Wednesday, January 13, 2021
Eight companies – including three repeat winners – named Employee Retention Leaders by Workforce Logiq in second annual AI-based workforce ranking
ORLANDO, Fla. (Jan. 14 2021) ꟷ Workforce Logiq today announces the 2021 winners of The Working Best Awards: Employee Retention Leaders. The program, now in its second year, recognizes the Fortune 100 companies with the lowest levels of workforce volatility vs. peer and national benchmarks, determined by Workforce Logiq’s patented predictive analytics and data science. Cardinal Health topped the ranking with the highest employee retention rate. Three organizations – Merck, Lockheed Martin, and Best Buy – have made the list for a second consecutive year.
“The performance of this year’s Working Best winners is highly impressive given the rollercoaster impact the pandemic continues to have on the labor market. The employee volatility benchmark across the Fortune 100 is up 8% on average over last year,” said Jim Burke, Workforce Logiq’s CEO. “Our proprietary data shows employees at the eight winning companies were six times less likely to look for external job opportunities compared to those at other Fortune 100 organizations. These firms also notably outperformed in their respective industry groups, which all benefitted from the COVID-19-driven economic environment and had lower levels of employee volatility overall.”
The Working Best Awards program is the only AI-driven, data-based ranking for employee retention. The awards are based on Workforce Logiq’s Talent Retention Risk (TRR) ScoresSM which use proprietary AI models to benchmark how various factors contribute to employee volatility or stability. Workforce Logiq tracks, aggregates, and analyzes more than 2,000 events, triggers, and shocks – macroeconomic trends, leadership changes, company-level social media and news sentiment, job posting trends, and other churn indicators – from more than 1 billion data points and 40,000 sources on more than 19 million global companies, to predict the likelihood of professional and knowledge workers being receptive to unsolicited recruiting messages and external job opportunities over the next 60-90 days. The data science and its results were featured in a Harvard Business Review article.
Companies with low TRR ScoresSM are predicted to have the highest employee retention rates – or lowest employee churn. Winners of the Working Best Awards are required to have an average annual TRR Score of below 45 and no single-month score higher than 50.
This year, only eight companies in the Fortune 100 met the stringent qualifying criteria, compared to 12 in 2020. Cardinal Health, with the lowest TRR Score of 19.4, and Northrop Grumman Corporation (TRR: 22.6), secured the top two placements with TRR Scores 162% and 125% lower than the Fortune 100 average (50.89), respectively. Merck (TRR: 24.7), which jumped two spots over last year to third place, Pfizer (TRR: 24.9), and Verizon (TRR: 32.9) round out the top five.
The 2021 Working Best: Employee Retention Leaders include:
“Artificial intelligence makes it possible to predict employee volatility, project future skills gaps, and identify outside talent that is open to new opportunities. These insights – which form the core of our Working Best Awards – give organizations a significant competitive advantage when it comes to retaining and growing their workforces in hyper-uncertain times,” said Dr. Christy Petrosso, Workforce Logiq’s Chief Data Scientist and Talent Economist.
For complete details on the 2021 Employee Retention Leaders and awards program methodology, please visit here.
To learn more about Workforce Logiq’s predictive insights and how the company equips global organizations to win and retain the talent they need to grow, visit workforcelogiq.com.
About Workforce Logiq
Workforce Logiq, a global provider of AI-powered workforce intelligence, technology, and services to large corporations, enables organizations to win and retain the talent they need to grow. With clients in 50+ countries, Workforce Logiq provides expert guidance, real-time and predictive analytics, and patented and award-winning technologies. Workforce Logiq’s universal sourcing solution addresses all elements of its clients’ acquisition and retention programs, including full-time (RPO), contingent (MSP), and freelance/“gig” (FMS) workers. Backed by global investment firm The Carlyle Group, the company helps clients attain greater management, performance, and financial control over their talent supply chains.
Corporate Ink for Workforce Logiq