STRATEGY
Let’s Predict Who’s Going to Quit
How Can Leaders use Data In HR The Right Way?
When Singapore became independent in 1965, DBS was founded three years later as a local bank before serving the region in the 1980s.
As ASEAN’s “Most Valuable Bank Brand” for the 7th consecutive year, the S$12bn brand built a complex, intricate algorithm that predicts attrition rates from 600 data points within the 11000-strong organization.
Using data to predict employee attrition is nothing new: there a plethora of startups offering software and Mercer’s Global Talent Trends Study 2019 revealed that using artificial intelligence in predicting employees’ risk of leaving remains on the wishlist of many companies, even though the technology is still nascent. HR professionals are involving analytics and data are a lot more over the past few years.
According to LinkedIn, that will continue to grow.
It is an uphill struggle to continue preserving competitive advantages and protecting intellectual capital — retaining the best talents is always the top of many lists of HR challenges.
Data scientists have been creating machine learning models and algorithms for a long time: the only variables are the industry and the purpose. Some companies use data to…
