ATTRITION IS A CHALLENGE
Mayank Wahi
25+ years of experience in F&A, Record to Report operations Lead, FP&A Analyst, VP operations
Attrition is no longer a problem but a disease & most of the industries are facing a challenge to reduce their attrion rate and stabilize their numbers/ figures to as low as possible. No industry is spared the frustration of investing money, time and effort in the process of finding, recruiting and training new employees.
For many, this frustration leads to rationalizing these occurrences in ways that make it excusable. In their minds the loss is justifiably uncontrollable.
As much as we may like to blame fate or some other force beyond our control, attrition that is linked directly to attachment of employee's, is well within our control. Till date we have just not been in a position to identify measure and control across this problem.
The first 135 days of employment are the most critical in the establishment of perceptions of trust, fairness, pride, security, belonging and contribution for a new employee
State of attachment has a high correlation with employee retention and attrition rates that occur within the first 18 months of employment is relatively high. The higher the level of attachment, the lower the risk of attrition and the higher the level of performance.
Based on the research by various industries and independent firms, we can formulate a model of working where we can curb the attrition to great extent:
Digital Ops | Cloud Platform | Service Delivery | Customer Success
9 年99% Organizations don't believe in stability. but encourages to go out and come back. they don't try to solve issues when the employee is on board but when he resigns they behave as if they want to solve issues. Basically HR minds and HR policies need to change. the way Organisations treat employees should change. till then no one can reduce attrition.
Senior Manager Application Management
9 年Nice and informative article, Mayank.