is correct is so high, you can’t ignore what the predictions are telling your team.
What I really like about this feature is it puts HR into an immediate strategic position within the organization. It helps to make your entire team proactive and stop reacting to turnover as it happens. Your organization can finally become proactive in developing your team and leaders, which will naturally just help you drive a more dynamic culture.
Ultimate Software is not just sitting on this, their data team is off the charts brilliant and they’re already working on their next generation product called “Perception” that will add in even more unstructured data into the algorithm and make these predictions more accurate, faster.
Check it out. I was super impressed by the accuaracy and real-life outcomes of this. It’s definitely a game changer for organizations.