How is Attrition Rate in Your Team / Organization?

Leadership Development - Attrition: Managing attrition is the biggest challenge for any leader.

What is your attrition management strategy? Employees do not leave the organization – they leave their managers. If my manager is a Leader, then I shall think many times before leaving the organization.

Let me share one of my experience. A few years back, one of my team members came and met me. He has shown an offer letter to me and said “Amit, I got an offer from XYZ organization and they are ready to pay me 50% more CTC than I am getting today. But, I decided not to quit. I am fine with 50% less package, because, I am not sure whether I shall get the kind of environment, team and lead that I am having today. Also, I have come to tell you that, I am not here to bargain for a better pay hike in the next cycle. The only request I have is – if you decide to leave this organization, please do let me know”.

For me, this is one of the biggest accomplishment as a people manager. Attrition is a common problem in the IT industry. When an employee decides to leave the organization, it takes time to find a replacement and make the individual productive. There is a high cost involved in the entire process. When a team is led by a Leader, the attrition rate comes down automatically. Coach your managers to become Leaders. The investment towards the Leadership Development is much lower than the cost of attrition. We must keep that in our mind. Being cost conscious is good, but we need to understand where to invest. Leadership Development is not a cost, but an investment.