Higher Value for HR Consulting Services in Ahmedabad

Top Temporary Staffing Agency base HR Consulting Services Firm in Ahmedabad and India. Employees are the primary determinant of a company's efficiency, but when a company's attrition rate or employee turnover is trending upward, it suffers. These are the fundamental parameters that a business uses to justify its hiring practices.

At 20.4%, the retail or e-commerce sector in India has the highest attrition rate of any industry. This basically highlights the fact that one out of every five hires quits, resulting in significant losses for the business. Up to 80% of early-stage businesses experience attrition. Early-stage startups that see such high attrition rates run the risk of going almost bankrupt.

Employers must rehire and invest a comparable amount of time and money in finding and training a new employee when one employee quits, particularly if they were hired lately. These expenses may then mount up to result in larger losses.

Top Temporary Staffing Agency base HR Consulting Services Firm in Ahmedabad and India. Since attrition rates vary by industry, a company's attrition rate is something that is considered typical. But if it goes above that limit, it may be troublesome. To determine the ideal attrition rate for a business, a variety of contemporary HR technologies are available.

The primary causes of employee attrition must be identified after a company's nominal attrition rate has been determined. The following are the main causes of attrition in India, per a report by KPMG, one of the big four accounting firms:

    Higher income at a different company (28.1%)

    Better employment prospects elsewhere (23.4%)

Unavoidable causes such as retirement, relocation, or premature death can also result in attrition. It is impossible to prevent this kind of attrition. Therefore, it must be taken into account when calculating the nominal attrition rate. However, there are other additional factors that the employer may address in order to keep the attrition rate steady.

For an organization to operate and flourish as best it can, lowering its attrition rate is crucial. Additionally, it contributes to a very favorable brand image in the marketplace. For better outcomes, it is recommended for startups with less experience to outsource the process.