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Attrition Rate BPO SECTOR

Attrition Rate BPO SECTOR

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Published by Pinku Yadav

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Published by: Pinku Yadav on Apr 08, 2012
Copyright:Attribution Non-commercial

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04/20/2014

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INTRODUCTIONABOUT THE TOPIC
 
ANALYSIS OF ATTRITION TRENDS
What is Attrition?
Attrition has been a major concern for most of the companies in the currentcompetitive scenario.The word Attrition means, a reduction in the number of employees throughresignation or separation at the employees will. Retirement, VRS andemployee leaving due to end of contract are not considered as attrition.Attrition rate is the rate of shrinkage in size or number 
.
It is themathematical representation of the attrition in a particular Organization nor an institution.Attrition leads to dual loss to an Organization:Firstly, company loses on a talent and thus costs incurred on them are awaste.Secondly, it employees a new employee and thus needs to incur costson them thus the following costs:
A. Recruitment cost
 
The cost to the business when hiring new employees includes the followingsix factors plus 10 percent for incidentals such as background screening:Time spent on sourcing replacementTime spent on recruitment and selectionTravel expenses, if anyRe-location costs, if any & Training/ramp-up timeBackground/reference screeningRecruitment cost for the new recruit to replace the employee leaving
B. Training and development cost
To estimate the training and development costs, the expenses incurred ontraining of the employee who is leaving should be taken as well as that to beincurred to train the new employee is also to be considered. To estimate thecost of training and developing new employees, cost of new hires must betaken into consideration. This will mean direct and indirect costs, and can belargely classified under the following heads:
Training materials
Technology
Trainers’ Time
C .Administration cost
They include:

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