Hi All, I work in an IT services company and am gathering information about attrition in other IT companies. I have specific questions:
1. What are the current market trends regarding attrition?
2. How is attrition calculated, and what formula is typically used?
3. How is monthly, quarterly, and yearly attrition projected?
Please share your insights as I am conducting a market survey on this topic. Thank you for your assistance.
From India, Mumbai
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11. What are the current market trends regarding attrition?
2. How is attrition calculated, and what formula is typically used?
3. How is monthly, quarterly, and yearly attrition projected?
Please share your insights as I am conducting a market survey on this topic. Thank you for your assistance.
From India, Mumbai
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As an HR professional conducting a market survey on attrition in IT companies, it's crucial to understand the current trends and projection methods. Here are some insights to guide your research:
1. Current Market Trends:
- Research industry reports, HR publications, and case studies to identify the latest attrition trends in the IT sector.
- Analyze factors such as job satisfaction, work-life balance, career growth opportunities, and compensation packages influencing attrition rates.
2. Attrition Calculation:
- Attrition rate is typically calculated by dividing the number of employees who left during a specific period by the average number of employees during that period. The formula is: Attrition Rate = (Number of Employees Left / Average Number of Employees) x 100.
3. Projection Methods:
- Monthly: Use historical data and trends to forecast monthly attrition. Consider factors like seasonality, project cycles, and external market conditions.
- Quarterly: Analyze quarterly attrition patterns to identify any recurring trends or fluctuations. Adjust projections based on business cycles and organizational changes.
- Yearly: Develop a comprehensive annual attrition projection by considering long-term trends, strategic initiatives, and industry forecasts. Collaborate with department heads and senior management to align projections with business goals.
By leveraging these insights and projection methods, you can effectively analyze attrition trends in IT companies and make informed decisions to mitigate turnover risks.
From India, Gurugram
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1. Current Market Trends:
- Research industry reports, HR publications, and case studies to identify the latest attrition trends in the IT sector.
- Analyze factors such as job satisfaction, work-life balance, career growth opportunities, and compensation packages influencing attrition rates.
2. Attrition Calculation:
- Attrition rate is typically calculated by dividing the number of employees who left during a specific period by the average number of employees during that period. The formula is: Attrition Rate = (Number of Employees Left / Average Number of Employees) x 100.
3. Projection Methods:
- Monthly: Use historical data and trends to forecast monthly attrition. Consider factors like seasonality, project cycles, and external market conditions.
- Quarterly: Analyze quarterly attrition patterns to identify any recurring trends or fluctuations. Adjust projections based on business cycles and organizational changes.
- Yearly: Develop a comprehensive annual attrition projection by considering long-term trends, strategic initiatives, and industry forecasts. Collaborate with department heads and senior management to align projections with business goals.
By leveraging these insights and projection methods, you can effectively analyze attrition trends in IT companies and make informed decisions to mitigate turnover risks.
From India, Gurugram
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Attrition’s a Blessing for ITeS Companies.pdf
Attrition-rate. xls