CLIENT CASE STUDY - How PeopleCentriX enabled a Pharma client to uncover the root causes of new hire attrition through people analytics.
PharmaCorp, a global biopharmaceutical company operating in over 50 countries, suspected that the attrition rate of their new hires in pivotal markets and critical roles was rising. This unsettling trend threatened their effort to build a future-fit workforce. Therefore, PharmaCorp sought the expertise of PeopleCentriX to test this hypothesis, investigate the potential causes of new hire attrition, and outline mitigating actions.
To test their suspicion that new hire attrition in crucial roles was growing, and to probe the possible causes of this unsettling trend, PharmaCorp collaborated with PeopleCentriX. Our expertise in people analytics and talent management played a pivotal role in addressing this critical challenge. The challenge was twofold:
PharmaCorp collected anecdotal evidence suggesting that new hire attrition we rising in high-priority markets, impacting key talent within the organisation. But, the absence of definitive proof prevented PharmaCorp from substantiating this suspicion and deploying a data-driven intervention.
After finding statistically convincing evidence that new hire attrition was growing in pivotal markets, PharmaCorp needed to identify the key characteristics and drivers of this trend in order to design personalised interventions, thus enhancing the potential for successful retention of top talent.
PeopleCentriX developed a robust solution to address the rise in new hire attrition at PharmaCorp by using advanced data analysis.
Using advanced statistical techniques, PeopleCentriX tested the alternative hypothesis that new hire attrition in critical roles was growing. When statistically convincing evidence substantiating this hypothesis was found, PeopleCentriX proceeded to analyse the specific characteristics and drivers of new hire attrition among key talent. This allowed PharmaCorp to distinguish the unique patterns of new hire attrition in each location and business unit.
Drawing from its comprehensive data analysis, PeopleCentriX tailored specific recommendations for PharmaCorp's local HR Business Partners. These personalised suggestions were crafted to target the unique retention hurdles encountered by each individual business unit and geographical area. This approach aimed to enhance the likelihood of successful intervention in talent retention efforts.
PeopleCentriX created business value for PharmaCorp by:
PeopleCentriX's data analysis enabled local HR Business Partners at PharmaCorp to implement targeted retention strategies tailored to the challenges faced by each location and business unit. These strategies addressed the specific drivers of attrition and aimed to boost employee engagement among new hires, therefore contributing to the organisation's effort to build a future-fit workforce.
The implementation of the customised recommendations led to improved retention rates among new hires in high-priority markets and critical roles. PharmaCorp successfully addressed the factors contributing to attrition in these key areas, resulting in increased employee engagement and retention of high-potential talent. This consolidated PharmaCorp's goal to build a future-fit workforce.
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