HiQ Labs, an analytics company, can predict how likely you are to quit your job by looking at your LinkedIn profile? If you look like a flight risk, then your boss has to think harder about your next salary review.
Insight About Who Is Going to Quit Their Job
According to a HiQ white paper, the company:
1. Scours the Web for public information (aka LinkedIn profiles) about their customers’ employees.
2. Runs that information through their proprietary algorithm.
3. Assigns flight risk scores to groups of employees and individual employees.
4. Is stunningly accurate.
Among other uses, this information lets companies turn up the dial on retention efforts for valued employees — including earlier and better (more $$$) salary reviews.
How Do We Know HiQ Uses LinkedIn Profiles?
Per a lawsuit HiQ filed against LinkedIn, they’ve been allowed to scrape public data from LinkedIn for years — but LinkedIn recently told them to stop.
HiQ says that it will go out of business without the LinkedIn data.
(8/14/17 Update: HiQ won against LinkedIn in this round. 10/14/18: The case is currently in front of the 9th Circuit.)
Who Listens to HiQ?
If you look at HiQ’s website, you’ll see an impressive list of clients and community members.
Whether these companies use HiQ’s “Keeper” product or not, they understand that the state of an employee’s LinkedIn profile predicts their flight risk. And that can impact your salary review.
HiQ’s Research Findings
Per HiQ’s research (downloadable here), if you have a professional LinkedIn profile, you are 3.7% more likely to change jobs in the next three months than the average employee. Over the course of a year, they say that’s about 15%.
If you don’t have a profile, you are 8.9% less likely than average to change jobs in the next three months, or about 35% less likely to leave in the next year.
HiQ says if you have an open profile, you’re more findable and even more likely to leave.
What Does This Mean for Your Salary Review?
If you’re in HR, or a manager, how can you use this information during salary reviews?
1. You don’t need to hire HiQ to know to look at employees’ LinkedIn profiles before conducting salary reviews.
2. If a valued employee has a good profile, then you better figure out what they’re worth on the open market and pay to keep them.
3. You might balance your budget by cutting the raises of people who don’t have profiles — because they’re less likely to leave.
There’s Salary Review Gold in Your LinkedIn Profile
Given HiQ’s research findings, is there any doubt you ought to have a good LinkedIn profile? It will make it more likely that:
1. You will find a new job — or that a new job will find you.
2. Your current employer values you appropriately.
Be sure to update your profile before your next salary review, or even better — NOW!
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Image: Fotolia/photoniko
Updated October 2018
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