How to Calculate Attrition, Formulas in Practice, Attrition Analysis, Attrition Rate

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How to Calculate Attrition | Attrition Formulas in Practice | Attrition Management | Employee Retention | Attrition Rate | Turnover Rate | Churn Rate | Attrition Analysis | HR Crest | Attrition Dashboard | Employee Exit | HR Manager Role in Attrition | Attrition a Concern

Best Attrition Calculation Video with Comparative Analysis on Formulas in Practice.

Attrition Calculation | Attrition Formulas in Practice | Attrition Management | Employee Retention | Attrition Rate | Turnover Rate | Churn Rate | Exit Management | Churn Management | Labour Turnover | Talent Retention | Retention Management | HR | Human Resource Management | HRD | Personnel Management | Employee Engagement | Attrition Analysis | Attrition Dashboard

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WHAT IS ATTRITION?
Attrition in human resources refers to the gradual loss of employees over time. It is basically the phenomenon of the employees leaving the company. And why employees leave...They leave due to Retirement, Resignation, Termination, Lay off, death etc. In general, relatively high attrition is problematic for companies.

ATTRITION RATE OR CHURN RATE OR TURNOVER RATE
Attrition is usually measured with a metric called attrition rate, which simply measures the no of employees moving out of the company (voluntary resigning or laid off by the company). Some call it as churn rate or turnover.

ATTRITION FORMULA
Attrition can be calculated on Monthly Quarterly or Yealry Basis as the case may be depending what you want to calculate or what your need is. Attrition can be calculated as:
(No. of employees left during the Year/Quarter/Month)
divided by
(Employees at the start of the year+Employees Joined During the Year/Quarter/Month)
Multiplied by
100. You can see the formula on the video screen.

OR

(No. of employees left during the Year/Quarter/Month)
divided by
(Average No. Of Employees during the Year/Quarter/Month)
Multiplied by
100. You can see the formula on the video screen.


REASONS OF ATTRITION
Good employees quit for many reasons. Please find below top five reasons of attrition which have also been pointed out by some recent surveys:

- One of the top most reason of attrition is Salary Salary is by far the leading cause of employee dissatisfaction.

- Limited growth opportunity in a company is the second biggest reason for employee attrition.

- Many employees quit in order to get higher education.

- Too many years in a particular role is the fourth biggest reason why employees quit a company.

- A large number of employees quit because they do not get along with their bosses.

WHAT AN HR SHOULD DO?
To manage employee attrition, HR managers should ensure that jobs are rotated and focus on work-life balance of employees.

Increasingly organisations are developing separate retention plans and policies for their top talent. While rewards continues as a retention tool to retain top talent, programs around leadership opportunities and coaching, overseas assignments, fast track programs for hi - potentials are also some of the other ways to control top talent or attrition."

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Category
Vocabulary explained
Tags
Attrition Rate, Attrition Analysis, Formulas in Practice, How to Calculate Attrition

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