Many BPO companies face challenges with talent shortages and overloaded work requirements. Among these challenges, a sudden resignation from a high-performing employee can be a huge shock, especially when there is no prior discussion. While employees are usually expected to serve a notice period, the prevailing challenge of sourcing and hiring new talent can make it difficult for operations.
Here's where AI can help! Many businesses are already using AI for workforce management, automating regular HR tasks such as payroll management, performance management, and onboarding. In recent developments, AI can now be used to predict the likelihood of an employee's resignation.
With algorithms that can quickly sort and review a huge amount of data, organizations can now be alerted that 50 employees out of a team of 500 have a 70 percent chance of leaving the company within three months. This information provides insights related to the drivers of these potential resignations and their negative impact on the business. Leadership teams can then take action, whether it's having a conversation with the predicted 50 resignations or finding ways to re-engage dissatisfied employees.
While some might consider using AI to predict resignation risks an overstep, knowing this information, for leadership, can have financial benefits. Re-engaging dissatisfied employees is often less costly than hiring someone new. For example, replacing a highly skilled voice call center employee in the Philippines could cost up to78% of their annual salary in terms of time and money spent recruiting, selecting, and training them. And while operations is busy sourcing and training new employees, a handful of team members are already on the brink of burning out, which if not addressed, may result to resignation.
Betterteem AI®customizes algorithms to individual organizations, industries, and countries, predicting common patterns and triggers that lead to unwanted employee resignations.
