Employee attrition refers to the reduction of a company’s workforce. The reasons for which employees leave can be both voluntary and involuntary. Attrition, to an extent, can be considered normal in a business environment and can be dealt with. But if the attrition rate increases for a company, the matter becomes of serious concern. It may take a long time to find the people who can fill the positions required. A lot of things come into consideration, their specialization, experience.
In today’s world, majority of the people will jump for a new job opportunity. The number of people who work in the same place from their first job till their retirement is very less. People nowadays demand new work life, new experiences, and will happily leave one company for the other. With these attrition rates, HR leaders can step up and work towards reducing the attrition rate. Creating an atmosphere that ensures employee engagement and productivity can help improve the quality of work in the organization.
Problems are bound to increase with such high attrition rates in any company. A relationship between any customer and employee takes some time to build, and many such relationships will suffer due to employee attrition. Now with the understanding of employee attrition and knowing the fact that attrition rates can be improved, you can divert your focus in the process of reducing attrition rates.
Getting an insight into the Employee attrition rate and analyzing the reasons for attrition may help the company in the future. There are tools available in the market, but those tools are either custom-made and require a lot of time or require technical know-how. You can skip these hurdles and leverage tools like Power BI to draw insights relevant to your organization. We have put together a free template for you to get a better understanding of Power BI and how it can serve your organization.
This template will help you get a better insight into the attrition rate. These matrices have all been created to help you analyze the employee attrition rate of your company. This will help you understand the behavioral analysis of attrition and the reasons behind the same. All you have to do is:
1.Open the file with .pbix in Power BI.
2.Click on the "Get Data" tab under the home section and then browse for the supporting .xlsx file (fields in the excel file should match with the supporting file) that has employee details.
If you want a tool that focuses on the trend of attrition for a year, click here and claim your free tool!
Would you like to get a sample salesforce attrition model for your company? Please email us at info@incentius.com
