In the realm of human resources, attrition is defined as both the voluntary and involuntary reduction of a company’s workforce through deaths, employee retirements, transfers, resignations and terminations. While some attrition is to be expected in normal business operations, a high level of reduction can lead to problems and a lack of manpower. Some of the ways human resources professionals do their part to keep top-performing employees happy and attrition rates low is design and implement company compensation programs, motivation systems and a company culture. Besides retaining top performing employees, business owners try to keep their attrition rates as low as possible to keep from having to spend money on advertising for, hiring, training and completing paperwork for new employees.
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