Employees around the world are rethinking what actually ‘work’ means, how they spend time and how they’re being valued at their organisations. This has led to a significant rise in the number of people quitting their jobs citing growth, pay, stress and value as the major reasons behind leaving jobs. This has posed a serious challenge for employers to understand which employees are at the risk of leaving the company. However, thanks to cognitive intelligence, innovators are gradually coming up with technologies to predict when an employee is about to leave as well as improve employee engagement and retention. Cognitive intelligence learns by observing and studying patterns and suggests taking relevant steps basis its understanding.
How Cognitive Systems Stop Employee Departure
Due to the present age’s high workplace expectations and always-on culture, employees are often hesitant to raise concerns regarding their personal and professional priorities, workload, schedules and overall experience. With advancements in AI and cognitive intelligence, organisations are driving increasing efficiency in their processes and streamlining management with enhanced focus on data and a proactive approach.
AI and machine learning has gained an increasing focus from organisations as it involves programming computers to predict future instances using past data or experience. Similar to humans, cognitive systems are able to receive and process information using sensory inputs and language patterns. AI-based cognitive methodologies/systems help to enhance employee retention and engagement by listening to crucial friction points and complaints and understanding employee sentiments. It uses continuous feedback through employee voice tools to identify risk triggers and come up with actionable insights.
In a similar manner, machine-learning algorithms and Big Data are being used to predict which employees are about to quit. Different events are taken into consideration such as a big acquisition or change in leadership, fluctuations in stock value, news about the organisation, etc. along with specific employee data to anticipate which employees are receptive to new opportunities.
Cognitive systems also utilise inquiry methodology during exit interviews to capture valuable feedback from the employees. Usually, employees are asked more valuable and positive questions to enhance employee experience and improve business processes.
Cognitive computing can be a big asset for organisations
The inception of cognitive computing from the combination of simulated human thought processes and cognitive science can have a long-term impact on organisational performance. Gartner reported that cognitive computing is about to cause major disruption in the digital sphere unlike other technologies introduced over the past 20 years.
AI technologies like deep learning, natural language processing and machine learning are being amalgamated with descriptive and predictive analytics to deliver entirely new variants of strategic innovation, customer engagement and business transformation. Cognitive intelligence in organisations is likely to bring:
- Efficient business processes as it can quickly analyse emerging patterns, detect business opportunities and suggest actions in real-time. This leads to simplified processes, decreased risks and adaptation as per the changing circumstances.
- Implementation of robotic process automation to enhance customer experience. Since cognitive technologies provide relevant, valuable and contextual information, customers feel listened and cared for.
- Optimised performance and production by sensing and diagnosing issues to cut down unnecessary downtime in operations.
- Smarter utilisation of resources by gathering data from various sources like individuals, usage, location parameters, etc.
As technological advancements continue to increase, cognitive intelligence is occupying a major role in redefining activities that were unthinkable a few years ago. With industries waking up to this latest trend, cognitive processes are set to bring plenty of growth and innovation to organisation apart from employee retention and satisfaction.