What is Employee Attrition, and why does HR measure it?
Employee attrition, or labour turnover, is the rate at which employees are leaving a business within a set period of time – usually 12 months. It is expressed as a percentage and varies between sectors.
The most up to date employee attrition rates in the UK for key sectors are:
Some attrition is normal and healthy – HR expects that. Employee leave is to be expected and new employees bring new ideas and fresh outlooks. However, high attrition levels can be costly – especially when you consider the price of recruitment, training, lower productivity in new employees, plus support and training resources. Even those who stay can get demotivated and overworked, no matter how loyal and good they are.