Reducing Attrition: What Strategies Have Worked for You in Your Workplace?

Hi All,

I have compiled some information from various sources in a PowerPoint presentation about reducing the attrition rate. I hope you'll like it.

Regards,
Gunjan

Dear Gujan,

Your work is appreciable. Keep it up.

I have a small piece of advice as well. With over 20 years of experience in this field, I have observed that organizations that offer better compensation (which is the primary motivation for all of us) and job security (in terms of employment continuity) tend to have lower labor turnover rates. The theories of motivation and team building can be effectively applied in organizations where highly educated employees are predominant. In such settings, employees often attend seminars and lectures to demonstrate their understanding of concepts. However, in a manufacturing company where over 50% of the workforce belongs to the shop floor category, we need to provide incentives to retain them. Surprisingly, the turnover rate among this group is very low.

When the opportunities for finding a "better job" are scarce, attrition rates naturally decrease. In today's labor market, educated candidates can easily secure new positions, leading to higher attrition rates. The attrition rate during a recession is typically lower and tends to increase as the economy recovers from the downturn.

A company's reputation among the public plays a significant role in how employees perceive their workplace. The sense of security and respect received from others often determines whether an individual chooses to stay or leave. This principle is evident when considering government employees who continue working until retirement without additional motivation or incentives.

Regards and best wishes,

Madhu.T.K

Hello Gunjan:

"I have compiled some information from various sources in a PowerPoint presentation about reducing attrition rate. Hope you'll like it."

Reducing attrition is not difficult, but what is difficult is changing what hiring managers do prior to the job offer. Hiring for talent is the single best thing a hiring manager can do to reduce attrition.

I completely agree with you, Sir. In fact, I feel that if we can do some homework on what our competitors are offering and how they are hiring employees, then we can definitely make our hiring system better. Also, we can have regular update sessions and interviews with all employees to understand their opinions and views. This can, in turn, reduce the attrition rate even in booming times.

Regards,
Gunjan

Dear Mr. Bob,

Sometimes, we all face problems in hiring as there are many channels and rounds in the recruitment system. Different people have different opinions about a single candidate. If the hiring managers can sit together and create a proper model for hiring a candidate, then we can definitely attract good talent. We should discuss "what we require" and "what we can teach" before reaching out to potential candidates.

Regards,
Gunjan

Hello Gunjan:

"Sometimes, we all face problems in hiring as there are
many channels and rounds in the recruitment system."

That is very true.

"Different people have different opinions about a single candidate."

Yes, that is true and it is part of the attrition problem.

"If the hiring managers can sit together and make out
a proper model for hiring a candidate then we can
definitely get good talent."

If we don't measure talent, we don't hire for talent.

"We should discuss "what we require" and
"what we can teach" before calling people."

You are very close, see below

If we want to be sure that all our new hires and employees become long-term successful employees, we need to make sure that all employees are competent and have a talent for their jobs.

For employees to find job success...
® talent is necessary, but not sufficient.
® skills are necessary, but not sufficient.
® training is necessary, but not sufficient.
® orientation is necessary, but not sufficient.
® knowledge is necessary, but not sufficient.
® competency is necessary, but not sufficient.
® qualifications are necessary, but not sufficient.
® effective management is necessary, but not sufficient.
® successful interviews are necessary, but not sufficient.
® appropriate behaviors are necessary, but not sufficient.

Talent is the only necessary condition for job success that employers cannot provide their employees and schools cannot provide their students. Employers must hire talent, see the book "First, Break All the Rules, What the world's greatest managers do differently."

Most employers don't measure talent so they can't hire for talent even if they do hire the best and the brightest.

Competence and talent are necessary but they are not the same. The following ties competence and talent together in a short guide for selecting the right people for a position. Talent and competence are necessary but they are two different things. Selecting for competence and talent avoids many performance problems. There are two conditions, see 3A and 3B below, when competent people should not be hired or selected for a position.

Each position has its own talent requirement.

Job applicants can have
1. Excellent Talent ... greater than 85% job suitability
2. Adequate Talent ... 85% to 70% job suitability
3. Inadequate Talent ... less than 70% job suitability

Job applicants can also be
A. Highly Competent
B. Competent
C. Not Competent

The following is the order in which applicants and/or employees should be selected for positions.
1A = Excellent Talent and Highly Competent
1B = Excellent Talent and Competent
2A = Adequate Talent and Highly Competent
2B = Adequate Talent and Competent

The following should be selected if they can become competent.
1C = Excellent Talent and Not Competent
2C = Adequate Talent and Not Competent

The following should not be selected.
3A = Inadequate Talent and Highly Competent
3B = Inadequate Talent and Competent
3C = Inadequate Talent and Not Competent

Talent must be hired since it cannot be imparted or acquired after the hire.

Hello Manojcitehr,

"What is the difference between talented, competent, and skilled?"

Competence can be acquired after the hire. Skills can be acquired after the hire. Talent cannot be acquired nor increased after the hire, so we must hire talent. Talent is what we bring to the job that is unrelated to education, experience, and knowledge. Talent is what separates the best employees from others, even if they are competent, experienced, and skilled.