Advantages And Disadvantages Of Attrition

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In big Companies, employees are always leaving for numerous reasons but when they do, they’re replaced with new hires. This is called Turnover rate, which every company in the World has. Ingram (2013) stated that, “In human resources terms, employee turnover refers to the rate at which employees leave jobs in a company and are replaced by new hires”(p. 1). There are always numerous reasons for leaving a company but sometimes when leaving a job, it doesn’t always pertain to not liking the job, it could be because of age or living too far away from it. When it does pertain to the job, the reason is usually because you’re not getting paid enough, or the person doesn’t like the environment. Turnover rates also ties into Attrition and retention …show more content…

A few of the cons with attrition are trying to replace a position. A lot of times when an employee leaves, the other employees are stuck with those duties, but they won’t get a pay raise, which can lead to an unhappy work force. The upside of Attrition could be to restructure your company to make it better. There’s always a way to do better and why not try to change things around after someone leaves. In this essay, I’m going to give an analysis for the attrition data of The Life Sciences Company. The goal of this analysis is to see if there’s any attrition in the company. Attrition only concerns to employees that left because of regular means, not being terminated. The way I figure this out is by using the Attrition rate formula, which is, dividing the average number of employees who left by average number of employees who were employed and multiply the sum by 100. Through this I’m going to see if the correlation is significant and if it has importance. Basically, any correlation above .06 would be significant but just because a correlation is significant doesn’t mean it’s important. Correlations between 0 and .3 would be considered low, correlations between .3 and .7 would be considered moderately important, and .7 to 1 and higher would be highly