Ceridian Introduces Dayforce HCM Predictive Analytics
Data-driven insights help companies identify flight risks and retain high-performing employees
Ceridian, a global human capital management technology company, introduces Predictive Analytics, the latest addition to Dayforce HCM – a single application for human capital management. This new capability applies machine learning algorithms to employee data, giving managers and executives a new tool to evaluate employee flight risk and identify and address reasons contributing to employee turnover.
“Predictive Analytics analyzes an organization’s data to identify the factors that have the biggest influence on employee flight risk. Managers are now able to address potential issues before they become unmanageable,” said Eric Schuster, Vice President Product Management, Ceridian. “By analyzing data for each team member segmented by employee performance, managers can pay particular attention to those employees who are of greatest concern – high performers with high flight risk. For teams aiming to achieve excellence, these analytics give managers a critical advantage and necessary insight.”
Interactive visual dashboards enable managers to examine the details of at-risk employees. Users can see important information on each employee such as job title, performance percentile, tenure, flight risk and the estimated cost to replace. Predictive Analytics is built on an employer’s single Dayforce HCM database which gives it the unique ability to identify the primary drivers of voluntary turnover and empowers managers to take action. Users can triage issues linked to flight risk and improve response time to retention problems within their organization.
“Flight risk data is updated on a daily basis, allowing managers to make real-time calculations and act quickly to retain top talent,” said Deb LaMere, Vice President, Employee Experience, Ceridian. “It also helps identify trends within the entire organization so retention issues can more accurately be managed at the executive level.”
Dayforce HCM is a cloud solution for Payroll, Benefits, Workforce Management, Human Resources, Talent Management, Document Management, and Analytics. Built on a single database with one rule engine, Dayforce HCM enables organizations to find and hire the right people, process pay, manage benefits enrollment, maintain HR records, and schedule staff while monitoring compliance throughout the employee lifecycle. Predictive Analytics allows flight-risk data to be embedded throughout the application for easy access and at no additional cost.
“Dayforce HCM has consistently ranked as the leading Leader in our Human Capital Management Value Matrix,” says Brent Skinner, Principal Analyst at Nucleus Research. “This is thanks to Ceridian’s commitment to innovation as they bring full HCM into a single application, with a single dataset governed by a single rules engine. The addition of Predictive Analytics will give Dayforce users the ability to unlock the power of that single dataset for all of HCM. We expect that users will find this new functionality furthering their ability lower costs, boost productivity, improve employee engagement, and reduce turnover.”
For more information about Predictive Analytics and the entire Dayforce HCM platform, visit www.ceridian.ca.