Article Preview
TopIntroduction
An organization's most important asset is its talent pool, which is one of the most demanding components for the management. To maintain the competitive advantage the organization, need to focus on motivating and inspiring the talents. Compromising with employee skills will have a detrimental effect on the business in long term effect (Schneider and Bowen, 1993). Many factors contribute to attrition and employers are keen and conscious about those which can keep the employee dedicated and engaged. Attrition can be described as subtle reduction in membership or personnel as through resignation, retirement or death (Sengupta and Gupta, 2012). They can also be explained in terms to number of employees voluntarily or involuntarily leave the organization. When any undesired factors occur, the employee- employer relationship get worse and employees tend to leave the organization. Employee attrition is approaching epidemic proportions with many companies trying to sustain a stable standard of employment in a competitive job market (Bennett et al., 1993; Bender et al.,2018). The companies make use of policies and practices to prevent employees leaving them and are referred as employee retention. With regards to holding employees’ managers ought to seek as many choices as possible while at the same time building up and maintaining their confidence and loyalty so that they have less incentive to leave in the future for the success of their organization (Singh, et al; 2012). Employee attrition leaves with a higher cost and effort for an employer, to overcome, resist and tackle the situation it is highly essential to know the reasons of attrition, their expectations from employer (Olubiyi, et al.,2019). So, it is crucial for management to create a system within the organization that can appeal for diverse workforce, meet their needs that drive motivation and keep them associated with the organization. It is an important factor as companies have to prepare to start recruiting for the positions which are critical and cannot be left vacant. Increasing attrition rates are the warnings to the company as it incurs additional cost to them. The company losses the amount of time and money spent for recruitment, training, if the issue of attrition is not addressed properly. An organization’s talent management is most successful when it effectively integrates rapid allocation of talent, positive experience for employees, and a strategic human resource team. Academic researches (Bennett, et al.,1993; Thiteand Russell, 2010; Gilbert, 2011; Bisht and Singh,2012; Haldorai, et al., 2019; Olubiyi et al.,2019) validates a number of factors that have a positive and negative effect on both voluntary and involuntary attrition, including employee morale, consistency of job knowledge, quality of partnership, work satisfaction, work demands, and emotional fatigue (Brown et al.,2015). According to Eby, Burk and Maher (2010) there is a difference between voluntary and involuntary attrition and this paper mainly focuses on voluntary attrition; which happens as employees want to resign on their own.