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Attrition refers to the process where the workforce is reduced gradually and intentionally through employee resignation and retirement. The workforce is not replaced by hiring other employees

The term Attrition is also used to explain the drop in the number of customers and clients of an organization

What is Employee Attrition?

Employee Attrition is a process that entails a gradual decline of employees because of retirement, resignation, termination or even personal health.

Pros

Reduces cost during difficult times

Cons

Decreases the size of the workforce and the burden has to be picked up by the remaining employees

Which Jobs Have a Higher Attrition Rate?

Some industries do not have attrition whereas some include high numbers
IT industry has the highest attrition at 13.2%

What is the Attrition Rate?

Attrition Rate or Churn Rate refers to employee turnover. It is a metric for measuring the employees or customers that the organization has lost over a period and have not been replaced.

Calculate Attrition Rate by

Attrition Rate = Number of Attritions / Average Number of Employees * 100

Common Causes of Employee Attrition

Lack of proper training
Lack of good management
Less chance of growth and advancement
Inaccurate job profiles
Looking for better compensation, more responsibilities, and good working conditions

Positive vs Negative Attrition

Positive attrition happens when employees with poor performance resign or are fired whereas negative attrition occurs when employees with good performance leave the firm

What is Customer Attrition?

Customer Attrition refers to the decrease in the consumer base of an organization

Customer Attrition occurs when the products and services provided by the company are unable to keep with the changing times and the firm starts losing its customers.

Employee Attrition Examples

1. Tech companies like e-learning, IT and Software, computer software, and computer games
2. Uber
3. Dropbox
4. Tesla
5. Amazon
6. Apple

This video is on Attrition and it has the following sub-topics.

Time Stamps

0:00 Introduction to Attrition
00:21 Definition of Attrition
00:38 What is Employee Attrition?
01:18 Which jobs have a Higher Attrition Rate?
01:43 What is Attrition Rate?
02:23 Common Causes of Employee Attrition
02:44 Positive vs. Negative Attrition
03:08 What is Customer Attrition?
03:28 Employee Attrition Examples