Last year at the ERE Recruiting Conference in Las Vegas, I presented a session about how analytics such as those associated with a Flight Risk model can help drive a comprehensive Human Resources strategy. Though Flight Risk models are a relatively new concept for HR, monitoring the “degree to which a top-performing leader or employee appears ready to leave current employment, presumably for a better opportunity elsewhere”(Bersin by Deloitte) on a regular basis can lead to more effective Talent Acquisition.
These models could include a tremendous amount of data such as information on tenure, performance, home location relative to office, gender, age, manager, and more. Realistically, companies neither have the data that they want nor need for these models as they could include limitless variables. However, if a company does have the ability to pull together a flight risk model, it could prove to be invaluable for the Talent Acquisition team – especially the TA Leader.
Flight Risk Models help to assess where future attrition may occur within the organization. Not only do flight models provide insights into individual attrition but also attrition at a department level. Consider the potential for recruiters to proactively source and develop a pipeline of candidates for roles that have a high chance of opening in the next 6-12 months – particularly with positions where it may take months just to find a slate of candidates. If recruiters can begin to develop talent in advance, then start times on new employees could drop dramatically. The additional lead time also increases the chances of finding a more diverse and qualified slate of candidates.
As a word of caution – flight risk models are never 100% accurate. If you decide to source candidates based on potential attrition, then you may run the risk of not having an open role for that new person. There is also the potential risk of an employee seeing his or her job posted.
These models also help to develop a deeper understanding of the sources of their highest (and lowest) performing employees. By utilizing Flight Risk Model data, you can determine the best sources for strong employees. With this knowledge, the TA leader can tweak the interviewing and assessment process to screen candidates against these successful traits and sources. Unsure of what makes one employee more successful than another? Interview their managers to find out their traits and examine at their resumes to discover their background. On the flip side, if a negative correlation presents itself, you can limit sourcing new employees from where you have hired low performers in the past.
As you can probably tell, I am a huge fan of using data to increase job performance and effectiveness. In future posts, I will try to share more ideas on how Flight risk model information can help in other HR functions beyond Talent Acquisition.