What is Shrinkage and Attrition and how to calculate.

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Shrinkage and attrition are terms used in business to describe loss of resources and employees respectively. Shrinkage is calculated as a percentage of lost inventory, while attrition is calculated as a percentage of employees leaving the company.

Shrinkage refers to the loss of inventory or assets due to theft, damage, errors, or other factors.
Shrinkage can be calculated by dividing the value of lost inventory by the total value of inventory, and then multiplying by 100 to get a percentage.
Attrition refers to the rate at which employees leave a company, usually due to resignation, retirement, or termination.
Attrition can be calculated by dividing the number of employees who left during a certain period by the average number of employees during that period, and then multiplying by 100 to get a percentage.

What is Shrinkage and Attrition and how to calculate.

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