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Attrition Meaning
Attrition Meaning
What is Attrition?
A reduction in the number of employees through retirement, resignation or death is called Attrition.Attrition is also called total turn over or wastage rate.
Attrition Rate
The rate of shrinkage in size or number of employees is known as Attrition rate. It is usually expressed in percentage.
Number of employee separations-involuntary separations X 100 ------------------------------------------------------------------------------------*Average employee count (*Avg. employee count = January month strength + December month strength)
Cost of Attrition's
Cost of advertising for new positions the cost and time involved in interviews and background checks, costs associated with search firms or placement agencies, relocation costs of new employees Training and orientation costs
Consequences of Attrition
Attrition normally brings decreased productivity. People leave causing others to work harder.
Diagnosing Attrition
Commonly Used Techniques in the Industry
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