hiQ vs. Restless Bandit

Daily, significant time and financial investment are allocated to making decisions regarding the recruitment, development, and retention of talent. hiQ Labs supports Chief Human Resource Officers and business leaders in enhancing engagement with the workforce they have diligently attracted and cultivated. Our cutting-edge platform serves as a predictive tool, allowing you to detect skill shortages or potential turnover threats ahead of time. It provides valuable insights into where to focus your retention initiatives, facilitating an in-depth examination of attrition risks throughout the organization—from large business divisions to particular employee cohorts, and down to individual team members. By utilizing predictive indicators of turnover risk, you can take proactive steps to lessen the effects of costly and regrettable employee departures. Moreover, you can refine your retention strategies by understanding the external elements that influence attrition rates. With hiQ's comprehensive actions library available, you are equipped to design tailored strategies aimed at successfully retaining your top talent, thus ensuring their ongoing success within your company. This method not only boosts employee happiness but also fortifies the overall stability of the workforce, ultimately contributing to the organization's long-term success. Furthermore, by investing in employee retention, organizations can cultivate a more resilient and engaged workforce, leading to increased productivity and a more positive workplace culture.

Restless Bandit collects and evaluates millions of resumes and job listings annually to develop its sophisticated Talent Rediscovery models, serving as an essential tool for analyzing the intricacies of the labor market. This dataset mainly encompasses data related to white-collar jobs, with the current study drawing upon 19,258,407 distinct resumes. To effectively classify these resumes into industry categories, the data science team at Restless Bandit utilized a vector space model to assess similarities among companies based on the resumes they received. By analyzing countless documents, observable trends emerge that reveal which firms typically seek out comparable talent. For example, Eli Lilly is known to regularly recruit individuals from a specific group of companies, which includes Merck and Novartis. Organizations that demonstrate similar hiring tendencies are grouped into particular industry segments for further analysis. Although there is a wealth of information available to evaluate diversity metrics for each company within the Global 2000, this report will primarily focus on industry segments to maintain the confidentiality of corporate data. This targeted methodology not only preserves the anonymity of individual companies but also enhances the understanding of broader trends across various industries. Ultimately, this approach seeks to balance the need for insightful analysis with the protection of sensitive information.