When a company’s employee diminishes after a period in which some individuals leave or depart and are not replaced, attrition happens. A hiring freeze refers to a reduction in employees due to attrition, which is considered a less disruptive way to trim the workforce and lower payroll than layoffs.
WHAT REALLY IS EMPLOYEE ATTRITION?
An organization’s lifeblood is its people. Companies require personnel who are physically capable of performing their duties. However, every business, large or small, must face the reality that movement within the workforce and teams is unavoidable. Employees are hired and fired regularly.
They enter a job, learn various parts and gain experience, and then decide to leave if better possibilities present themselves. This does not always suggest that the business has some negative patterns. In some circumstances, though, a company may have intrinsic flaws that force employees to depart. Attrition in HR could become a significant issue in this situation.
However, employee attrition is defined as when employees leave a company faster than new employees are hired, which is sometimes beyond the control of the employers. Take, for example, a company that establishes a new office to serve as a customer service hub and requires all customer service executives to work from there. However, a number of them are unable to relocate and hence choose to leave the company. This is a classic example of attrition.
COMING TO REASONS
This refers to managerial problems. No employee wants to work for a tyrannical employer or manager, or a coworker who constantly gets them into trouble. A job that exposes people to humiliation reduces their productivity—to the point where they quit their job outright. Every employee wants to feel like they belong and are valued at work, and any lack of these qualities leads them to leave.
Lack of career development opportunities
Employees nowadays, particularly millennials, want feedback from their superiors and managers. Furthermore, they are always on the lookout for possibilities to advance their careers to satisfy their need for knowledge and new abilities. Employees become irritated when an organization fails to meet their demands, and decide to leave. Nobody wants to work in a place where there is no future developments or learning opportunity.
An organization’s growth and prosperity are driven by its leadership. Instability in one area can have a cascading effect throughout the business, throwing the entire dynamic out of whack. Employees will find no reason to stay in the organization’s management fail to encourage them and provide them with the possibilities they seek. They would rather hunt for a better job with a bigger salary.
Work is below expectation
Initial job descriptions are sometimes at odds with what employees are expected to do on the job. What they were promised at the job interview is not what they find out on their first day at work. Employees may lose faith in the organization as a result of this behavior. They have no motivation to stay on the job when trust is lost.
Too much work
Due to increased economic strain, a business may demand one individual to do the work of two employees at times. Restructuring the organization or downsizing owing to losses are examples of scenarios when this can occur. When this happens, employees must pay a high price in terms of their health and personal lives. They must work longer hours and give up crucial time with their families and social groups. Today’s millennials are perceived as bearing the brunt of rising workloads and stress levels, prompting them to seek out better job options that would allow them to find a better balance between their personal and professional life.
This is happening. And is time employers woke up and dealt with this problem. And that is what we are here for, to help you through this.
THINGS YOU DO TO SOLVE EMPLOYEE ATTRITION
Consider a friendly approach with employees: You should be authoritative when you have to be, but otherwise you can adopt a more buddy approach with them. Build a bond with them. The buddy system assists new employees in developing strong work habits and quickly becoming a member of the organization. Employees that are more satisfied on the job are more likely to stay with your organization for a longer period of time.
Give feedback and small rewards: the one thing that keeps every employee motivated is feedback and rewards. It pushes them to go forward, to work harder. When they receive feedback from you, good or bad, they feel noticed. They know that you give attention to what they are doing and actually care enough to give feedback at all. When you reward them or acknowledge them for small achievements or crossing milestones, they crave it even more. They will work harder just to hear that again from you.
Find out the root cause: Use the information you obtain on the reasons for employee turnover to evaluate what aspects of your workplace need to be improved or altered. You’ll need to adjust or improve things as soon as possible if you have a hostile manager, a terrible physical work environment, or an uncompetitive wage structure. If you discover that new workers are just not a good fit for the work that needs to be done, speak with the person in charge of recruitment at your company.