A Predictive Model for Engineering Employee Attrition Based on Economic Trends in Federal Government Agencies
Open Access DepositedEmployee turnover introduces several risks, including loss of knowledge, delayed timelines, reduced productivity, quality issues, and reduced morale. When team members leave, they take their expertise and knowledge with them. This can be especially problematic if they were vital contributors to the project or had specialized skills. When team members leave, productivity may decrease due to the need to train new team employees, adjust to changes in team dynamics, and deal with the administrative tasks associated with turnover. A follow-on consequence is that new team members may have a different experience or understanding of the project requirements than those working on the project for an extended period. This can lead to quality issues and errors in the final product. A work environment with frequent turnover can lead to low morale among remaining team members, who may feel overworked or uncertain about the project's future. The impacts of these risks lead to increased costs in the product life cycle trickling down to the customer or impacting the business financials directly. Turnover can result in increased costs, such as hiring and training new team members or paying for overtime to make up for lost time to mitigate these risks. It is essential to have a solid plan for managing turnover, including documenting processes and procedures, cross-training team members, and developing a knowledge management strategy.
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