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In 2023, the Philippine attrition rate and voluntary turnover increased to fifteen.9% from 14.2% the previous yr, in keeping with a study from a risk and employment consultancy company. Because of this more employees are leaving their corporations for higher salaries and growth opportunities.
From an organization perspective, this can be a potential indicator of dysfunctionality, which may lead to further problems. To deal with this issue, Kshitij Kohli, Head of Operations at Sun Life Global Solutions, has shared his insights in regards to the reasons and impacts of high attrition rates for corporations. He also discussed strategies that corporations can use to regulate their attrition rates and the way they’ll adjust to the shifting workplace demographics.
Interview by Edg Adrian A. Eva
Audio editing by Jayson John D. Mariñas
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