For everyone from frontline healthcare staff and finance employees to hospitality and factory workers, burnout and turnover have been major employer challenges for over two years. But what if you had a crystal ball that foretold which of your employee groups are at risk of burnout, depression, anxiety and intend to quit? What if it also told you how to proactively address these problem areas?
Liberty Mutual, Marriott International, Paychex, Centura Health, Ford Motor Company, Genentech and Florida Blue are doing just that. HR tech software is helping HR leaders at these companies build resilience across the organisation, provide the intelligence to take effective actions, and present the analytics to demonstrate results. At Ford, for example, managers use heat maps to identify causes for concern within certain skill teams, business units or locations within the company. This analysis is incorporated into the company’s data for integration with reporting of other claims and self-reported data.
Data analytics are being used by many forward-thinking organisations to identify patterns and risks, and ultimately utilize the results in decision-making. HR population analytics that detect workforce breakdowns and risks are providing employers with the power to take action to address burnout risk, stress and turnover intent in real time and Marriott is a prime example.
HR tech can address turnover risk
All organisations should be tracking turnover risk so they can uncover the root causes of turnover in their workforce. Reductions in turnover can translate into real cost savings. For example, replacing a lost employee is estimated to cost about 33% of their salary. Our studies found that highly resilient individuals are half as likely as less resilient employees to be considering leaving their current position in the next six months.
But what is it about resilience that helps reduce turnover? Resilience helps reduce turnover by providing a critical, concrete set of tools that can help people who are facing the stress of unprecedented change in their lives and in their workplace. Resilience training offers a practical set of self-care skills that can help us rethink, reframe and redirect unhealthy responses to stress and improve mental wellbeing.
Employers can help stem the tide of turnover by:
- Maintaining a high level of emotional support.
- Offering flexibility that permits employees to take care of their own wellbeing.
- Helping employees gain practical skills to cope with change by building resilience.
Today’s science-based resilience platforms can provide insights on behavior change skills, activities, and training materials that can enhance employee skill building. With these insights, HR leaders can deliver targeted campaigns focused on areas such as burnout, empathy, work/life balance, change-readiness, growth mindset, and purpose.
Employers that use science-based predictive analytics platforms to proactively address and successfully identify employee wellbeing and behavioral health risk as well as drive behavior change can reduce turnover, increase retention, and improve workforce productivity and performance. Data that allows you to visually pinpoint workforce burnout risk will enable you to act on these insights before it’s too late.