Today with numerous opportunities available and employees being willing to take more risks. Many individuals are willing to change their job much more frequently than before. As HR professionals we need to plan our strategy to retain our best talent. Listed below are reasons why we should reduce our attrition and some tips to reduce our attrition.
Reasons why we should reduce our attrition levels
1. Lose our best talent in the process.
2. Re-train new people
3. Past knowledge base is lost with the person leaving.
4. Gap between the person leaving and person joining. This is an unproductive time
5. Training stint time till the person picks up the processes and starts delivering.
6. Increases the recruitment costs
7. Time taken to find a new person.
Tips for reducing attrition within your organization:
1. Engage your employees
2. Understand the root cause of the attrition
3. Make a plan to identify the root cause of the attrition, action plan based on findings
4. Provide opportunities and plan your employee’s career plans.
5. Implement your plan and track if it’s working.
6. Prepare a course of course of action if your action plans not working out.
Kindly share your comments and tips in the comment box below so that other readers can benefit. Happy reading and sharing!