AI Cracks The Employee Retention Code For Small And Midsize Businesses

Employee turnover is a costly problem, especially for small and midsize businesses. For every position left vacant, the time and cost associated with identifying, acquiring, and training the right person can lessen a business' impact on what's truly critical to its survival – revenue growth and brand expansion. To reverse the downward spiral of poor employee retention, businesses must first automate processes and streamline everyday tasks, according to the IDC report, "HR Transformation and the Digital Journey: How Small and Medium-Sized Businesses Can Deliver Strategic HR," sponsored by SAP SuccessFactors. Doing so improves retention by allowing employees to feel more fulfilled at work as they spend less time on mundane tasks to focus on using their strengths for more strategic tasks and building up their skill sets. For decades, an overwhelming flood of technologies, tools, and processes have promised these fundamental capabilities. While some of them may have their merits, a vast majority are not supported by a level of intelligence that addresses the needs (and expectations) of an increasingly digitally empowered workforce.