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How to reduce employee attrition rate

HR Digest

According to the Bureau of Labor Statistics, in the United States, voluntary attrition soared by over 800,000 over the past year, while involuntary attrition declined by nearly 400,000 over the same time period. What does this imply for a company’s strategies to reduce attrition rate? What is Attrition?

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The Real Cost of Employee Attrition

The Center For Leadership Studies

When conducting a thoughtful analysis on the real costs of employee attrition, the first thing you need to wrap your head around is that all turnover is not created equal! All of that to say, the real costs of employee attrition emanate from Quadrant 4. Quadrant 4. Productivity. Good people are surrounded by good people!

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LeadershipNow 140: October 2023 Compilation

Leading Blog

Effective Managers Write the Rules of the Road with Their Teams by @ArtPetty Building Your Personal Braintrust by @SahilBloom The Ambiguity Factor in Leadership Communication by @JenniferVMiller 11 Principles that Form a Design Mindset by @stephenanderson A Few Laws of Getting Rich by @morganhousel Fall Back to Reading Series Featuring @JamesStrock (..)

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Business Politics Impacts – Cost of Employee Attrition

Strategy Driven

Yet a significant portion of voluntary attrition is directly related to an abusive work environment created, in part, by excessive business politics. A company of 250 employees making an average of $43,000 per year experiencing a 20 percent attrition rate spends an estimated $2.15M on employee replacements annually. Subscribe Now!

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Innovative Ways to Improve Employee Retention

HR Digest

The current competitive marketplace has made it a necessity for organizations to discover steps in managing attrition rates. Employee Retention Strategies to Decrease Staff Turnover Rates Employers need to focus on fostering a positive work environment as a step in managing attrition.

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Does Your Leadership Suffer From Proximity Bias?

Rich Gee Group

That’s a prescription for attrition — and your prescription is for more cowbell. 
 In addition, technology has exploded in the past 40 years — take advantage of the flexible nature of work. Let your people work smarter, not harder or longer.

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Master your Metrics

Lead Change Blog

Customer attrition, decline in repeat customers, fewer new customers, decreasing average sales, and margin deterioration are lagging indicators of diminishing relevance. Customer attrition, declining repeat customers. Leading Indicators. Lagging Indicators. Changes in employee engagement or satisfaction survey responses.

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