Industry
CPG
Region
Global
Solution
ESAT Analyzer
Context
Irrespective of their industry, employee attrition has been a recurring problem for global enterprises. This issue stems from a multitude of factors, many of which go unaddressed by companies. Common reasons include poor compensation, subpar benefits, insufficient paid time off, anxieties about job security, etc. Given the varied and subjective nature of these reasons, companies face a formidable challenge in precisely discerning the root causes of employee attrition and implementing targeted strategies to mitigate them.
Problem statement
A global beverage manufacturer was grappling with employee attrition across multiple branches, with an annual attrition rate between 5% – 15% across zones for a total of approximately 20,000 employees. The HR team was unable to gauge and effectively act upon cases of employee attrition ahead of time as existing feedback loops were inefficient and risk assessments were highly subjective. As a result, any interventions to retain employees were undertaken too late and were often ineffective in making a difference and preventing attrition.
Impact
- Reduced attrition by 5% by targeting at-risk employees and conducting “Stay Interviews”
- Conducted more than 100 “Stay Interviews” within a month