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control attrition Rate
Human Resources » Attrition and Retention


Chrm Message From: suhaskhambe Total Posts: 5 Join Date: 10/10/2009
Rank: Beginner Post Date: 23/06/2010 03:43:38 Points: 25 Location: India
Dear All, Please inform the ways to control attrition rate. Best Regards, Suhas
Chrm Message From: debora Total Posts: 59 Join Date: 10/10/2009  
Rank: Executive Post Date: 12/09/2019 11:30:09 Points: 250 Location: India

 Managing things at work / Recruiting potential employees / motivating employees at work are the common things that are carried out in the Company. No matter how big and strong the company is there are a lot of problems that companies face from time to time.

One of the major problems that every company face irrespective of the work sector is the Employee Attrition. Proper strategies and ideas are required to control the growing employee attrition rate.

Income is more than just a job to a large number of people. It is a vital part of oneself. Hence, a transition of any sort in the career is the most unsettling experiences in the life. The cost of employee attrition is extremely high as a lot of effort, time and energy are invested in getting the employee on board, integration and assimilation with the values, culture, and nuances of the company. In simple words, it could be minimum 3 times the cost of annual compensation.

Regardless of such a high-cost HR Professional continue to behave as an imperative department like any other department. The role of HR is not just personnel administration or policing. Yet the expectation from HR is to play the role of strategic business partner as the success of companies depend on the human capital and leverage of their potential.

9 Tips to deal with employee attrition:

1 – Offer equitable and modest salaries
2 – Note that benefits are imperative as well
3 – Train your front-line managers, supervisors, and administrators
4 – Define the responsibilities and roles clearly
5 – Offer opportunities for adequate advancement
6 – Provide retention bonuses instead of a sign on bonuses
7 – Make someone responsible for retention
8 – Conduct survey about employee satisfaction
9 – Adopt an environment of teamwork

 
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