Abstract:
Employee attrition is a significant problem for any organization. In true sense, the cost of
replacing a well-trained or an employee with good performance can be really big, sometimes
even more than what makes sense about money. Along with the time spent for candidate
interview, selection, notice period, joining bonus etc. the loss of production hours for a
significant amount of time while the new employee gets used to the system and generates output
combines in a vital amount of loss for the organization. Employee turnover happening on a
regular basis causes the organization to decrease in its collective knowledge base and experience
gathered over time. Also, possibilities of errors and issues increases at a great rate with new
workers until they gather enough knowledge on the system.
