Hi Neha,
Six Sigma is a very systematic methodology for improvements. It uses a 5-step approach, namely Define, Measure, Analyze, Improve, and Control. Coming back to your project on attrition rate, don't come to any conclusion based on exit interviews. Use the following steps (You may need training on Six Sigma before doing this):
1. Define your problem clearly using the SMART approach (Your goal should be Specific, Measurable, Aggressive but Achievable, Relevant, and Time-bound). Defining scope and boundaries is very important. Specific formats are available for this, for example, a Project Charter. Map the entire process from recruitment to attrition.
2. After clearly defining the scope and objectives, establish a baseline, i.e., measure the existing status. Ensure your measurement system is objective and not open to different interpretations. In this stage, you will identify different variables (In Six Sigma, they are called Xs) contributing to attrition. They may vary from 25 to 75 depending on your scope and organization.
3. In this stage, you analyze each of those variables using statistical tools (e.g., hypothesis testing) and eliminate non-contributing Xs. This is a funneling process. By the end of this stage, you will have a few Xs (normally 3 to 9) which are taken to the next step.
4. In the Improve stage, you validate the remaining Xs, identify the main contributors and root causes, and also identify the improvement actions.
5. This stage is called control or the sustenance of improvements. You establish controls for holding the gains for the long term.
This is just an overview, and the actual project needs a lot of focus, teamwork, and basic knowledge of Statistical tools.
All the best for your project.
Ramesh
Email: rameshprr4@tqbs.com