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There are more employees to start and end their careers in a single organization. But in the case of most employees, either the company forces them to move, or the employees prefer to move from the organization they work in, which is quite a common case that can occur in all kinds of organizations.
What is attrition? When an employee prefers to leave a company due to voluntary resignation, layoffs, deaths, diseases, etc., then this circumstance is called employee attrition. Employee attrition meaning in HR terms will be equivalent to the number of separations in a company.
There are several factors that can affect attrition. Some of the causes of employee attrition are due to low unemployment. If the industry has low unemployment rates, the organization finds it difficult to replace the employees for the vacancy position. In this case, reducing the hiring standards or leaving the position vacant are some of the possible ways an organization can do this.
Due to a toxic workplace, employee attrition may occur. If your work environment or business is not a good place to work or go ahead, you find it difficult to fill the position that is left vacant. If there is a higher level of attrition, you should investigate certain areas to find a solution. You should check for online reviews or investigate the employees who were in the exit interviews. The attrition rate meaning can be explained in the following way.
Define attrition rate –Attrition rate, meaning in HR, denotes the rate at which the employees leave the organization. It can be calculated as the (# of employees leaving (per month)/ Average employees) x 100.