Employee Attrition: Why Talent Walks and How to Keep It
Attrition is a significant phenomenon in the workplace that can have a negative impact on an organization’s performance, profitability, and morale. Attrition is defined as the rate at which employees voluntarily or involuntarily leave an organization (Sharma, 2018). Attrition can result from a variety of factors, including dissatisfaction with the organization’s culture, salary, or job responsibilities, or the decision to pursue other opportunities (Kumar & Sharma, 2020).
The negative effects of attrition can be costly to organizations. It can lead to decreased productivity, increased costs associated with recruiting and onboarding new employees, and decreased morale among remaining employees (Kumar & Sharma, 2020). Furthermore, high attrition rates can negatively affect an organization’s ability to remain competitive in the marketplace (Henderson, 2018).
Organizations can take steps to reduce attrition. These include offering competitive salaries and benefits, providing training and development opportunities, creating a positive work environment, and promoting employee engagement (Henderson, 2018; Sharma, 2018). Additionally, organizations should ensure that their recruitment and onboarding processes are effective, as this can help to reduce the rate of attrition (Kumar & Sharma, 2020).
In conclusion, attrition is a significant phenomenon that can have a negative impact on organizations. It can lead to increased costs, decreased productivity, and decreased morale among employees. Organizations should take steps to reduce attrition, including offering competitive salaries and benefits, creating a positive work environment, and ensuring that their recruitment and onboarding processes are effective.
References
Henderson, M. (2018). How to reduce employee attrition. Retrieved from https://www.forbes.com/sites/metabrown/2018/03/20/how-to-reduce-employee-attrition/#48305e4f2c47
Kumar, S., & Sharma, S. (2020). Employee attrition: Causes, effects, and strategies to reduce attrition. International Journal of Business and Management, 15(2), 1-8.
Sharma, S. (2018). How to reduce employee attrition – A review. International Journal of Scientific Research and Management, 6(7), 3156-3160.
