In the working world (is there any other world?), employee attrition can be defined as the departure of employees from your company regardless of the reason, voluntary or involuntary. These reasons can range from resignation to termination, death or retirement, and they all have a cost associated with them that vary in severity and form.
There are times when a People Team really has no control over the attrition of employees. For example, attrition could stem from a response to the market or lack of success as a company leading to workforce reduction, which seems like cost savings on the ledger, but could have mental health costs to remaining employees that don’t show up as a line item until they too seek the exit.
Aside from bringing in the best talent possible for every open rec, one of the most important charges a People Team has is to do everything in its power to proactively minimize employee attrition. This is why today there is so much emphasis being placed on the way in which companies manage a leave of absence. Mucking up a miscarriage leave can break an employee’s trust in an organization forever, conversely, showing empathy and holistic support in an employee’s most critical life moments can help build an unbreakable bond between your company and your people.
To underscore the importance of getting Leave Management right, let’s break down the different costs associated with getting it wrong.
Retention is often really about proactivity. Companies who take initiative on behalf of their people without waiting for the [redacted] to hit the fan first are more likely to develop a culture of trust and compassion. An engaged workforce is a motivated workforce, and today’s workforce wants to be treated like a human, especially when life is calling on them to step away from work.
Making an employee’s leave journey easy, supportive and positive can do wonders for an organization’s retention by not only keeping your existing employees happy, but also by showing prospective talent that your organization cares about its people. Being human and supporting leaves of absence doesn’t have to be hard, but failing to do so could mean hard times for your company.
Tilt is leading the charge in all things leave of absence management through easy-to-use tech and human touch. Since 2017, our proprietary platform and Empathy Warriors have been helping customers make leave not suck by eliminating administrative burdens, keeping companies compliant, and providing a truly positive and supportive leave of absence experience for their people.
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