NATURAL WASTAGE Meaning and
Definition
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Natural wastage, also known as attrition or involuntary turnover, refers to the gradual reduction in the employee count of a company or organization that occurs over time through natural means, such as retirement, resignation, or death, rather than by proactive termination. It is a process by which employees leave a company or organization on their own accord due to personal reasons or circumstances beyond the control of the employer.
This term is commonly used in the field of human resources management to describe the normal and expected occurrence of employee departures that takes place without the need for employer intervention or action. Unlike layoffs or terminations, natural wastage is a passive and unplanned phenomenon that is often seen as a natural part of workforce dynamics and the career life cycle.
Natural wastage typically occurs as a result of age, career development, personal choices, and changing circumstances. It may be influenced by factors such as retirement benefits, family commitments, career advancements, relocation, or pursuing other professional opportunities. Organizations may often anticipate and plan for natural wastage by implementing succession planning strategies or by forecasting to ensure a seamless transition and continuity within the workforce.
Overall, natural wastage reflects the normal ebb and flow of personnel within an organization, resulting from employees leaving the company naturally through retirement, resignation, or passing away, rather than due to any specific action or decision taken by the employer.
Common Misspellings for NATURAL WASTAGE
- batural wastage
- matural wastage
- jatural wastage
- hatural wastage
- nztural wastage
- nstural wastage
- nwtural wastage
- nqtural wastage
- narural wastage
- nafural wastage
- nagural wastage
- nayural wastage
- na6ural wastage
- na5ural wastage
- natyral wastage
- nathral wastage
- natjral wastage
- natiral wastage
- nat8ral wastage
- nat7ral wastage
Etymology of NATURAL WASTAGE
The term "natural wastage" is a business jargon used to describe attrition or the gradual reduction of personnel or resources in an organization without using forceful methods like lay-offs or redundancies.
The word "wastage" itself dates back to around the 18th century and is derived from the verb "waste", which means to consume, use, or spend thoughtlessly, without care or in an inefficient manner. The term originally referred to the process of wasting or squandering something, often associated with resources like food or materials.
As for the addition of "natural" to the term, it implies that the reduction or decrease in personnel or resources occurs by natural means, without any artificial intervention or external influence. It signifies that the decrease is a regular part of the organization's natural functioning, such as retirements, resignations, or voluntary exits due to personal reasons.
