Understanding Attrition in the Workplace: Causes, Effects, and Strategies for Mitigation
Attrition refers to the gradual decline or reduction in the number of employees within an organization over a period of time, often due to factors such as retirement, resignation, or termination. It can also refer to the process of reducing the size of a workforce through natural turnover or layoffs.
Attrition can be a significant issue for organizations, as it can lead to knowledge loss, decreased productivity, and increased recruitment and training costs. To mitigate the effects of attrition, organizations may implement strategies such as employee retention programs, succession planning, and talent development to retain key employees and maintain continuity within the workforce.
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