Employee Attrition Report is a ready-to-use template in Excel to calculate Employee Attrition Rate.
HR professionals prepare Attrition report monthly or yearly to monitor and rectify the causes of attritions in the organizations.
What is Attrition?
In other words, attrition is defined as voluntary and involuntary reduction of a company’s workforce. This reduction is mainly due to retirements, transfers, resignations, terminations, or deaths.
Types of Attrition
There are 4 types of attrition which are:
Voluntary Attrition means employees willingly leaving company due to personal or professional reasons. It is the most common types of attrition.
Involuntary Attrition rate meaning is when an employer initiates the termination of employees for misconduct, merger, or acquisitions. However structural changes or production line changes also initiate involuntary attrition. Even economic slowdown is also a cause of involuntary attrition.
Moreover, The movement of employees from one department to another refers to internal attrition. This includes moving of employees within company for growth.
Demographic Attrition refers to loss of specific group of employees. This also includes specific age, sex, ethnic minorities, people with disabilities, veterans, or older professionals.
What is Attrition Rate definition And Attrition Rate Formula
The attrition rate means calculating proportion of employees leaving an organization over a specific period. A normal rate of attrition is expect in normal business operations.
However a high rate of attrition leads to many problems and a lack of workforce. So, HR professionals design and implement company compensation programs and motivation systems.
Thus, This helps them to keep the employees happy and attrition rates low. Therefore, Keeping the attrition rates as low as possible helps to save money.
So, You can save money that is to be spent on advertising for hiring, training, and completing paperwork for new employees.
Monthly Employee Attrition Report Template
We have create a Monthly Employee Attrition Report Template with predefine formulas. Just enter number of employees leaving and joining the organization in respective cells. The template automatically calculates the attrition rate for you.
With this template, you can easily monitor monthly attrition rate of your organization and take relevant measures to decrease them.
Causes of Attrition
- Lack of growth opportunities.
- Lack of appreciation.
- Non-cooperative team members.
- Long working hours.
- Health and Aging problems
- Inability to handle extensive pressure from management.
- Motherhood for female employees.
- Employees pursuing Higher Studies.
- Employees starting their own business.
Generally, most of employees leave within the first two years of tenure.