![]() Impact on Key Industries in the Philippines Some companies have even closed specific business units as part of their efforts to minimize operational expenses.ĭue to more employment opportunities, the voluntary attrition rate has risen in other industries, like shared services (15.8%), non-financial services (15.1%), and high-tech (13.2%). To cut costs, some industries in the Philippines have resorted to terminating employees, unintentionally contributing to attrition rates. ![]() ![]() It can cause high business costs, resulting in decreased employee morale, higher hiring and training costs, and lost productivity. The Impact of Attrition Rates on Business Costs and ProductivityĮmployers frequently struggle to find and keep mid-career professionals since few eligible applicants exist. These factors contribute significantly to employee churn. Job dissatisfaction and e mployee turnover are primarily driven by limited career progression, low pay, inadequate employee benefits, poor leadership and management, and work-life balance issues. In the BPO industry, the attrition rate reaches as high as 30% to 40%, significantly higher than the average across all sectors. The attrition rate in the Philippines, particularly in the business process outsourcing (BPO) industry, is a major concern for many employers. Among Southeast Asian countries, the Philippines has one of the highest attrition rates, with 18%, second only to Singapore at 19.6%. ![]()
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