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Calculate attrition percentage | How to control the higher attrition rate

by productivemantra | Aug 15, 2022 | Education

In business, the word attrition refers to employee turnover. Employee turnover has the potential to be very costly to your organization, so it’s important to keep an eye on attrition rates and make sure that you have strategies in place to deal with these rates effectively and to minimize their impact on your bottom line. This article will provide insight into the dangers of ignoring attrition in your organization and some concrete strategies that you can use to reduce this type of turnover and increase the effectiveness of your workforce.

Why Measuring Attrition Matters

1. Attrition can have a major impact on your bottom line.

2. High attrition rates can indicate underlying problems within your organization.

3. Measuring attrition can help you identify potential issues and take steps to address them.

4. Without measuring attrition, you run the risk of making decisions based on incomplete data.

5. Measuring attrition can help you improve your overall retention rate and keep your business thriving. 6. Asking employees why they are leaving can also provide valuable insight into what needs to be improved or fixed in order for employees to stay with your company longer.

7. Providing frequent feedback on performance is another way that organizations can create an environment where employees want to stay at their jobs for the long term.

8. People often leave because they are unhappy with their boss or their workplace culture, so these things should always be taken into consideration when it comes time for reviews or performance discussions.

9. When hiring new staff, make sure you find people who are committed to staying in the position for at least two years, as this will go a long way towards lowering your turnover rate. 10. Continually checking in with departing employees after they’ve left will also show you if there were any problems during their last few months or weeks before departure that might not have been evident during exit interviews (you might want to investigate any claims about unfair treatment).

11. The last thing you need is disgruntled former employees publicly airing out complaints about how bad things were while they were working there – try to minimize all bad press by conducting exit interviews and asking for feedback from departing staff members before it’s too late!

How To Measure Attrition

It’s important to measure attrition rates in your organization for a number of reasons. First, if you’re not monitoring attrition, you could be missing key warning signs that something is wrong. Second, by understanding your attrition rate, you can take steps to improve retention and reduce turnover. Here are a few ways to measure attrition

(1) Track employee tenure – determine the number of years employees have been with the company;

(2) Understand what caused them to leave – explore why employees left, whether it was voluntary or involuntary;

(3) Compare how many employees you lost during a given period against how many were hired during the same time period; (4) Calculate Employee Retention Rate – this measures how many people who were employed at the beginning of an allotted time period are still employed at the end of it.

Where Does Attrition Occur?

Attrition usually occurs when an employee leaves an organization voluntarily, but it can also happen when an employee is let go due to downsizing or poor performance. Regardless of the reason, attrition can have a significant impact on your organization. If you’re experiencing high levels of turnover, it’s worth analysing where this is happening and why. You might want to take note of what type of positions are most affected by attrition (e.g., new hires) and how many people are leaving (e.g., 5% out of 100).

What Causes Attrition?

There are many factors that can cause attrition in an organization, including poor management, a lack of opportunity for advancement, and low pay. However, the most common cause of attrition is simply employees becoming dissatisfied with their jobs.

What Are Some Examples Of How To Reduce Attrition?

There are a number of ways to reduce attrition in your organization, but it starts with understanding what causes employees to leave. Here are some common reasons for why people leave their jobs they’re bored; they feel unappreciated; they’re not getting along with co-workers or bosses; they want more money or benefits; the company’s moving away from the things that make them happy (like doing work outdoors). Whatever the reason, remember that when an employee leaves, you lose out on years worth of experience and investment in training.

Conclusion

If you don’t measure and track attrition in your organization, you’re missing out on critical data that could help you improve employee retention. What’s more, ignoring attrition can lead to a false sense of security, which can be dangerous for your business. By understanding the causes of attrition and tracking it regularly, you can keep your finger on the pulse of your organization and make sure that you’re doing everything you can to keep your employees happy and engaged.

How to calculate attrition rate in a month:

To calculate the attrition rate the below parameter is required :

*No of person separated in the month = A

* Average person on that month = B

Attrition rate is : (A / B ) * 100

Suppose at the beginning of a month the employee strength is 50 and end of the month, the employee strength is 65 and 17 No employees, have separated.

Then the Attrition calculate is = 17/ ((50+65)/2)*100

= 17/55 *100

= 0.31*100

= 31%

3 Ways to Build Employee Engagement in Your Company

by productivemantra | Aug 14, 2022 | Education

If you’re an employee working in any organization, then you know that there are different dynamics of relationships between colleagues, managers, and even team members. While some employees may be more receptive to ideas than others, it doesn’t mean that your team will automatically be engaged at work and inspired to do their best. Let’s face it: Some days, going to work can feel like a real drag. Even if you love what you do, spending so much time with the same people day after day can lead to gradual disengagement. But a Gallup poll found that only 31% of employees are engaged at work; a fraction of those who are actively unengaged or just not engaged enough to give their best performance.

What Does It Mean to Be Engaged at Work?

Engagement is the feeling of being fully involved in something, whether it’s personal or professional. It’s the difference between doing your job just for the sake of getting paid, and actually being invested in what you do each day and why you do it. At its core, engagement is about feeling connected to your work and your colleagues, feeling like you’re part of something that’s bigger than yourself. There are many factors that can influence engagement levels in the workplace, from your relationship with your manager to the type of work you do each day. But one of the most important factors is the connection you feel to your company as a whole.

8 Ways to Build Employee Engagement in Your Company

There are plenty of ways to build engagement in your company, but it all starts with paying attention to what each employee needs to feel more connected and satisfied with their job. – Communication: You can’t build engagement if employees don’t know what’s going on. – Recognition: Everyone wants to be recognized for the work they do. – Culture: The way you treat employees and handle day-to-day operations is what creates culture. – Rotation: If you want employees to think of your company as “the only place I want to work,” you have to give them opportunities to work in other departments. – Mentorship: Companies with highly engaged employees often have formal mentorship programs in place. – Feedback: Giving employees the opportunity to give feedback is helpful for two reasons: It helps build more engaged employees, and it also shows employees that their voices are valued. – Meaningful Work: Everyone wants to know that the work they do each day is meaningful, so make sure that you’re hiring for this reason.

Create Transparency Through Weekly Meetings

While transparency is often regarded as a business virtue, many organizations are still reluctant to share relevant information with employees, whether it’s financial data or upcoming projects. But a lack of transparency can breed distrust and disengagement among employees, who may feel that they’re being kept in the dark. Not surprisingly, the first step in boosting employee engagement is to build a culture of transparency in your organization. It’s a simple gesture, but by holding weekly meetings where employees can ask questions and get clear answers, you’ll be on your way to boosting engagement.

Create a Culture Based on Collaboration and Feedback

In order to build engagement among employees, you need to create a culture in which people feel comfortable working together. – Make collaboration a priority: You don’t have to eliminate competition, but you do need to encourage your employees to work together to find creative solutions to problems. – Create a feedback-rich environment: Offer opportunities for employees to give each other feedback on their work, and encourage regular one-on-one meetings between managers and their employees. – Create opportunities for growth: Make it clear that your company is committed to helping employees grow and develop new skills. – Promote a positive work environment: Make it clear that your company values the work of both employees and the work they do outside of the office.

Rotate Staff Throughout the Company

While some companies offer employees the opportunity to work remotely, it’s often not enough for employees to feel like they’re a part of something bigger. You need to make it clear that everyone in your organization matters and has a place, even if it’s just an entry-level job. That’s why companies like Amazon have implemented a “rotation” program, where employees are regularly rotated throughout departments so that everyone can get a feel for what it’s like to work in different fields.

Offer Meaningful Rewards for Employees

Employers often reward employee performance and longevity with salary increases and promotions. But what about rewarding employees for the things they might not even be consciously doing? Employees want to feel like they are contributing something meaningful to the organization, and they want to know they’re appreciated. A simple way to boost engagement among employees is to regularly offer meaningful rewards. Depending on your budget, you can offer rewards that range from gift cards to company swag to public recognition. To determine which rewards will have the biggest impact on your employees, start by asking questions. – What do your employees value most? – What would employees like to see their company doing more of? – What does your company already do to show employees they’re appreciated?

Conclusion

There’s no easy way to get employees engaged, especially if they’re disengaged to begin with. While there are many things you can do as an employer to boost engagement, you shouldn’t expect immediate results. It takes time for employees to feel connected to their work, and it takes time for them to feel comfortable expressing their ideas and concerns. – Dedicate time and resources to training and development. – Create an open and transparent culture. – Make it clear that all employees are valued and needed. It doesn’t matter if you have one employee or 100; every company has room to grow when it comes to engagement. With the right strategy, you can increase engagement among employees and inspire them to do their best work.

Why do people quit their job ?

by productivemantra | Aug 6, 2022 | Education

According to worldwide statistics, 20% of employees leave the company within 45 days of joining and around 50% of people quit the company within 1 year. Attrition is somewhere related to the onboarding process of companies. Companies with proper onboarding processes have a low attrition level.

People quit a company due to the following reasons

Unmet expectations during recruitment: Big promises are made during recruitment, but realities are totally different

i) For Example, people feel not getting the salary they were offered. They might not understand the difference between CTC & in hand.

ii) Some people feel that they are not given the role that was discussed during recruitment. During the discussion, they were offered some other roles but in reality, there is no such thing. So they feel upset and they move to some other company.

Lack of learning and development: Every employee wants to grow in a company by acquiring new skills. He wants to learn from his peers and competitors.

But when they come to know people are working in the same position for 5 years, there is no promotion policy. No scope for grow. So they feel they have made the wrong decision and decide to leave the company.

Discontent with managers: manager invests 3 to 4 months in recruitment and people in join after 2 months. Till that time manager’s patience level comes down and he expects that the employee will perform since day 1. But it does not happen in reality because people take time to understand. And adopting a new work culture So things are changing quickly for an employee and his expectations are also not fulfilled y the company. Therefore he leaves the company and joins some other company.
Lack of role clarity : In absence of organograms people don’t commit because they don’t know who are their reportees and whom they should report.

Also, they don’t have any idea about which type of report they have to make. What are their activities and how their performance will be judged? So they start searching for other jobs in the absence of role clarity.

Seven easy steps to develope a habit’

by productivemantra | Aug 6, 2022 | Education

1) Make A Decision

Make a choice first. Make a firm decision to start performing a certain manner 100% of the time, anytime such behaviour is necessary. For instance, if you decide to work out in the mornings, set your clock for a specified time, and when the alarm goes off, wake up right away, put on your workout clothes, and start working out.

2) Never Allow An Exception To Your New Habit

Second, avoid making an exception to your new behavioural pattern while it is still developing. Make no justifications or apologies. Not absolve yourself of responsibility. If you make a commitment to rising at 6:00 AM every day, train yourself to do so until it becomes second nature.

3) Tell Others You Are Practicing A New Behavior

Third, let others know that you’re going to start acting in a certain way. You’ll be astonished at how much more disciplined and focused you’ll be when you realise that people are watching to see if you have the willpower to stick with your resolution.

4) Visualize Your New Habit

Fourth, picture yourself carrying out or acting in a certain manner in a certain circumstance. Your subconscious mind will accept this new behaviour more quickly and make it automatic the more frequently you visualise and pretend that you already exhibit the new behaviour.

5) Create An Affirmation

Create an affirmation that you repeat to yourself repeatedly as your fifth step. The amount of repetition you receive significantly accelerates the process of creating a new habit. For instance, you could remark, “I wake up and leave right away at 6:00 AM every morning!” The last thing you say before going to bed, repeat these words. Most of the time, you will awaken on your own before the alarm goes off, and soon you won’t need an alarm clock at all.

6) Resolve To Persist

Sixth, make a commitment to stick with the new habit until it becomes automatic and natural to the point where you genuinely feel uncomfortable when you don’t follow through

7) Reward Yourself

The seventh and most crucial step is to reward yourself in some way for exercising the new behaviour. You encourage and repeat the behaviour each time you treat yourself. You quickly start to subconsciously link the behaviour and the reward’s pleasure. By choosing to engage in the action or habit you have chosen, you create your own force field of advantageous outcomes that you unconsciously anticipate.

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