Hi All, This is teja, Can any one tell me the variation between attrition and Layoff and the reasons for that?
From India, Hyderabad
From India, Hyderabad
Attrition stands for the rate of labour turn over or the ratio of employees leaving the establishment as percentage of employees on roll as on a particular date. It is a concept to show how frequently employees leave the organisation and a high rate of attrition is certainly a bad signal.
Lay Off is a legal term used for temporarily closing down an establishment due to absence of materials, power etc. Lay Off is an initiative of the employer who finds it difficult to run a factory or a division of the factory without power or materials.
Regards,
Madhu.T.K
From India, Kannur
4193Lay Off is a legal term used for temporarily closing down an establishment due to absence of materials, power etc. Lay Off is an initiative of the employer who finds it difficult to run a factory or a division of the factory without power or materials.
Regards,
Madhu.T.K
From India, Kannur
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Attrition-rate. xls