Employee attrition in an organization has forever been a real challenge and has impacted severely in many industries throughout the recent years. For both the management and employees, attrition is not an easy process to deal with. In order to tackle this challenge we need to first understand what is attrition.
Attrition in an organization means the reduction or decrease in the number of staff and employees through any normal means like resignation and retirement. In today’s fast paced business environment, there are various factors that contributes to this challenge. Right from intense business competition to higher brand value, competitive compensation to better work culture, the probability of your most favorite and talented employees leaving your organization and join your competition has been increasing steadily as we speak. So how do we tackle this problem?! How do we retain our best employees?! How do we identify our employees’ needs?! Today in this article we will discuss some vital aspects of this challenge.