The role of AI in predicting employee performance and retention

Many companies are facing a significant retention problem. The best way to address this issue is by finding out why employees are leaving, then addressing those pain points in your organization. One way to get that information is by using artificial intelligence (AI) tools to predict employee performance and retention.

It's no secret that employee retention can be a real challenge. Many companies currently have similar approaches to improving retention by increasing base pay and providing training. However, these methods are becoming obsolete as employees’ priorities are changing and they are increasingly looking for opportunities to grow elsewhere.

The best way to find out what's working and what isn't is by asking the people who've made the decision to leave -- your existing employees. If you have an HR team, it should be easy for them to collect this information through exit surveys that are sent out when someone leaves. The responses can then be analyzed and used as a benchmark for future employee retention efforts.

The primary reason people stay at or leave a company is the relationship they have with their manager. A survey conducted by Glassdoor found that 90% of employees who left their jobs cite "lack of communication and collaboration" as one of the main reasons for leaving. For millennials, this number rises to 95%.

There are many factors that can contribute to this breakdown in communication, but one common theme is the lack of trust between employees and managers. This breakdown can also occur when there is a lack of respect, appreciation, involvement and recognition from either party.

One of the most common methods for addressing retention is through providing more employee training. In some cases, this may work, but in many cases, it does not. For example, according to data from Dale Carnegie Training, 53% of companies say losing top talent has negatively impacted business operations. This means that something must be fundamentally wrong with how managers are handling their teams.

One way companies can improve the employee experience is through investing in artificial intelligence (AI), which is now being used for everything from customer service chatbots to analyzing data from employee performance reviews. AI allows businesses to analyze data more efficiently than humans can, making it an ideal solution for streamlining HR processes such as recruitment, or in this case, performance management.

Today's workforce has become increasingly mobile and versatile. There are three main reasons companies are losing top talent:

The first reason is that employees are looking for more than just a paycheck. They want to work at companies where they can grow as professionals and learn new skills. The second reason is that employees want to be heard by their managers, but most don't feel like they get the feedback they need to improve performance. Finally, many companies don't offer training programs that address the specific needs of millennials entering the workforce today.

In the end employees tend to prefer organizations that can benefit them financially, listen to them and make them feel important on a more personal basis. Better communication and better use of professional methods and tools like AI are central to the solution.

Erdem Gezer , CTO , NBS Human Resources