8 Handling attrition
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 of Company Arena
This chapter covers
- Concept of attrition
- Attrition is inevitable
- Reasons why people decide to leave a company and move on
- Impact of attrition
- How to get ahead of attrition to reduce its impact
You get a ping notification on your cell phone, it's the Blind (https://www.teamblind.com/) app- sharing information about someone in the technology sector who doubled their compensation by moving from one company to another. Reading this, you are tempted for sure and curious to see the latest job trends in the market. Similarly, you get hit up by recruiters weekly through Linkedin and other sources, telling you all about the job roles, the fancy perks like free meals, and the higher compensation the companies offer. You might have ignored some of the previous emails from the recruiters, but this makes you wonder if you are in the proper role and at the right place.
Figure 8.1 An employee feeling frustrated and ready to quit
Yes, these are classic examples of what leads to attrition with the current employing company. In simple terms, attrition is defined as the reduction in the size of the workforce by being unable to retain talent or letting people go, which leads to a knowledge drain and context loss for the current employer.