MOUNTAIN VIEW, Calif., Sept. 20, 2023 (GLOBE NEWSWIRE) -- BairesDev®, a leading nearshore software outsourcing company, developed an innovative machine learning tool that proactively identifies attrition risk among its talent, enabling preventative action and reducing its turnover by 52% in H1 2023 compared to H1 2022. The company plans to use this new tool to conduct academic research on the root causes of attrition risk in the tech industry.
As the turnover rate for software developers nearly reaches 60% in the market, tech firms have struggled to retain talent, acting reactively, not proactively, in order to keep their top professionals. BairesDev's new machine-learning algorithm is a game-changer as it has reduced the turnover rate to 12%, +40% below industry averages.
"BairesDev aims to create an ecosystem where professionals grow with a continuous improvement mindset. Our machine learning tool enables us to foster open and impactful interactions between our teams, taking a proactive approach to talent development," says Nacho de Marco, CEO and co-founder at BairesDev. "Our talent sets us apart. Despite a volatile talent market, we proactively re-engaged 90% of the cases detected by the tool. With 97% of BairesDev's talent scoring their work environment as positive, project productivity and client satisfaction keep improving."
The machine-learning tool is rooted in talent-related variables, including career path, compensation, and client feedback. After identifying at-risk talent, the people experience team initiates crucial conversations, creating opportunities for meaningful engagement and solutions focused on talent satisfaction. The unicorn's commitment to its workforce is further exemplified by its recent accolades, being ranked in the Top 5% of companies with 1,000-5,000 employees on Comparably for Overall Company Culture Score.
BairesDev is known for hiring the top 1% of talent from over one million yearly applications and continues to foster innovation, leveraging the latest technology to create impactful software solutions. Learn more about the work the company does at bairesdev.com.
About BairesDev
BairesDev is a strategic partner to hundreds of global brands on their software development journey. The company's approach centers on understanding before action, offering tailored solutions: dedicated teams, outsourced projects, staff augmentation, and more. With over a decade of experience, BairesDev has collaborated with startups, Fortune Global 500 companies, and industry disruptors worldwide, alongside the top 1% of tech talent from the Americas and the Caribbean.
Media contact:
press@bairesdev.com
