Reducing voluntary turnover at a global pharmaceutical company
A large global pharmaceutical company had a two-fold problem with its China market sales force. One, they had issues retaining high-performing salespeople, and two—despite existing problems with retention—they needed to double their sales force to better meet customer demand and increase market share. They had no specific retention strategy, and little insight on how to develop one.
The Deloitte workforce analytics team was called in to assist the client in developing an analytics-based predictive retention strategy and solution. Deloitte helped them build a predictive application that would give management the insight to implement targeted retention initiatives for the sales force. The team used statistical modeling and visualization software to develop a retention solution that would drive innovation and insight through the power of data.
Using three years of employee data, the team built a model to cross-reference data to predict attrition risk by individual employee. The model helped the company assign a retention score—from 1 to 100—to each sales employee in the sales function. This allowed management to effectively target both high-performing and high-risk employees, and then develop a retention strategy to keep those valuable resources from walking out the door.
The solution included visualization capabilities to analyze projected turnover by region, employee, and a series of other dimensions. For example, a manager could hover over the Shanghai location and drill down through a list of employees—and their risk scores—to determine which employees to target for retention efforts.
With insights gleaned through the application, management was able to develop an effective employee retention strategy. The approach facilitated more efficient allocation of scarce resources by identifying and expanding retention initiatives that had the highest value and impact.
Voluntary and total turnover, and loss of productivity for pivotal roles, were reduced significantly. In fact, one year later, the company had a 98% retention rate in a critical employee group.
The company also used its enhanced analytics capabilities to boost its pipeline of new talent, thus getting a leg up on their next area of focus: doubling the sales force.
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