Attrition refers to the natural reduction of staff within an organization over time, typically due to factors such as retirement, resignation, or death. Attrition can occur for various reasons, including voluntary departures by employees seeking new opportunities, involuntary layoffs or terminations, or workforce planning initiatives aimed at optimizing staffing levels.
While attrition is a normal and inevitable part of organizational life, excessive or unplanned attrition can have negative consequences, including loss of institutional knowledge, decreased morale among remaining staff, and disruptions to workflow and productivity. Therefore, organizations often monitor attrition rates closely and implement strategies to manage and mitigate its impact, such as succession planning, talent retention initiatives, and targeted recruitment efforts to fill vacant positions.
You may also be interested in learning about these terms:
Attrition
Workforce Planning
Succession Planning
