6/16/2023 0 Comments Attrition rate it industry![]() Nevertheless, most Gen Z and Millennials oppose the notion that it is "anti-work” and is believed that this trend has led to a surge in employee attrition in India from 6% in 2020 to 20.3% in 2022. The largest group of people this is affecting is Generation Z and Millennials, who supposedly began the quiet quitting phenomenon, it should not be a surprise however, that Baby Boomers or Generation X are among those that are fed up with this trend. The percentage of Indian jobseekers putting work-life balance among their top goals has risen from 36% to 47% in the last two years, which has led to quiet-quitting, a term that has been popularly used in recent months. The employment market in India has taken a turn since the pandemic hit, employees have understood the importance of work-life balance and flexibility. High attrition rates can have a variety of consequences for a company, some of which are directly linked to employee satisfaction. It is critical to recognize the type of attrition and comprehend its causes. It is not enough to simply look at the calculated numbers to determine whether employee attrition poses a risk to your company. Keeping track of the attrition rate helps senior-level management to see trends and dive into the root cause of any rises and take the correct measures to decrease it. The attrition rate is a concept that has consistently enabled organizations to align futureplans with workforce economic trends and business situations. But what exactly is attrition rate? The attrition rate, also known as churn rate, is used to calculate the rate at which employees leave organizations. Many people would have heard of ‘attrition rate’, it is a well-known and much feared term among HR professionals.
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