India's largest platform and marketplace for AI & Analytics leaders & professionals

Sign in

India's largest platform and marketplace for AI & Analytics leaders & professionals

3AI Digital Library

Attrition Analytics

3AI September 5, 2020

Leading retirement services provider

Problem Statement

  • A leading retirement services wanted to predict the attrition of its company for defined business units and defined bands of its employees
  • The company was facing high attrition across its mid-level ranks and risks losing its key trained talent pool to other players in the industry
  • Key employee attrition was a pain point and expectation was to build predictive models to understand attrition at different bands based on the internal and external factors

Analytics Led Approach

  • Data cleansing and missing value imputation
  • Time series data set created for modeling (quarterly
  • Research on external variables influencing attrition
  • Some of factors evaluated are like performance ratings, salary attitudes, designation, state wage index, resident status, department/BU etc.
  • Explore various classification statistical techniques for an appropriate prediction model. (Decision trees, logistic and Support Vector Machine)

Business Impact

exploratory analysis on the data, where key factors impacting attrition were identified.

  • A model was developed and delivered to predict the attrition over the next few quarters.
  • A sensitivity (what if analysis) model was delivered for the consumption of the HR team to predict / forecast the attrition rate based on different internal (performance rating, bonus payouts, etc.) and external environmental factors (unemployment rate, stock index etc.)

Critical Success Factors

  • Close involvement of stake holders during model development and validation phase
  • HR team uses the model to predict the attrition rate of its key employees based on the different internal and environmental factors

    3AI Trending Articles

  • AI propels progress for the differently abled

    AI or Artificial Intelligence is a Data Science Function that trains the computers to learn through experiences and perform tasks at cognitive levels adjusting to certain inputs. Artificial Intelligence is a field of Data Science and over the years it has emerged as a significant function across all businesses. AI or Artificial Intelligence is a […]

  • Google investigates ethical AI team member over sensitive data handling

    Google’s diversity efforts have been questioned by employees and adds to years of angst, including several resignations and firings in the AI department. Alphabet Inc’s Google is investigating a member of its ethical AI team and has locked the corporate account linked to that person after finding that thousands of files were retrieved from its […]

  • Blockchain mustn’t get blocked: Regulate but do not ban Bitcoin

    The government’s proposed bill to ban cryptocurrency could deal a blow to India’s tech credentials . Since I started writing this column on technology a couple of years ago, two things have been eminently predictable. One is Elon Musk, the richest man in the world now, doing unpredictable things: Boring tunnels, implanting chips in pigs’ […]

  • European Union to revamp Cybersecurity rules

    EU last year recorded around 450 cyber incidents involving European infrastructure, notably in the financial and energy sectors, and the pandemic has highlighted Europe’s deep dependence on the internet and exposed security weaknesses.  The European Union unveiled Wednesday plans to revamp the 27-nation bloc’s dated cybersecurity rules, just days after data on a new coronavirus vaccine was unlawfully accessed in […]