Employees at the Highest Risk of Quitting In First Year Of Tenure, Finds New Data!! InFeedo, a company that specializes in employee experience and people analytics, assists CHROs and their teams in revealing the truth about their workplace culture and developing people-first strategy. Especially for top talent, our SaaS platform Amber combines contextual and conversational AI to assist HR professionals in controlling attrition by understanding how people truly feel and revealing the genuine mood and gaps.
According to recent statistics from inFeedo, the first year of an employee’s employment is when they are most likely to leave. More than 50% of the departing employees in 2021–2022 belonged to this category. The research also reveals that the average employee tenure, which was two years in 2020, has decreased by 20% since then.
Employee experience and people analytics company inFeedo assists CHROs and their teams in revealing the truth about their workplace culture and developing people-first strategies. With the use of its SaaS platform, Amber, HR professionals can manage attrition by knowing how employees truly feel and identifying gaps in sentiment, especially for highly skilled employees.
Employees today expect more from their organisations, forcing HR leaders to rethink employee engagement and retention strategies.
Tanmaya Jain, founder and CEO of inFeedo, said:
“We are seeing five forms of attrition – top talent attrition, newborn attrition (0 – 6 months tenure), specialty talent attrition – especially in engineering, tenured attrition, and remote employee attrition.
Amber had already noticed a rise in at-risk employees by 112% before the Great Resignation buzzword appeared in May 2021, indicating that these people are more likely to leave. Such profound perceptions improved our customers’ understanding of the concealed gaps and enabled them to take preventative measures to manage attrition throughout the Great Resignation and beyond, he continued. Additionally, according to data from the company, south-east Asia will have a 24% higher intention to leave than the rest of the world in 2022.
According to BCG, the market for HR technology received more than $12 billion in venture capital in 2021, with the cost of investment more than trebling between 2020 and 2021. In an effort to exploit this market opportunity, inFeedo is employing aggressive development strategies.
“In our final fundraising effort, the goal was to generate 6 times as much revenue in 2.5 years, and we’re on track to achieve this. We are witnessing an exponential growth in our buyer listing, Jain told ET.
The company currently works with 225 businesses, and in the upcoming 18 months, it hopes to reach 400 clients. In the ensuing 18 months, it may strive to double its current headcount of 140 people.Follow our site for daily updates.