Employee Attrition/Retention Prediction (Part 1)
Ultimate Software, Paycor and Ceridian are three companies that offer HR employee attrition/retention prediction products. The products are offered as part of broader human capital management (HCM) solutions, and employee attrition/retention prediction features are usually part of a greater predictive analytics engine. Even though the products have very similar features, each has some distinctive characteristics that stand out when compared to their competition.
- Ultimate Software is the company behind UltiPro, a comprehensive human capital management (HCM) solution that features various predictive analytics, including retention prediction.
- Ultimate Software has over 6,100 customers, including Red Roof, SUBWAY, Texas Roadhouse, and even the Miami HEAT basketball team.
- The company's main competitive advantage is their "People First" motto. The company is using its own product to help create an inspiring work environment.
- This "People First" philosophy enabled Ultimate Software to become one of the top companies to work for in multiple areas.
- For example, Ultimate Software ranked #8 on Fortune magazine's 2019 list of the 100 Best Companies to Work For, and it has been on that list since 2012.
- Additionally, Ultimate Software is #1 on Fortune's 2018 Best Workplace for Millennials list and #1 on Best Workplaces in Technology list.
- UltiPro is intended for businesses that have 100 or more employees. The software can serve a variety of HR functions, including "recruiting, onboarding, payroll, benefits administration, time and attendance, learning management, and performance management."
- The part of the software which features predictive analytics is called the Workforce Intelligence tool. Workforce Intelligence allows users to gather all of UltiPro's data in one place for easy viewing and he software then visualizes employee retention predictions.
- Besides being able to predict employee retention, UltiPro can also predict which employees will become the company's top performers in the future.
- Paycor's Paycor Perform HCM solution includes predictive analytics that can be used to forecast future turnover/attrition figures.
- Paycor was founded in 1990 to provide HR and payroll technology for its customers.
- The company has been growing for 29 years, and today it has more than 30,000 customers. Inc. magazine named Paycor as one of America's fastest growing private companies.
- Paycor markets the intuitiveness and ease of use of Paycor Perform as one of its defining characteristics.
- Paycor Perform has features that cover the processes of recruiting, onboarding, payroll, benefits administration, time and attendance and learning management.
- Workforce Insights is the predictive analytics application of Paycor Perform.
- Workforce Insights allows data to be broken down by business unit or location. Additionally, the data can be visualized in a number of different ways, such as pie charts, heat maps and standard bar charts.
- Ceridian is a global software company creating HCM solutions. Ceridian serves clients of all sizes, from small businesses to large enterprises.
- The company has two main products, Dayforce and Powerpay.
- Dayforce is a cloud HCM platform. The fact that the platform is cloud-based means that data can be accessed from anywhere in the world where there is an Internet connection.
- However, that is not the only unique feature of Dayforce. It also has a solution called Quick View, which lets users type in the data they are looking for, and the software will populate a dashboard with the requested data.
- The software has a multitude of filters and view options that enable users to customize the data to see exactly the information they need. Dayforce also allows for one-click data exporting to a PowerPoint presentation.
- Even though it is not closely related to attrition prediction, Ceridian heavily promotes the TeamRelate feature of Dayforce. This tool helps team members understand each other better and it helps to build stronger relationships within a team.
- The predictive analytics application of Dayforce is called Dayforce Predictive Analytics.
- Dayforce Predictive Analytics uses machine learning algorithms to identify employees that are at risk of leaving a company.
- This predictive analytics solution matches employee flight risk with employee performance. This allows HR managers to focus on employees that are high performers with high flight risk.
- Ceridian explains that they are the only player in the market that uses a single database with just one rule engine for the entire HCM solution. This means that customers are able to utilize data distributed across the platform for each and every analysis.