HR Analytics for Retail, How Macy’s Can Protect Its Bottom Line
The Stratifyd Signals platform used AI-powered text analytics software to generate data visualization tools from over 14,000 current and former Macy’s employee reviews on Indeed.com. Macy’s is the 15th largest retailer in the United States and employs nearly 158,000 people across 728 department stores in the United States, Puerto Rico, Hawaii, and Guam. The people analytics provided by Stratifyd Signals created a clear picture of employee satisfaction to help the company effect greater change in company policy and keep more of their employees at work.
The results revealed five key areas, that determined whether employees did or didn’t stay with the company.
Benefits & Compensation scored 3.09 out of 5 stars with a focus on health benefits, paid time off, and salary concerns.
Work-Life Balance scored 3.56 out of 5 stars, looking at flexibility of hours, workload requirements, and life occurrence consideration.
Culture Rating scored 3.55 out of 5 stars, including personal relationships between coworkers, between employees and management, as well as overall work environment.
Job Security & Advancement scored 3.22 out of 5 stars, including layoff concerns, promotion frequency & availability, as well as standards of performance evaluation.
Upper Management: scored 3.36 out of 5 stars, including aspects regarding how upper management related to those employed below them and how changes in policy or directives from the top affected day to day work life.
Based on the results of the HR Analytics, three major reasons emerged why employees stayed or left.
For those employees who stayed with the company:
- 50% reported a very favorable work life balance as a deciding factor.
- 25% reported loyalty to their team, with sentiments indicating these employees considered their team members to be like a family.
- 25% reported that they enjoyed their flexible scheduling.
For those employees who separated from the company:
- 50% reported feeling as though there was no room for advancement and promotion, prompting them to seek opportunities elsewhere.
- 25% reported low pay as a major factor in their decision.
- 25% reported difficulties with upper management as a deciding factor to leave.
Stratifyd Signals allowed HR executives to better understand what played into employee satisfaction and take steps to protect their bottom line by enticing employees to stay. The ability to process large volumes of data from almost any source with Stratifyd Signals allowed them to create comprehensively useful visualizations to clearly see their employee’s voice.
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