Flight Risk Analytics provides a gauge of relative risk for your employees based on your Engagement Survey data.
Employee turnover creates enormous costs for many organizations, so it's not surprising that many of our customers cite reducing regrettable turnover as one of their top aspirations. Flight Risk Analytics represents a new capability in the fight against regrettable turnover.
We’ve designed Flight Risk Analytics to help you answer three critical questions for your organization:
How to View Flight Risk
Your organization must have conducted an Engagement Survey with Quantum Workplace and must be able to import exit and hire dates into Quantum Workplace to use Flight Risk. Please reach out to your Customer Success Manager at any time for more information.
What is our Flight Risk?
At the top of your Flight Risk Analytics dashboard, you'll see the percentage of your employee population that our model has classified as having a low, medium, and high flight risk. This represents relative flight risk such that high risk employees are at the greatest risk for leaving your organization and low risk employees are at the lowest risk. That said, not all of your employees in the elevated risk group will leave, and some of your low risk employees will still leave your organization.
How is Flight Risk Calculated?
Flight Risk Analytics uses machine learning to detect patterns in your terminated employees' Engagement Survey data and uses those patterns to predict flight risk among current employees.
Essentially, our model looks for patterns in your terminated employees' responses to your Engagement Survey data to identify common drivers of turnover. Then, it searches for those patterns within your remaining employees' responses to assess whether employees are at a relatively high, average, or low risk for terminating. The model requires a certain amount of data to make a prediction, so not every employee will be assigned to a risk group.
Currently, Flight Risk Analytics is based on Engagement Survey data and your start and exit dates in Quantum Workplace. We are actively working on expanding our Flight Risk model to include data from across our platform (e.g. Pulse Surveys, Feedback, 1-on-1s, Goals, and Recognition). This will allow us to expand the scope and quality of the Flight Risk Analytics predictions.
Where is our Flight Risk Concentrated?
You'll be able to use the Slice by function to see how flight risk varies across your demographics.
To begin, click the Slice By button and select a demographic. Each demographic group (slice) is color coded to represent its relative turnover risk, with the darkest red representing the highest relative risk. The size of the box for each demographic group represents the number of employees in that demographic group for which we could predict flight risk. So, the largest boxes in the darkest shades of red represent your biggest areas of risk.
You can click any box (representing a demographic group) to see a breakout of the percentage of employees in that demographic that are high, average, and low risk for retention.
You can also toggle from the Graph View to the Table View to see an alternate view of your Flight Risk for each slice of your selected Demographic:
What is Driving our Flight Risk? (COMING SOON)
COMING SOON: For the particular part of the employee population that you're viewing in Flight Risk, you will see a list of Top Flight Risk Insights. These Insights can help you identify what might be driving the flight risk within this subset of the population and uncover possible interventions.