Attrition is reduction in force by means of resignations, retirements and death.
Turnover is defined as a change in the workforce due to accessions, quits, discharges, and layoffs. The difference being that attrition is a function of a declining workforce, whereas turnover is the function of a stable or expanding workforce.
Attrition - The no. / rate at which people leave an organisation (decline in workforce)
Turnover - Defined as a change in the workforce due to accessions, quits, discharges, and layoffs.
The difference being that attrition is a function of a declining workforce, whereas turnover is the function of a stable or expanding workforce.
The general measure of turnover is a percentage, derived from the number of separations divided by the total number of workers on the payroll.
Ex.: 10,000 employees left a workforce of 5,000 10,000/5000 = 10/5 = 2/1 = 200%
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