LONDON--(EON: Enhanced Online News)--Global analytics and advisory firm Quantzig recently completed a research project for a leading global control equipment manufacturer in order to find a solution to predict, reduce, and understand the reasons for high labour turnover.
Labour turnover is defined as the proportion of a business’s workforce that leaves as a result of attrition, dismissal, or resignation during the course of a year. A high turnover rate can set back production, disrupt operations, and cause financial and quality losses due to the loss of skilled resources and the need to train and hire new employees.
The purpose of Quantzig’s latest research project was to determine the reason for excessive labour turnover, and to find a way to predict and reduce it going forward. Quantzig’s solutions experts accomplished this by conducting an employee survey and then utilizing service analytics, rewards management, and payroll analytics to analyze and validate the reasons for this high turnover. They also developed a highly-accurate turnover prediction model. This approach allowed the client to reduce their labour turnover rate by 25%.
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Quantzig’s industrial manufacturing portfolio
The industry is heavily driven by technological innovation, scientific planning, and resource utilization strategies. There has been a significant surge in data across the value chain and areas of business. Quantzig’s industrial manufacturing data-driven solutions help companies adapt to the changing market landscape, enabling them to optimize manufacturing and business practices, increase revenue flow, and make informed business decisions.
Solutions Provided by Quantzig
- Operations Planning
- Payroll Functions
- Service Planning and Forecasting
- Learning and Development
- Employee Rewards and Benefits Administration
- And many more
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Quantzig is a global analytics and advisory firm with offices in the US, UK, Canada, China, and India. For more than 12 years, we have assisted our clients across the globe with end-to-end data modeling capabilities to leverage analytics for prudent decision making. Today, our firm consists of more than 120 clients, including 45 Fortune 500 companies. For more information on Quantizg’s services and the solutions they have provided to Fortune 500 clients across all industries, please contact us.