What is the opposite of staff turnover?

The difference between turnover and retention

They’re almost opposite terms. Employee turnover is the proportion of your workforce who leave during a period of time (usually per year). Retention is the proportion of employees who stay.

What is another word for employee turnover?

Definition: Staff attrition refers to the loss of employees through a natural process, such as retirement, resignation, elimination of a position, personal health, or other similar reasons.

What is another word for turnover in business?

Turnover is the total sales made by a business in a certain period. It’s sometimes referred to as ‘gross revenue‘ or ‘income’.

What is the meaning of employee retention?

Employee retention is defined as an organization’s ability to prevent employee turnover, or the number of people who leave their job in a certain period, either voluntarily or involuntarily. Increasing employee retention has a direct impact on business performance and success.

What is the opposite of attrition?

It goes without saying that the term Retention and Attrition are not one and the same. If we go by definition, both are in fact opposite phenomenon. Retention.

What is difference between employee turnover and attrition?

Employee turnover and attrition both occur when an employee leaves the company. Turnover , however, is from several different actions such as discharge, termination, resignation or abandonment. Attrition occurs when an employee retires or when the employer eliminates the position.

Whats the opposite of retention?

Antonyms & Near Antonyms for retention. dispossession, relinquishment, surrendering, transferal.

What is the meaning of employee satisfaction?

Employee satisfaction is a broad term used by the HR industry to describe how satisfied or content employees are with elements like their jobs, their employee experience, and the organizations they work for.

What is attrition and retention of employee?

What is the difference between attrition and retention? A retention rate is the percentage of employees your business has retained over a specified time period. An attrition rate looks at the exact opposite or retention. The attrition rate shows the percentage of employees you lost and did not replace.

What do you mean by employee attrition?

Attrition is the departure of employees from the organization for any reason (voluntary or involuntary), including resignation, termination, death or retirement.

What is the synonym of attrition?

Words related to attrition

erosion, abrasion, attenuation, debilitation, depreciation, disintegration, grinding, rubbing, thinning, weakening, wear, contriteness, penance, penitence, remorse, repentance, remorsefulness.

What are the types of attrition?

There are five types of employee attrition that you need to know of:
  • Attrition due to retirement. …
  • Voluntary attrition. …
  • Involuntary attrition. …
  • Internal attrition. …
  • Demographic-specific attrition.

What does high attrition mean?

What Is A ‘High’ Employee Attrition Rate? Generally, high attrition rates or churn rates indicate that employees are turning over pretty quickly while low attrition rates mean that people are staying with your company for a longer period of time.

What is the opposite of attrition rate?

The retention rate measures the percentage of people who remain employed by a company over a specific period. This is essentially the opposite of attrition metrics, which measure the percentage of employees who leave the company.

What’s another word for retention?

In this page you can discover 21 synonyms, antonyms, idiomatic expressions, and related words for retention, like: reservation, remembrance, retentiveness, withholding, keeping, retentivity, maintenance, preservation, recall, holding and memory.

What is an example of attrition?

The definition of attrition means wearing down or wasting away, or the natural decline in the number of people working in an organization. An example of attrition is a cliff face eroding due to rain and wind. An example of attrition is one army wearing down another throughout the course of a war.

What is attrition and shrinkage?

Attrition is a component of contact center shrinkage. It is the rate at which the agent workforce is reduced through voluntary (resignation, transfer, promotion, job loss, etc.) or involuntary (termination, disability, sick leave, layoff, etc.)

What is retention rate?

Retention rate is an important metric that calculates the percentage of users who continue using your product or service over a given time period. A high retention rate means your current customers value your product and are providing a sustainable source of revenue. A low retention rate means you have a leaky bucket.

Is retention rate the inverse of attrition rate?

Retention isn’t simply the inverse of turnover. There are important differences in how the two are calculated and what each indicates. However, taken together, they give a holistic view of staffing stability and movement within the company.

What is staff shrinkage?

Shrinkage is a workforce management metric that refers to time in which agents are being paid but are not available to handle interactions. There is planned shrinkage, like agents being scheduled for staff meetings and trainings, and there is unplanned shrinkage, like an agent calling out sick or on vacation.

How can a team leader control attrition?

How to manage attrition
  1. Foster a pleasant work environment. The work environment is the space where employees fulfill their job responsibilities. …
  2. Appoint the right leadership. …
  3. Give employees creative freedom. …
  4. Prioritize professional growth. …
  5. Offer competitive compensation and benefits.

How do you manage shrinkage in a team?

How to Minimize and Manage Shrinkage in a Call Center?
  1. Measure Shrinkage Rate Continuously. No manager can boost call center performance without measuring and monitoring shrinkage rate regularly. …
  2. Track and Improve Schedule Adherence. …
  3. Keep in Mind Unproductive Time. …
  4. Monitor and Address Absenteeism. …
  5. Keep Agents Competitive.

What are the 3 main causes of shrink?

There are four main causes of shrinkage: shoplifting, employee theft, administrative errors, and fraud. Understanding how shrinkage happens in retail stores is the first step in reducing and preventing it.