Darwinbox’s datadriven solutions for HR challenges

OVER a third of employees are likely considering their next career change within the year. The EY 2023 Work Reimagined Survey reveals a troubling trend: 34 percent of employees will likely leave their current jobs within 12 months. This presents a significant challenge for businesses.

High turnover has severe consequences: productivity declines sharply, recruitment costs soar, and persistent team disruption creates instability. But what if the secret to retaining your best people lies within your existing data? Darwinbox’s innovative solutions might hold the answer.

During a recent conversation, Jayant Paleti, the co-founder of Darwinbox — a leading provider of cloud-based human capital management, stressed the significance of analytics in addressing this major concern. By examining diverse data, such as employee engagement levels and performance indices, Darwinbox’s AI is adept at identifying patterns suggesting an elevated risk of staff attrition.

Paleti believes that companies can address employee issues quickly by paying attention to these early signs. Adopting this tactic empowers corporations to spot and respond to signs of employee unrest in its infancy, thereby dodging the financial blow that comes with a high employee attrition rate. With this understanding, Darwinbox has developed AI-driven tools to tackle these challenges.

Darwinbox’s AI identifies employees at risk of leaving and encourages internal career advancement within the company. It promotes internal mobility by matching employees with the right internal opportunities. That means more chances for growth without having to look elsewhere.

Promoting internal growth boosts team cohesion and employee retention and reduces the hustle to headhunt external top-notch performers. Employers can use Darwinbox’s data analysis to make strategic decisions concerning significant elements like remuneration and employee perks.

Hiring processes become more efficient. Companies can spot and retain their star players by pinpointing essential workforce sections. As Paleti clarified, the unique element of Darwinbox’s AI is its utilization of clustering methodologies — these permit it to sort employees into distinctive segments, but not haphazardly. Instead, employees are grouped based on common traits, behaviors, or risks.

Addressing bias in AI is a critical concern for Darwinbox. Paleti explained that the company puts a lot of effort into keeping their HR evaluations and suggestions unbiased, ensuring fairness.

Darwinbox recognizes how critical it is to remove bias from AI recommendations. To achieve this, they train their AI with diverse datasets that mirror the variety found in workforces around the world.

Darwinbox understands the importance of eliminating bias from AI recommendations. They use diverse training datasets that reflect the demographics of global workforces. This ensures their AI models are trained on inclusive data. Additionally, the company proactively monitors its systems to address potential biases that might unintentionally arise.

Of course, with powerful AI tools comes great responsibility. Data privacy as a core principle is prioritized. Darwinbox is committed to responsible and ethical AI development.

“We adhere to strict data protection regulations like the General Data Protection Regulation (GDPR) and prioritize transparency in how employee data is used,” states Paleti.

The company avoids using public Large Language Models (LLMs) like ChatGPT. They prefer using secure native LLMs that are custom-trained with authentic, anonymized datasets.

“Darwinbox has built one of the Industry’s only HR-based LLMs named Prose (People Relational and Organizational Semantic Engine), which is trained on various-based LLMs of anonymized HR data such as Resumes, Job Descriptions, Policy Documents, Service Data, Feedback, Goal Descriptions, etc.,” Paleti elaborated.

Paleti emphasized that making data-driven decisions can improve HR operations. He clarified how Darwinbox’s analytics dashboards give easy-to-understand reports and visuals. The dashboard provides more than just data — it delivers the insights managers need, when they need them. Questions like “Why is my attrition rising in the Southeast Asia region?” are answered with contextual drill-downs, visualizations, and guided journeys to help enable better root cause analysis. This means real-time access to the targeted information that drives success, from pinpointing the ideal candidate to unlocking individual potential within your existing team.

The job market moves fast, and companies that cling to outdated retention strategies could get left behind. Darwinbox’s data-driven solutions provide a transformative way to tackle HR issues, especially regarding reducing employee turnover. By adopting a databased strategy, we can unlock a future where employee engagement is strong and organizations thrive.

Read the complete interview on my tech blog: techiegadgets.com.