Attrition

Attrition is the process of employees leaving a company. It can be caused by a variety of factors, including poor job performance, a desire for better pay or benefits, or personal issues. Attrition can have a negative impact on a company’s bottom line, as it can lead to increased costs and decreased productivity.

Here are some of the costs of attrition:

• Recruiting costs: Attrition costs include the cost of advertising, screening resumes, and interviewing candidates.
• Training costs: Attrition costs also include the cost of training new employees.
• Lost productivity: Attrition costs can also include the lost productivity of employees who leave.
• Increased workload: Attrition costs can also include the increased workload that is created when employees leave.

Here are some of the factors that can contribute to attrition:

• Poor job performance: Employees who are not meeting expectations are more likely to leave.
• Desire for better pay or benefits: Employees who are not satisfied with their pay or benefits are more likely to leave.
• Personal issues: Employees who have personal issues are more likely to leave.
• Company culture: Employees who do not feel like they fit into the company culture are more likely to leave.
• Lack of career growth: Employees who do not feel like they are being promoted are more likely to leave.

Here are some strategies to reduce attrition:

• Improve job performance: Employees who are not meeting expectations should be coached or let go.
• Offer better pay or benefits: Employees who are not satisfied with their pay or benefits should be offered competitive wages and benefits.
• Address personal issues: Employees who have personal issues should be offered support.
• Create a positive company culture: Employees who feel like they fit into the company culture are more likely to be satisfied with their jobs and less likely to leave.
• Provide career growth opportunities: Employees who do not feel like they are being promoted should be offered opportunities to grow their careers.