The Affects of Attrition on Organizations
A few years ago my buddies put together a softball team. Once a week we get together and pretend we are still athletic and try to relive any glory years that we may have had in the past. As the season approached there were a few folks who could not make it due to other commitments. Who would sacrifice softball with their buddies for things like family, civic and community duties? Well some of my buddies did, which is impressive I would say. None the less I was left at the last minute trying to fill a roster that would not only prevent us from forfeiting each game, but also having enough talent to be successful and heaven forbid even be competitive!
When a company hires a new employee to be on their “team” they spent time and resources recruiting, interviewing, hiring, on boarding and training this new employee. Not to mention the time and effort it took to get this person acclimated into their new environment. Of course it depends on the organization and the industry, but it is fair to say organizations invest thousands of dollars on each person they hire to be a part of their organization. Once this time, effort and money is invested only to have the new person leave can causes a large gap to be fill! This is an example of a new person, we are not even talking about the experienced tenured employees that may leave for a new opportunity. How difficult would it be to fill those shoes?
The effects of attrition are not only seen and felt in the bottom line which of course can be very painful. They are also felt in the culture and moral of the company. With the explosion of social media it does not take long for a company to get a good or bad reputation based on the feelings of employees who have been or are currently employed.
In business we not only want to fill our roster, we want to be competitive and if all goes the way it should, we want to win. Over the years I have learned a few strategies to help deal with the effects of attrition.
Attrition will always have some impact on our business. If we can learn and improve we can use this information and data to our benefit. As employers we want the work place to be an environment where our employees want to be.
Best of luck and I hope we can all fill our Rosters and keep them full with happy productive players/employees!!