Your boss may already know you're about to quit
There seem to be winners and losers on both sides of many big data questions. For example: On one hand, big data can help reduce employee turnover for a business. On the other it may "out you" as a likely seeker of greener pastures.
Venture Beat previewed a new study yesterday by Evolv and the Center for Human Resources at the Wharton School of the University of Pennsylvania showing big data can be used to predict when employees may be about to quit.
Since 2007, Evolv has helped customers like Xerox source talent and boost workplace productivity. It has an in-house data science team that uses data such as termination history and performance data in combination with economic data, such as gas prices and nationwide unemployment rates, to determine the likelihood of separation.
It will use its partnership with Wharton to refine their algorithms and attack more complex challenges. Together, the companies will work to identify major factors behind high attrition rates.
Other useful insights have been derived, such as the surprising notion that people with criminal records may make better employees, an employee's success can be tracked and predicted, and that two is the maximum number of social media accounts high performers have.
Human resource organizations have already begun to rely on big data techniques to determine merit raises and other employee evaluations. A study by Mercer and human-resources professional association WorldatWork--of 560 organizations--found that 95 percent of companies rely on benchmarking pay, while only 43 percent use some form of predictive modeling.
- see Venture Beat article