Factors Affecting Attrition and Strategies of Retention
FACTORS AFFECTING ATTRITION AND STRATEGIES OF RETENTION
Why Do People leave Jobs?
There are various factors that affect an individual’s decision to leave a job. While an employee’s leaving the job is considered attrition by one organization, it is looked at as talent acquisition by the new organization and to the individual it means a career move, economic growth and enhanced quality of life/convenience or closeness to family etc. Hence, what is a problem for one may be an opportunity for another.
This short note examines the key reasons for attrition and explores ‘what enhances retention’ as well as outlines some of the factors that can control attrition. It also touches up those factors that are beyond ones control.
Factors Affecting Attrition and Retention
There are various reasons why people leave their current job. These reasons may vary from individual to individual and when data are collected from a large number of individuals leaving or who have left an organization, some consistencies may be observed-providing more insights as to why people leave in large numbers. If these are controllable-one attempts to control. If these are not within the control of the organization, the organization should prepare itself for managing attrition.
Managing attrition does not mean reducing attrition only. It could also mean bringing down the negative affects of attrition and increasing the positive affects of attrition. To increase the positive effects of attrition and reduce the negative affects, appropriate retention and capacity utilization or talent utilization tactics should be used. In one of the organizations, attrition has been used as brand building opportunity. Thus an organization may say that we provide talent for other companies or they may say that if you join us your brand value goes up and you get good jobs etc.
Today when a person leaves it causes a lot of disturbances in the organization. If it is a small organization the disturbance
Why Do People leave Jobs?
There are various factors that affect an individual’s decision to leave a job. While an employee’s leaving the job is considered attrition by one organization, it is looked at as talent acquisition by the new organization and to the individual it means a career move, economic growth and enhanced quality of life/convenience or closeness to family etc. Hence, what is a problem for one may be an opportunity for another.
This short note examines the key reasons for attrition and explores ‘what enhances retention’ as well as outlines some of the factors that can control attrition. It also touches up those factors that are beyond ones control.
Factors Affecting Attrition and Retention
There are various reasons why people leave their current job. These reasons may vary from individual to individual and when data are collected from a large number of individuals leaving or who have left an organization, some consistencies may be observed-providing more insights as to why people leave in large numbers. If these are controllable-one attempts to control. If these are not within the control of the organization, the organization should prepare itself for managing attrition.
Managing attrition does not mean reducing attrition only. It could also mean bringing down the negative affects of attrition and increasing the positive affects of attrition. To increase the positive effects of attrition and reduce the negative affects, appropriate retention and capacity utilization or talent utilization tactics should be used. In one of the organizations, attrition has been used as brand building opportunity. Thus an organization may say that we provide talent for other companies or they may say that if you join us your brand value goes up and you get good jobs etc.
Today when a person leaves it causes a lot of disturbances in the organization. If it is a small organization the disturbance