What type of insights does Infor HR provide for retention strategies?

Infor HR provides valuable insights for retention strategies primarily through turnover statistics and employee feedback. Understanding turnover statistics allows organizations to identify patterns and trends related to employee departures, which can signal underlying issues within the workplace. By analyzing this data, HR can pinpoint departments or demographic groups that may be at higher risk of turnover, enabling targeted interventions to improve retention.

Employee feedback is another crucial element of retention strategies. It provides direct insights into employee satisfaction, engagement, and areas for improvement. By collecting and analyzing feedback, organizations can understand the factors contributing to employee decisions to stay or leave, allowing them to create targeted strategies to enhance the employee experience and foster a healthier workplace culture.

In contrast, while market trends and salary benchmarks are important for competitive positioning in compensation, they do not provide direct insights into why employees may choose to leave the organization. Departmental budgets and financial forecasts are more focused on financial performance and resource allocation rather than on employee retention. Employee demographics and satisfaction ratings, while relevant, do not encompass the comprehensive insights that turnover statistics and direct feedback offer regarding the retention strategies needed to maintain talent. Therefore, the most effective approach to understand and improve retention strategies lies in analyzing turnover statistics along with employee feedback.