Case Study: Experian is using data to predict staff resignations Written by Kevin Dickens Thursday 27 September 2018 Share Share to LinkedIn Share to Facebook Share via email Experian uses data about its workforce to help managers make better business decisions Experian’s journey in Workforce Analytics began about four years ago when we made a conscious decision to use data to deliver insights that could help us to make better business decisions. Our approach to this transformation has been in three main stages: Stage One: get the basics right Stage one was focused on getting the basics right. We created a set of definitions for all of our metrics. For example, we decided what counts as ‘headcount’, and which contract termination reasons are considered ‘voluntary’. This was key to achieving consistent analysis across all regions. It was also very clear at the beginning that the team was doing a lot of reporting for reporting’s sake. So, through a thorough audit of all reporting activities and the implementation of our Workforce Analytics system Visier, we have been able to reduce the time spent on scheduled reporting by almost 70%. We no longer provide reports that aren’t needed, and we encourage users to self-serve information where possible. Stage Two: use data to generate predictions Stage two saw us begin to use data to boost our predictive capabilities. We now have models to predict voluntary staff turnover across almost every country we operate in. This has helped bring voluntary departures down by more than three per cent and we conservatively estimate it has saved Experian around $14m a year. Stage three: experiment with new data analysis methods Stage three is where we are today, and our work will be ongoing. We have launched our People Analytics Innovation Lab to push the boundaries of analytics of our employee data; develop new insights and solutions; and commercialise this work where possible. One of our most exciting projects is our work with Organisational Network Analysis. We believe ONA can help answer many people-related challenges by identifying key influencers and understanding the inclusivity culture within teams. It can also speed up return on investment in M&A scenarios by spotting the key influencers in the company being acquired who should be engaged with to help integrate the cultures. Throughout our journey, we have constantly reviewed our strengths and areas for improvement. Experian will be sharing its story at Big Data Week London. Kevin Dickens Kevin is a global workforce insights manager for Experian. Like this article? Why not share it. Share to LinkedIn Share to Facebook Share via email Topic: How independents can win against encroaching rivals Independent consultants must differentiate themselves from competition, such as positioning as trusted specialists Read article Article Topic: Empowering leadership through somatic trauma-informed coaching: my CMI journey Caron Sanders-Crook FCMI shares how studying for a CMI Level 7 Diploma deepened her approach to compassionate leadership Read article Article Topic: “Leadership needs to be held to professional standards” Dr Ayham Ammora FCMI is running for the role of chancellor at the University of Cambridge Read article Article Topic: “You need a bit of edge”: five leadership lessons from BT’s group chief executive Allison Kirkby, group chief executive of BT, shares a tale of hard work, setbacks and pushing beyond her comfort zone… Read article Article Case Study We’re really proud of all of the managers, employers and training providers who choose to work with CMI, so here we’ve arranged a selection of their success stories. Members See More CMI Members have access to thousands of online learning and CPD resources. Learn more about our membership benefits Join The Community CMI offers a variety of flexible membership solutions, tailored to your needs. Find out more and get involved in the CMI community today.