Boardroom hypes (2) – Attrition
Just the other day a seasoned international executive complained about what he called “attrition-ridden” cities.
Of course, with war for talent increasing globally and especially in certain “hot-spots”, staff will more easily hop from one employer to another.
But is it all to blame on a location?
I recently visited with two companies in Bangalore. Both outsourcing services providers (in Finance and Admin). Located just 5 miles apart on the Eastern-end of the city (an area called “Southfields”).
One had 25% attrition annually, the other less than 5%.
I could cite similar examples in Budapest, Gdansk, Costa Rica and other destinations.
They just lead me to firmly believe that for a larger part, attrition is determined by how companies structure and manage their workforce, and by where and how they locate in a city.
Of course, blaming it on a location is the easier thing to do.