One common reaction when talking to people about attrition is, “Why worry about attrition? You cannot stop it, so just hire more or give everyone raises.”
High levels of employee churn have been standard in the financial services industry for years. Recently, those already high levels are on the rise. Why are employees leaving their roles at increasing rates? Here is an overview of what attrition looks like in the financial services industry and what companies can do to curb it.