Employee retention is one of the most important performance indicators for any company. It is an important metric that helps organizations determine how effective they are at retaining employees. In this article, we will look at how you can use CloudApper Custom BI Dashboards to calculate employee retention in UKG over a specific time period.
Employee retention is an important aspect of human resource management. It provides information about the effectiveness of an organization’s human resource policies and practices. Furthermore, it aids in identifying the reasons why employees leave and developing retention strategies. CloudApper Custom BI Dashboards can assist you in tracking employee retention metrics and making data-driven decisions to increase employee retention.
Before we get into how to calculate employee retention with CloudApper Custom BI Dashboards, let’s first define it and why it’s important.
What exactly is employee retention?
Employee retention refers to an organization’s ability to keep its employees for a set period of time. It is the process of keeping employees happy and engaged in their work, which improves productivity and organizational success. Employee retention is critical for organizational success because it lowers recruitment costs, maintains workforce stability, and boosts employee morale.
What Is the Importance of Employee Retention?
Employee retention is critical to any organization’s long-term success. It is an important factor in ensuring a stable and productive workforce. Employee turnover can have a negative impact on an organization’s financial performance, productivity, and morale. Organizations with high retention rates, on the other hand, have a more engaged and motivated workforce, resulting in increased productivity and profitability.
How Can CloudApper Custom BI Dashboards Be Used to Calculate Employee Retention?
CloudApper non tecnical tool is fully capable of synching and analyzing UKG data on employee retention with Custom BI Dashboards. These dashboards can easily calculate employee retention over a given time period and gain insight into the factors that influence employee retention. Here’s how we do it for our clients:
Step 1: Determine the Calculation Period
The first step in calculating employee retention is to specify the time period to be studied. This could be a particular month, quarter, or year. After you’ve determined the time frame, we can begin collecting data for analysis.
Step 2: Gather Data from UKG
The following step is to gather data from UKG. This information should include the number of employees who joined and left the company during the time period you specify. We can obtain this information from UKG by utilizing CloudApper’s data integration tools.
Step 3: Design a Unique BI Dashboard
The next step is to use CloudApper’s drag-and-drop dashboard builder to create a custom BI dashboard. We can include charts that show the total number of employees who joined and left the company during the time period you specify. We can also include charts that show the percentage of employees who left the company and the reasons for their departure or any other analytics you desire based on the imported data.
Step 4: Examine the Data
After we’ve created your own BI dashboard, you can begin analyzing the data. Examine the data for trends and patterns that can assist you in identifying the factors that influence employee retention. For example, you may discover that employees are leaving the organization due to low pay or a lack of opportunities for advancement. You can develop strategies to improve employee retention by identifying these factors.
5th Step: Take Action
Based on your findings, you can take steps to increase employee retention. For example, you may need to improve the work environment, offer better compensation packages, or provide more training and development opportunities. You can improve employee retention rates and create a more stable and productive workforce by taking action to address the factors that affect employee retention.
Overall, CloudApper’s custom BI dashboards offer UKG customers a simple, low-cost solution for calculating employee retention rates. Businesses can gain valuable insights into their workforce and make data-driven decisions to improve retention and employee satisfaction by leveraging the power of UKG’s data and the flexibility of CloudApper’s custom dashboards.