Attrition tests your HR processes – before your competition does
Ensure you examine which performers are leaving. If it is your underachievers, then grab this chance to replace ‘dead wood’ with fresh talent. And definitely wave fond farewell to employees who have nurtured a bad culture by lowering morale or productivity, or encouraging toxic behaviour.
It’s not all Easy Street though. Alarm bells should ring when it’s primarily your high performers who are leaving. Your HR function should be able to mitigate or even pre-empt this risk through robust reporting systems, (more on which you’ll find in our previous blog).
Firstly, early warning systems will help you stem any potentially ruinous mass exoduses.
Secondly, capturing the right data will help you understand the reasons behind exits. You should at the very least have a robust exit interview at the heart of your offboarding process.
For more information on how our SAP SuccessFactors HR management systems will help you effectively resolve both of these issues, contact Bethan John.
Insure yourself against the damage caused by the departure of a strong performer using knowledge capture, so vital know-how and contacts don’t also vanish out the door. Make regular and effective communication and knowledge-sharing within teams and across the company a key plank of your people management strategy.
Again, our SAP SuccessFactors HR management systems can help you future-proof your knowledge capture; contact Bethan John for more details.
What’s right for the goose doesn’t always help the gander’s bottom line. In some sectors, long-accrued knowledge and experience is the most valuable commodity and the loss of highly valued individuals or teams would be a mighty commercial blow. As some of you are all too aware, some industries are currently being disproportionately impacted by attrition:
Retail and hospitality: the pandemic decimated the ranks of those employed in this sector with staff made redundant, had roles replaced or taking their transferable skills elsewhere rather than be furloughed.
Tech: having switched almost overnight from office-based to home working, many employees are reluctant to revert or are burnt-out.
Manufacturing: as economies scramble to reopen and get back on track, employees realise that they are a valuable commodity and are leveraging this to better their position.
Professional services:particularly management consultancies and tax advisories.These typically attract younger employees wanting to quickly scoop up as broad a spectrum of experience as possible and who value a cutting-edge office-based corporate culture with cool tech; travel opportunities; and a strongly defined career path - all of which were curtailed in lockdown. If their employer doesn’t deliver the wider career goals and lifestyle they covet, they will move to a firm that does.