Employee attrition refers to the gradual loss of
employees from an organization due to resignations, retirements, layoffs, or
other reasons. High attrition rates can disrupt business operations, increase
recruitment and training costs, and negatively impact employee morale. Understanding
the factors behind attrition is essential for organizations to develop
strategies to retain talent and maintain workforce stability.
Attrition can be categorized as voluntary, when
employees leave by choice, or involuntary, due to factors such as layoffs or
dismissals. Common causes of voluntary attrition include lack of career growth
opportunities, low job satisfaction, inadequate compensation, and work-life
imbalance. On the other hand, involuntary attrition may arise from
organizational restructuring or performance issues.
Effective management of employee attrition involves
creating a supportive work culture, offering competitive benefits, and
fostering professional development. By addressing the root causes and focusing
on employee engagement, organizations can reduce turnover and build a committed
workforce. This study explores the causes, impacts, and strategies to manage
employee attrition, providing insights for organizations to strengthen employee
retention.
Objectives of the Study
- To understand the concept and types of
employee attrition.
- To identify the key factors contributing to
employee attrition.
- To evaluate the impact of attrition on
organizational performance and costs.
- To analyze strategies for reducing attrition
and improving employee retention.
- To provide recommendations for building a
stable and engaged workforce.