Reasons for Attrition
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Reasons for Attrition
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Major reasons for Attrition in organizations. Be aware and bring it to minimize the same.
Employee turnover is expensive. While some turnover can be expected, poor management can cause the normal turnover to climb to an excessive level.
Employee turnover can cost an organization 33 percent of an employee’s total compensation, including wages and benefits. The impact, however, is not only financial; it also adversely affects employee morale. Although hard to quantify, poor morale results in a domino effect that negatively impacts efficiency and effectiveness.
Obviously, it’s important for organizations to reduce turnover rates. However, in order to reduce these rates, organizations must first understand the main reasons employees leave for other positions. Good people don’t leave good organizations—they leave poor managers!