Hi Community,
Is there a standard acceptable list to check for attrition in different sectors? How much is bad for the org. and how much is under control?
Please advise
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Employee attrition can be defined as the resignation of an employee from his company due to several reasons. These reasons could be personal or professional. These reasons could be job change, retirement, family obligation, relocation to name a few. Employee attrition becomes a matter of concern when it crosses a certain limit. Most importantly, it could lead to an absence of diversity at the workplace. Also, employee attrition can vary from organization to organization.
How is Employee Attrition Measured?
It is indeed necessary to measure employee attrition to ensure that you are not losing out on more employees that you require.
Employee attrition rate = Attrition Rate = Number of Attritions/Average Number of Employees *100.
A descriptive article on controlling attritions. Typically, most industries have average attrition rates at or between 10-15%. Any figure above this is considered problematic and the examples cited above had attrition rates that were beyond this figure.
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