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Meaning & Definition
attrition
Attrition refers to the reduction in workforce due to resignation, retirement, or death. High attrition rates can indicate issues such as poor job satisfaction, lack of career growth opportunities, or ineffective management practices. Managing attrition involves understanding the reasons for employee turnover and implementing strategies to enhance retention, such as career development programs, competitive compensation, and a positive work environment. Reducing attrition helps maintain organizational stability and productivity.