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Archana Venkat

Chennai March 29 If only management knew when and why each employee might quit, managing attrition would be a piece of cake.

Business analytics firm Fractal Analytics has come out with a software, which it claims can answer these questions and many others including how many employees are likely to chuck their jobs.

"We use extensive data mining and business intelligence to come up with these reports," said Mr R.K. Reddy, Director, EMEA and India, Fractal Analytics. Based on employee information, the `Employee Retainer' software churns out reports indicating which employees are likely to quit, when, and possible reasons for the same. Parameters considered for generating such an attrition report include each employee's demographics, past experience, recruitment-stage performance, training schedule and performance, on-floor performance, shift pattern, pay progression, peer group composition, rewards and reprimands.

The final report is an attrition score for each employee indicating his/her probability of attrition in future along with reasons for the same. Once a high attrition risk group has been identified, the human resources (HR) team can devise a suitable retention strategy.

Accuracy

How accurate is the report? "About 75 per cent when 1,000 employees are analysed. But accuracy improves when more data is analysed, so large organisations will benefit more from this solution," Mr Reddy said through e-mail. Some of Fractal's Indian clients include ICICI Bank, Reliance Communications, Citibank and Tata Teleservices. Mr Reddy said large IT firms had also expressed interested in the solution.

On the likely cost savings, he said it was difficult to say as figures varied across companies.

However, he shared the example of how a large IT firm with yearly attrition at 80 per cent had seen a drop to 52 per cent in just two months of implementing the solution. According to HR consultants, it costs a company 3-6 months of an employee's salary to replace him and this does not include the company's investment on his training.

Fractal's solution can be integrated with a company's existing HR solution and it takes around eight weeks to come up with the initial attrition report for 1,000 employees. Subsequent reports can be generated weekly, monthly or as per requirement.

Fractal Analytics also has solutions to help consumer banks, telcos, insurance and BPO companies manage customer risk and profitability. It has offices in New York, Singapore and Mumbai.

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