Last blog post I discussed The Right to Disconnect and the promotion of a healthy relationship between employers and employees. This week I will be discussing a recent trend in how to hire and maintain the best people possible for your company.
While we may not have experienced “The Great Resignation” in the same magnitude as our neighbour down South, there are preventative measures and improvements that can be made by employers for retention of talent.
There has been an increase of employers using predictive analytics when hiring and maintaining employees. Employers can predict which candidates or employees are more likely to leave their positions. This is done with tools such as surveys and observing patterns of behaviour.
A popular example of predictive analytics is a stay survey/interview. Through this, employers can pre-emptively identify reasons why an employee would quit and identify creative solutions to issues that might not even exist yet. An added benefit is that employees will feel heard through the additional engagement with their workplace
The collection of data is used to predict future situations that could be costly for employers, such as high turnover. This identifies employees who are not satisfied or at risk of quitting and what can be done to improve the situation to benefit both parties.
As Inga always tells me, “Knowledge is power as a lawyer.” Well, the same concept applies for employers. Your culture and who you employ is the ultimate way to differentiate yourself from the competition. When maintaining talent, the more information the better (within the limits of privacy laws of course).
Knowing how to capitalize on new technology and the information economy, will improve an employer’s ability to create a fulfilling work environment and as a result attract and keep highly skilled employees. It will also cut costs of employee turnover and can limit legal liabilities in the long run.
Maria Grubisic, Associate Lawyer