Analyzing Employee Turnover: Effective People Analytics Strategies

Thomas McCulloch Southern New Hampshire University HRM-360 People Analytics March 23, 2024

Memorandum To: HR Manager From: Thomas McCulloch Date: 3/23/2024 Subject: Employee Turnover This memo serves to inform of the steps I will take to investigate the unusual employee turnover we have experienced in our three bank branches. Problem Statement: In our company, our people are our greatest asset, retaining employees is essential to our business’ health. These turnovers prove to be a potential negative trend and we must understand why these employees are leaving and what we can do to mitigate future turnovers. Our recent turnover report has shown an increase of 15% in the teller position in three of our branch locations. The cost of hiring and training new employees is far greater than retaining out top talent. People Analytics: Our people analytics details organizational data surrounding our employees and is integral to making intelligent business decisions. This data enables HR to gain insights into the health of our staff and provide insights to allow us to make prudent decisions regarding people and processes. Analytics can help find qualities in our candidates that might make them a good fit for future positions. (Ranjan, 2020). Analytics have a part to play in our diversity initiatives

as well. If we want to ensure that the company is staying true to their core mission and values, then analytics is a great tool to help meet our goals. Lastly, analytics can find trends in performance, pay, overtime, and satisfaction/dissatisfaction through company surveys. This data should be utilized to improve our processes and keep us accountable. Data Types: The data essential to solving this turnover issue should come from the three branches and through our HRIS system. We need to understand if there is a common reason for the tellers leaving their position. We will also need a list of total employees at each branch at the beginning of the year and the end of the year to know exactly when the turnovers occurred and how frequently. Personal employee data should be leveraged as well. We can review the terminated employee’s tenure, record, performance rating, and exit interview to get important information on why they may have left. Lastly, if the teller position is mainly affected, we should consider a job analysis to ensure that the position is attracting the right talent.

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Citations: Ranjan, R. (2020, August 26). Council post: Using people analytics to improve your business. Forbes. https://www.forbes.com/sites/forbesbusinesscouncil/202/8/27/using-people- analytics-to-improve-your-business

HRM 360 Milestone One

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