People Analytics in the Era of Big Data

CHAPTER 11 Using Retention Analytics to Protect Your Most Valuable Asset

Amel Arhab

Senior Manager at Deloitte Consulting, LLP

John Houston

Principal at Deloitte Consulting, LLP

Your number one customers are your people. Look after employees first and then customers last.

—Ian Hutchinson

In today’s complex, global, and extremely competitive world, talent is top of mind for most CEOs. While concerned about acquiring and retaining the best and brightest, executives are also worried about nurturing, engaging, and advancing their star performers. As simpler jobs get offshored and the demand for highly skilled individuals continues to rise, competition for the critical remaining pool of talent is fierce. Additionally, millennials bring up another set of challenges by setting new employee preferences for health and environment, purpose and community, and hard work with balanced lifestyles. As a result, the talent puzzle seems to be as multifaceted as it has even been.

Perhaps it is not surprising that retention and attrition may be the biggest challenges of all. In a recent Deloitte survey, over 70 percent of respondents expressed “high” or “very high” levels of concern about retaining critical talent over the next 12 months, along with 66 percent who had the same concern about retaining high-potential talent.¹ Robin Erickson, PhD, Vice President of Talent Acquisition Research at Bersin, reminds us that employee retention is a top concern of most business and HR leaders now that ...