ORLANDO, Fla.--(BUSINESS WIRE)--Workforce Logiq today announces the winners of its inaugural The Working Best Awards: Employee Retention Leaders. The new program recognizes the Fortune 100 companies with the lowest levels of workforce volatility vs. peer and national benchmarks, determined by Workforce Logiq’s predictive analytics and proven data science. The Working Best Awards program is the only AI-driven ranking for employee retention.
The Working Best Awards are based on Workforce Logiq’s Talent Retention Risk (TRR) ScoresSM which use proprietary AI models to benchmark how various factors contribute to employee volatility or stability. Workforce Logiq aggregates a billion data points monthly from forty-thousand sources – including macroeconomic trends, company-level social media and news sentiment, leadership changes, job posting trends, job tenure, and other churn indicators – to predict the likelihood of professional employees and knowledge workers being interested in external job opportunities and unsolicited recruiting messages.
Companies with low TRR ScoresSM are predicted to have the highest employee retention rates – or lowest employee churn. Workforce Logiq’s TRR Scores and data science were validated in a recent Harvard Business Review article; passive candidates identified as “most likely” to be receptive to new job opportunities were twice as receptive to unsolicited recruitment messages and 63% more likely to leave their position as compared to those who were predicted “unlikely” to be receptive.
DuPont leads the Fortune 100 in employee retention with the lowest TRR Score of 28.9, which is 39% lower than the Fortune 100 average (47.3). Honeywell International (TRR: 33.4), Lockheed Martin Corporation (TRR: 33.6), Delta Air Lines (TRR: 34.2), and Merck & Co. (TRR: 34.2) round out the top five.
Winners were determined based on their average TRR Score over the course of 2019. Organizations that had a high-risk score (TRR Scores higher than 50) at any point during the past 12 months were disqualified from winning. This year, only 12 companies in the Fortune 100 met The Working Best: Employee Retention Leaders criteria:
- DuPont de Nemours, Inc. (TRR: 28.9)
- Honeywell International Inc. (TRR: 33.4)
- Lockheed Martin Corporation (TRR: 33.6)
- Delta Air Lines, Inc. (TRR: 34.2)
- Merck & Co., Inc. (TRR: 34.2)
- Amazon.com, Inc. (TRR: 34.3)
- Microsoft Corporation (TRR: 38.4)
- Intel Corporation (TRR: 38.8)
- Best Buy Co., Inc. (TRR: 39.6)
- American Express Company (TRR: 39.8)
- Cisco Systems, Inc. (TRR: 40.5)
- The Coca-Cola Company (TRR: 41.0)
“AI-powered retention insights equip organizations to predict employee volatility and proactively take action before churn affects their business,” said Dr. Christy Whitehead, lead inventor of the TRR Score algorithm and Workforce Logiq’s Chief Data Scientist and Talent Economist.
“The 2020 Working Best winners’ high retention rate benchmarks are noteworthy in today’s hypercompetitive labor market,” said Jim Burke, CEO of Workforce Logiq. “When replacing an employee can cost about 33% of their annual salary, predictive workforce management is good for business. Strong levels of employee retention are also associated with higher engagement, satisfaction, productivity, and profitability.”
For the complete list of Employee Retention Leaders with more retention details and benchmarks, please visit here.
To learn more about Workforce Logiq’s predictive insights and how the company equips global organizations to win and retain the talent they need to grow, visit workforcelogiq.com.
About Workforce Logiq
Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services to large corporations, enables organizations to win and retain the talent they need to grow. With clients in 50+ countries, Workforce Logiq provides expert guidance, real-time and predictive analytics, and patented and award-winning technologies. Workforce Logiq’s universal sourcing solution addresses all elements of its clients’ acquisition and retention programs, including full-time (RPO), contingent (MSP), and freelance/“gig” (FMS) workers. Backed by global investment firm The Carlyle Group, the company helps clients attain greater management, performance, and financial control over their talent supply chains.
Today, Workforce Logiq is powered by more than 1,000 workforce management experts and manages 8,000 active supplier relationships and $3 billion in spend globally. Workforce Logiq is headquartered in Orlando, Florida; its European headquarters is in Stockholm, Sweden. Workforce Logiq’s portfolio of companies include AI software company ENGAGE Talent, advanced payroll provider LOKI Systems, and background screening provider Quick Search. For more information visit http://www.workforcelogiq.com, follow on Twitter @WorkforceLogiq, or connect with Workforce Logiq on LinkedIn.