Technological organizations around the world are struggling to retain their workforce. Several Indian companies are fighting the problem of attrition with leading companies such as Wipro, which announce a unique retention bonus to retain their employees.
In the midst of gloom, positive news, thanks to IBM. The technology giant has developed an artificial intelligence system to predict when he might give up his job. Yes, you heard right! A 95% accuracy is what claims nothing less than IBM CEO Ginni Rometty.
IBM’s built-in automatic machine intelligence system can predict when the employee might give up. IBM has patented this “predictive wear program”, revealed by IBM CEO Ginni Rometty.
According to Rometty, these forecasts are 95% accurate. The artificial intelligence program helped IBM save nearly $ 300 million in retention costs. The IBM CEO revealed this information at the Work Talent + HR Summit in New York. The artificial intelligence program is also able to predict when is the best time to communicate with an employee before he decides to resign.
IBM’s predictive wear program is driven by Watson. The IBM CEO did not disclose the intrinsic details of the program and assertion of the 95% accuracy range.
After implementing this technology internally, IBM has reduced its reliance on the human resources department by over 30%. IBM now wants to focus on using cutting-edge technology that can make human resource processes more efficient.
Maintaining transparency with employees is essential and one of the main reasons why the most successful employees leave the company. Companies still fail to maintain transparency and a healthy work culture. The IBM AI tool must identify individual strengths and allow managers to refer an employee to future opportunities.