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Attrition Rates In Asia
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Retention Home » Attrition Rates in Asia
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In Asia, organizations faced an overall attrition rate of 16% in 2005. Attrition rate was 14% in 2004 and 10% in 2003.
According to Hewitt’s Attrition and Retention Study Asia Pacific 2006, the no.1 reason for this growing attrition rate is compensation unfairness. 21% of the organizations who took part in the survey said that their employee left the organization because they got offers from other organizations offering better pay packages. The no. 2 reason was less growth opportunities and no. 3 reason was role stagnation.
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The study also revealed that the top employee retention strategy being used by the organizations in Asia was to pay above the industry standards, providing opportunities to employees to learn new skills, and provide work life balance.
From employee point of view
According to the employees, attrition at the professional/supervisor/technical level was the highest (39%) and lowest at the senior/top management level (1% approximately).
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