SAS says it has added new predictive analysis capability to its workforce management software to assess which employees might be leaving a company, whether it is age or better economic opportunity.
The addition of advanced predictive modeling functionality to SAS Human Capital Management allows businesses to determine which employees are most likely to resign voluntarily, according to SAS.
This newly enhanced human capital management solution uses SAS’ data mining techniques to calculate groups of employees most likely to leave a specific company. It determines which organizational and common employee characteristics, such as salary, level of education and training or length of service, contribute to turnover.
Additionally, employees are ranked and assigned individual probabilities for voluntarily leaving within a specific time frame.
Armed with this insight, SAS says organizations can proactively align their workforces in support of corporate business objectives. This is increasingly important given two looming challenges, the first of which is the aging workforce.
By 2015, the U.S. Census Bureau expects the number of workers over age 55 to hit 32 million, up from 15 million in 1990. More than 40 percent of the workforce will be over 45 within five years. Compounding the problem is that fewer entrants are joining the workforce.
The second challenge is the economic rebound. Strategists at SAS say an overriding concern for HR managers is that as the economy continues improving and competitors begin hiring, it is very possible that those people most critical to their organization’s success may begin leaving.
“HR has faced challenges before, but perhaps none as significant as what could become the most severe shortage of skilled labor in history,” said Betty Silver, SAS worldwide human capital management strategist. “Organizations can align their workforces, but only if they understand where their vulnerabilities lie.”