Hi freinds, Cud you’ll help me with the meaning of TURNOVER and ATTRITION. Do they both mean the same? If no, what differentiates them? Regards Dheeraj
From Singapore, Singapore
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3From Singapore, Singapore
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Attrition refers to the number or rate at which people leave an organization, resulting in a decline in the workforce. Turnover, on the other hand, is defined as a change in the workforce due to accessions, quits, discharges, and layoffs. The key distinction between attrition and turnover lies in the fact that attrition is associated with a declining workforce, whereas turnover is related to a stable or expanding workforce.
The general measure of turnover is typically expressed as a percentage, calculated by dividing the number of separations by the total number of workers on the payroll. For example, if 10,000 employees left a workforce of 5,000, the turnover rate would be calculated as follows: 10,000/5000 = 10/5 = 2/1 = 200%.
Cheers,
K
From India, Madras
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The general measure of turnover is typically expressed as a percentage, calculated by dividing the number of separations by the total number of workers on the payroll. For example, if 10,000 employees left a workforce of 5,000, the turnover rate would be calculated as follows: 10,000/5000 = 10/5 = 2/1 = 200%.
Cheers,
K
From India, Madras
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Attrition-rate. xls