8 Handling attrition

 

This chapter covers

  • The effect of attrition
  • Reasons why people decide to leave a company and move on
  • How to get ahead of attrition to reduce its effect
When you ask someone to leave where they are or ask them to join you, you are asking them to make a commitment. I take the commitment seriously.
—Myra Norton, President, Company Arena

Imagine a gentle ping on your phone from the Blind app (https://www.teamblind.com), a portal into the tech world where people seamlessly double their compensation by switching companies. You’re intrigued, scanning the latest job trends flooding digital channels. Recruiters, like diligent messengers on LinkedIn, bring tempting job offers with perks ranging from gourmet meals to higher pay. Perhaps you’ve brushed aside previous offers, but now doubt creeps in. Are you in the right role in the right place?

This scenario reflects the allure of attrition—a force capable of breaking professional ties. Attrition is gradual workforce reduction due to talent loss or intentional departures (figure 8.1). It’s not just a numerical drop; it also signifies a knowledge drain, leaving employers grappling with the aftermath of departing expertise.

Figure 8.1 When an employee feels frustrated, you’re in danger of losing someone to attrition.
figure

8.1 Attrition is inevitable

8.2 Reasons people leave

8.2.1 Voluntary reasons

8.2.2 Involuntary reasons

8.3 Effect of attrition

8.3.1 Low team morale

8.3.2 Loss of knowledge

8.3.3 High hiring and backfill cost

8.4 Getting ahead of attrition

8.4.1 Proactive measures

8.4.2 Reactive measures

8.4.3 Point of no return

8.5 Stop and think: Practice questions

Summary