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Featured
3 min read
Chelsea Schott
The holiday season is here! And with it comes family, food, and perhaps a little friendly debate. This year, let's set aside the usual topics that lead to eye rolls and heated discussions with Uncle Bob. Here are 3 people analytics topics to elevate the dinner table banter and avoid an argument over the turkey. 1. Overworking in a post-pandemic world Did you know that employees are clocking in three extra hours each day compared to pre-pandemic times? It's a surprising revelation that demands our attention, especially when coupled with the fact that workplace burnout is affecting a significant 41% of workers. The extended work hours may be a consequence of the blurred lines between professional and personal life in the remote work era. As you gather around the holiday table, consider discussing how businesses can strike a balance between productivity and well-being, fostering a work environment that prioritizes both. 2. Lacking engagement leads to less profits Here's a captivating statistic: highly engaged teams exhibit a remarkable 21% greater profitability. Yet, only 20% of employees report being engaged at work. So how can organizations cultivate a culture that not only satisfies employees but truly engages them? Discussing the impact of workplace culture on employee engagement can open up avenues for exploring innovative approaches to create environments where employees feel valued and motivated. 3. Staying remote has increased productivity With over 50% of employers citing increased productivity as the primary benefit of remote work, the landscape of work is undergoing a significant transformation. As you dive into that pumpkin pie, consider exploring the potential of remote work in the long run. How can organizations harness this newfound productivity without compromising collaboration and team dynamics? Delve into the dynamics of remote work and share insights on striking the right balance for sustained success. Incorporating these people analytics topics into your holiday conversations can provide a fresh perspective on the evolving nature of work. As we reflect on the challenges and opportunities of the past year, let's toast to a future where work not only sustains our livelihoods but also enriches our lives. Cheers to a Thanksgiving feast filled with engaging conversations, and happy Thanksgiving from One Model! Did Uncle Bob ask, "What in the world is people analytics"? Download this eBook for an enjoyable read that covers everything from understanding the basic foundation of people analytics to advanced HR strategy. Guaranteed to start a productive family conversation on how data can drive meaningful change across any organization.
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Featured
10 min read
Chelsea Schott
As Halloween approaches, it's time to gather 'round the virtual campfire and hear some spine-tingling tales of people analytics gone awry. Here are six not-so-fictional stories sure to scare even the bravest of HR teams. But never fear ... One Model can help you avoid these spooky situations. 1. The Deceptive AI As the clock struck midnight on the first night of budget season, Melinda, a weary HR director at a tech startup, huddled over her laptop. Shadows deepened under her eyes as she scanned the AI-generated analytics dashboard, watching as trusted employees were flagged as “at risk” or “low achievers.” With time running out, she pushed forward, blaming the strange anomalies on minor glitches. But as the night wore on, her nerves frayed. It felt as though the AI had taken on a sinister life of its own, turning top performers into liabilities and boosting unremarkable staff. Every adjustment she made only deepened the web of confusion, as the data twisted into more surreal distortions. Relentlessly, the algorithm spun its tale, indifferent to the human impact of its errors. By dawn, her team arrived, horrified to see that the AI’s deceptions had led them down a dangerous path. Layoff plans were made based on false conclusions, with a list targeting their best employees. In the aftermath, Melinda realized the cost of trusting an unchecked AI and the need for a human touch—an eerie reminder that digital solutions aren’t always what they seem. The One Model Solution: With One Model's reliable One AI Assistant, Melinda's team could have seen clearly through the data fog. Built specifically to circumvent and control for hallucinations that other AI tools suffer from, One Model dispels ghostly errors, ensuring critical decisions stay firmly rooted in truth. 2. The Phantom Data Breach Nightmare Tom, an HR director at a major retail chain, awoke to a chilling alert: thousands of employee records had been compromised. Private details—salaries, addresses, even social security numbers—were scattered in the digital winds, accessible to unknown eyes. As word spread, a sense of dread crept through the office. Employees whispered, wondering which of their secrets might surface next. Tom and his team scrambled to contain the breach, yet every solution seemed futile. Like a ghost haunting their systems, the source of the leak remained elusive, lurking just beyond their reach. As panic intensified, trust eroded, and Tom knew that restoring confidence would be no easy feat. Days blurred into nights as Tom sought answers, each failed attempt weighing heavily on him. The breach had shaken their foundation, revealing the frightening truth: Any system that is improperly secured risks being haunted by unseen vulnerabilities, putting both data and trust in jeopardy. The One Model Solution: With the most recent ISO certification, One Model offers a secure platform, prioritizing IT security and limiting security risks to safeguard your data. Your sensitive information is locked away, protected from malicious entities. 3. The Mysterious Analytics Abyss It was a tense meeting with finance leadership, and John’s people analytics team was on the spot. When asked a straightforward question about headcount, John confidently turned to their analytics platform. But as he searched, an unsettling realization struck—key insights lay hidden beneath a murky interface, unreachable and obscured in a vast sea of metrics. Frustration mounted as John sifted through shallow reports, aware that the answers were somewhere in the depths of the system, but the platform seemed intent on keeping them out of reach. Then the frightful question came from the CHRO, "Can we break these numbers down by cohorts or the recent satisfaction survey to see if there are any correlations?" No! John began to sweat. By the end of the meeting, John was left with his head hanging and nothing but vague numbers and a growing sense of unease. The analytics abyss had swallowed his insights whole, and he feared they’d invested in a tool that could never deliver the in-depth insights they needed. The One Model Solution: One Model's platform is transparent and flexible, empowering you to get urgent answers HR metrics answers fast for actionable insights to solve your business problems. It can also empower HR teams and Finance teams to have two different, yet both accurate, views of headcount. 4. The Haunted (In-)House Build At her tech startup that had grown into a robust company, Lydia had pinned her hopes on a custom-built analytics system that would satisfy her every desire. The project began with fervour, but even after two grueling years, her dream of a seamless solution had turned into a nightmare. Reports froze mid-load, she could not get important data out of her systems and into her tool, back-dated updates made recent insight vanish, and each new fix only seemed to unearth another glitch lurking in the code. As the cycle of troubleshooting dragged on, Lydia felt trapped, her team ensnared in a haunted system that consumed resources without mercy. The "tailored" solution she’d envisioned had become a never-ending horror show, draining time and morale. Each day she feared the day IT would say, "No More!" With each passing day, Lydia faced a harsh truth: the in-house build that was supposed to empower her team had instead bound them to endless repairs, a ghostly presence sapping their productivity from the shadows. The One Model Solution: One Model offers the only people analytics platform that truly combines the benefits of both buying and building, delivering a best-of-both worlds scenario. Teams get the flexibility of leveraging pre-built elements as is, or they can opt to build within the platform and configure it to fit their organization’s unique needs, on their own, or with the help of our highly-skilled team of data engineers and customer success professionals. With this choose-your-own-adventure approach, enterprises can enjoy both the simplicity of buying and the optional customisation of building. Learn more in this whitepaper. 5. The Regulatory Non-Compliance Graveyard Ben, the CHRO of a healthcare startup, trusted his new AI tool to ensure compliance. But during a surprise audit, a skeleton of missed requirements surfaced, revealing that non-compliance could cost the company up to €20M—or worse, a 4% hit to annual revenue. The AI, bought in haste to stay competitive, had failed to meet regulatory standards, leaving them exposed. The findings felt like a graveyard of compliance oversights, each one a potential pitfall that threatened the company’s reputation and future. Ben’s stomach churned as he realized the scale of the error—his trust in the AI had led them down a costly, dangerous path. Facing penalties and a potential PR crisis, Ben knew they couldn’t afford another misstep. The allure of an “untested” AI had come with a hefty price, haunting both the company and its once-trusted compliance team. The One Model Solution: One Model's robust HR data governance protocols keep you up to date on AI regulations and ensure your platform remains compliant through the approaching wave of regulatory scrutiny. No need to fear the consequences of non-compliance when you have One Model as your trusted people analytics partner. 6. The Legend of the Unguarded Data Vault Mia, the People Analytics director at a biotech firm, was horrified to discover employees were building reports and using generative AI that was giving them incorrect data. She learned that Bill had accidently gained access to salary data in their analytics system. Linda had produced a report that said there was 124K headcount and Susan a report that said there was 54K. As word spread, trust in Mia’s people analytics tool unraveled, and employees grew anxious, fearing that that no place was a safe harbor knowledge. The teams reverted back to changes based solely on "guy instinct". Dashboards with sensitive information were deleted. Mia felt the weight and mourned that she ever believed the fantastic pitch made by the people analytics software company, knowing that the lapse could haunt her team for months, if not years. Determined to repair the damage, Mia began implementing stronger safeguards. But the incident left a lasting reminder that without mechanisms to assign customized security clearance, even the most secure vaults can hold hidden backdoors, ready to unleash chaos at the worst possible moment. The One Model Solution: One Model's role-based security guarantees that only authorized personnel access sensitive data, maintaining the confidentiality and integrity of your information. One Model does what is promised and is the most trusted people analytics software. Illuminating the Path Forward No matter the pitfalls your people analytics team may face, rest assured that One Model's people analytics platform is your guiding light in the darkness. We offer a secure, transparent, flexible, and customizable platform, backed by dedicated support to navigate the most challenging HR scenarios. Don't let these spine-chilling tales haunt your dreams. Reach out for a demo and discover how we can lead you to data-driven HR success. This Halloween season, ensure your HR analytics journey is a treat, not a terrifying trick!
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Featured
7 min read
Chelsea Schott
Retention rate and turnover rate are two distinct metrics that measure employee longevity in an organization. Understanding employee retention rate is essential for businesses to succeed. How to Calculate Employee Retention Rate Retention rate refers to the percentage of the workforce who remain with the organization for a specific period of time. It measures employee stability and shows the effectiveness of a company's efforts to keep employees engaged and satisfied with their job. Healthy retention rates mean greater expertise, increased productivity, and overall success for any organization. Using data from previous trends or even running an exploratory data analysis can give insight into solutions that make everybody happier in the long run. However, before we dive into the specifics of ways to calculate, it is also important I call out that finding “a retention rate” is only the beginning. In the modern age of people analytics, we need to have a people data platform that allows us to break our data down to draw unique understandings and insights. What does it look like for various groups? What’s the difference between exempt and nonexempt workers? Are our recruiters impacting our new hire retention? To manage your employee retention rate effectively, it’s becoming increasingly important to truly understand what goes into that retention rate. Measuring this can help explain why employees choose to stay and identify key focus areas to keep it that way. So, which retention rate formula to use? Retention rates can be tricky to calculate. There are multiple formulas that can be used for the metric and multiple factors to consider when calculating. One of the most common formulas involves dividing the number of employees at the end of a period by the number of employees at the beginning of a period. A glaringly obvious problem with this formula is the fact that it’s not taking into consideration any new hires or acquisitions taking place during the time period. A company’s retention rate could easily exceed 100% if there were more hires than terminations during the period, which wouldn’t be an accurate indicator of true employee retention. And even if excluding hires from the calculation, the retention rate would be better holistically, but not necessarily as good at a more granular level when considering employees’ internal movements within the company. There are also other retention rate formulas to consider: One Model has dimensions we've created to look back and identify employees who stayed or left the company after a given number of months (typically 6 or 12) from a specific time. We can use this dimension, called Is Future Terminated, along with a headcount metric to calculate the retention rate for a historical time period. The Is Future Terminated dimension is not only helpful for calculating a retention rate, but is also used in One Model’s One AI recipe to determine the likelihood of attrition for groups of employees. Read more about One AI here! Another popular retention rate focuses solely on a company’s new hires. Like the calculation used for One AI, the new hire retention rate will determine how many of the newly hired employees stayed with the company after a certain amount of time. As with the others, this calculation is good to look at new hires in the company overall, but can be complex if you are trying to determine new hire retention rate in certain departments or positions. For example, if an employee is hired in one department and transfers to a new department after six months, but terminates only one month after being in the new department, should the retention rate metric consider the new hire’s attributes – like department – at the time of hire or at the time of termination? Check out Josh Lemoine's blog: Learning from Failure: Why Measuring New Hire Failure Rate is Great! to see even more reasons why new hire calculations are important. The best news is that at One Model, we understand different companies and industries may have different metrics and measures that best represent them. We will work with you on this to determine the best method for your organization, helping you build the metrics that tell your story. One Model makes it easy and Phil shows us how: People Analytics Uncovers Factors Affecting Employee Stability What Can You Do About It? Once you have calculated your retention rate, you then need to determine the factors affecting your employee stability — which is where people analytics comes into play. People analytics generates business benefits and allows you to collect and analyze data on employee behavior and attitudes in order to enhance employee satisfaction. For example, if the data shows that certain departments have a significantly higher retention rate, you can look for common factors, such as the level of managerial support or training the employees receive, that may be contributing to this trend. Another strategy that can improve retention is to use the data to develop targeted workforce engagement programs. People analytics can provide information on what types of benefits, training opportunities, or other incentives are most likely to engage employees and improve retention. By using this information to create targeted engagement programs, you can make the most of your resources and increase your chances of success. You can also compare differences between those who stay versus those who leave and see if there are certain programs/paths that are working better. Employee Retention Rate in the HR Revolution The HR revolution is transforming the way businesses approach employee retention. Companies are investing in new technology and data-driven approaches to help them better understand and engage with their employees. This shift is enabling organizations to develop more effective retention strategies that are tailored to the unique needs of their workforce. By tracking and improving your employee retention rate, you can reduce the costs of turnover, enhance employee satisfaction, and build a more stable, productive, and knowledgeable workforce. Embracing the employee voice and utilizing people analytics software will also help you take a more data-driven approach to retain workers and stay ahead of the competition. Let Us Show You Building Retention Dashboards Today! Request a Demo
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