Last post November 12, 2019 10:23 AM by debora. 1 repiles.
Can you help me any what is the difference between regret and non-regret
Interestingly, I'm coming across this terminology for the first time myself.
However I'll take a shot at it.
Attrition Regret :- Volunatry attrition by a high potential or key contributor with a significant impact on Succession Planning and the business of the Company.
Attrition Non-Regret:- Normal/Planned Attrition such as normal retirement, retirements on health groundse.t.c. as well as Forced Attrition at the Company's instance - RIF/Redundacies, Terminations, Dismissals
Companies are following a trend where they summarize the regret attrition of the entire company altogether, which is not a good idea. It will not benefit anyone, as it will not have any micro-level details. Instead, there should be a detailed study to see how this attrition is affecting the company.
Regret attrition refers to the voluntary attrition by highly talented and key contributors impacting the business of the company. This excludes the employees who are asked to leave the organization due to poor performance, or some other reason.
It is very important that the organization keeps a track of losing the valuable resources or high potential employees. Quite often the senior management senses when a key employee is about to quit the organization. But fails to do anything to retain that employee.
Put the relevant figures in this formula to get the regretted attrition rate-
Attrition Rate = Number of Attritions/Average Number of Employees *100.
Is there a specific number that the regretted attrition rate should not exceed?
Ideally, if the rate is 15% or more, it should be considered as alarming enough by the organisation.