The True Cost of Employee Attrition

How a Cost of Attrition Analysis helped convince conservative and highly revenue driven parts of the Executive Leadership Team, that the people agenda has significant influence on achieving ambitious growth and cost targets.

Key Takeaways

• The fundamentals of calculating the true cost of attrition
• The importance of partnering with the business and strong stakeholder management
• How to leverage a data driven approach in building strong business cases to support HR initiatives

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Bio

Louise Kragh – Rewards & Analytics Specialist, People Analytics | Trustpilot

In my daily work at Trustpilot as a People Analytics Specialist, I try to build a close relationship between a data driven approach with more traditional HR activities. I have found that HR gains more support and influence when they speak in a language more relatable to the rest of the business. Building strong business cases in support of HR initiatives that are positively correlated with employee performance, engagement or retainment can be used to justify significant changes in the wider business, whether it be processes, organizational design or resource allocation.

By leveraging the data already available in HR systems and setting up processes for gathering additional insights, it is possible to provide both simple HR metrics and more advanced analytics to gradually change the way HR professionals partner with the business. Making data accessible is important but using data to tell a story is even more essential in order to be successful with People Analytics.