Predictive People Analytics module, a collaboration between Elmo Software and the University of Technology, Sydney, provides businesses a combination of artificial data intelligence and machine learning to help human resources and payroll professionals understand an organisation’s workforce and predict which positions are prone to vacancy.
Businesses can now gain invaluable workforce insights to help prevent top quality employees from resigning through a development “that combines artificial intelligence and machine learning with human resources data.”
Elmo Software’s Predictive People Analytics module provides employers with fresh insights regarding the company’s workforce, specifically “employee flight risk.”
Organisations can be informed which department, location, and position may be most likely to be vacated when employees resign.
This development is a collaboration between Elmo Software and the University of Technology, Sydney (UTS), which sought to provide HR and payroll professionals with a deeper understanding of their workforce, so that they can make “more informed business decisions, at faster pace.”
According to Elmo Software, the Predictive People Analytics anonymises, aggregates, and analyses historical data stored in an organisation’s Elmo product suite to shape predictions of what may happen in the future.
The data is derived “from an organisation’s deep pools of workplace data found in other Elmo modules that automate learning, performance management, and leave.”
This new feature within the module is “the first phase of a suite of new machine learning developments” that “seek to provide data-driven insights and visualisations into predicting employee behaviour.”
The release of this new feature is timely for organisations with flight-risk posing a core challenge as a “skills shortage and the increasing costs to hire new talent puts more pressure.”
An average cost to recruit new talent is $10,500 takes 33.3 days, a recent research by Elmo Software found. A third of Australian workers are burned out and a quarter have recently considered a career change, the Elmo Employee Sentiment Report claims.
Danny Lessem, Elmo Software CEO and co-founder, says the new module “is a critical tool for HR professionals looking to retain their top talent.”
We’re told: “The biggest challenges businesses face is retaining good talent and protecting them from burn-out while still encouraging them to achieve their potential.”
“Unfortunately, this is a task that HR professionals have had to perform with gut-instinct instead of data-driven insights. While gut-instinct is important, it doesn’t come close to the value that can be derived from data”, claims Lessem.
He says: “Predictive People Analytics module harnesses technology to make sense of the deep pools of data that HR departments have access to so HR professionals can step in and help retain good talent before it’s too late.”
“Skills shortage truly impacts the labour market. It is more important than ever that employers do everything they can to keep talent onboard”, he suggests.
Lessem concludes: “This latest module enhancement is another feather in the cap of Elmo’s solution that helps businesses gain deeper insights into their workforce through data that’s immersed within Elmo’s integrated HR tech solution.”
GRAND OPENING OF THE ITWIRE SHOP
The much awaited iTWire Shop is now open to our readers.
Visit the iTWire Shop, a leading destination for stylish accessories, gear & gadgets, lifestyle products and everyday portable office essentials, drones, zoom lenses for smartphones, software and online training.
PLUS Big Brands include: Apple, Lenovo, LG, Samsung, Sennheiser and many more.
Products available for any country.
We hope you enjoy and find value in the much anticipated iTWire Shop.
ENTER THE SHOP NOW!
INTRODUCING ITWIRE TV
iTWire TV offers a unique value to the Tech Sector by providing a range of video interviews, news, views and reviews, and also provides the opportunity for vendors to promote your company and your marketing messages.
We work with you to develop the message and conduct the interview or product review in a safe and collaborative way. Unlike other Tech YouTube channels, we create a story around your message and post that on the homepage of ITWire, linking to your message.
In addition, your interview post message can be displayed in up to 7 different post displays on our the iTWire.com site to drive traffic and readers to your video content and downloads. This can be a significant Lead Generation opportunity for your business.
We also provide 3 videos in one recording/sitting if you require so that you have a series of videos to promote to your customers. Your sales team can add your emails to sales collateral and to the footer of their sales and marketing emails.
See the latest in Tech News, Views, Interviews, Reviews, Product Promos and Events. Plus funny videos from our readers and customers.
SEE WHAT’S ON ITWIRE TV NOW!