“Digging into attrition data can uncover problems you might miss on the surface. For instance, if Black employees leave in droves in year two of employment at your company, you have a problem.”
When measuring a company’s DEI status, leaders tend to look at familiar analytics such as salaries, hiring rates, and racial composition. One metric that is often overlooked is attrition – the rate at which employees are leaving a company. Even companies with robust DEI initiatives can face a frustrating loop of hiring diverse talent, losing employees, and beginning the talent acquisition process over again. Significant disparities in attrition data between groups can be red flags for underlying issues within a company.
If attrition data is closely monitored, leaders can better understand what areas of their company might be turning employees off. Advancement opportunities, representation within leadership, and the willingness of executives to listen are just a few factors that can directly influence attrition rates.
It is imperative for leaders to understand, track, and respond to measurements such as attrition rates. Reach out to the ideascape team to find out how we can assist you with leveraging your company’s data to address gaps in DEI.