UK Accounting Glossary
The unpredictable and uncontrollable, but normal, reduction of the workforce due to resignations, retirement, sickness, or death. The Loss of a material or resource due to obsolescence or spoilage.
1. Wearing or grinding down by friction.
2. The gradual reduction in a tangible or intangible resource due to causes that are passive and do not involve productive use of the resource.
3. human resources A gradual, natural reduction in membership or personnel, as through retirement, resignation, or death.
If your organisation has a high level of attrition, it’ll have a requirement to continuously advertise, interview and hire new employees in order for them to take the place of those employees who have left.
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Definitions for Attrition are sourced/syndicated from:
This glossary post was last updated: 30th September 2019.