Dear Friends,
Employee turnover is expected to rise to 26.9% in 2013 compared with 26% in 2010, which is the highest in the world according to the Hay Group study, raising concerns about employee engagement and retention. Despite all the noise made in conferences, HR summits, workshops, and training programs, has anything changed at the ground level? Where is HR lacking? What is your take?
Regards,
Anil Kaushik
Business Manager :: Making HR People Complete
From India, Delhi
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181Employee turnover is expected to rise to 26.9% in 2013 compared with 26% in 2010, which is the highest in the world according to the Hay Group study, raising concerns about employee engagement and retention. Despite all the noise made in conferences, HR summits, workshops, and training programs, has anything changed at the ground level? Where is HR lacking? What is your take?
Regards,
Anil Kaushik
Business Manager :: Making HR People Complete
From India, Delhi
Acknowledge(0)Amend(0)
I would like to know if the 'Attrition' rate at middle and senior levels has contributed to the overall increase in percentages. Well, at the entry-level job change seems to be more of a trend; youngsters want to have a new experience every year. Their main requirements are more money and more fun. Very few get fascinated by more challenges and an opportunity to learn. And those who do so, stay on for a couple of years and then look out for their market worth and finally go in for a change. And there should be nothing alarming about this trend; such a migration from small companies --> mid-size --> MNCs and sometimes in the reverse order (only 3 - 5%) will continue unmindful of the effort put in to retain people.
But more important for the organizations is to arrest the move of talent (the real contributors to business). Who form part of the 'Talent pool' of the organization and what effort should be put in to retain them should be the real concern? Thus, an increase in % attrition from the talent pool shall worry me more than the statistics presented in the study.
Organizations utilizing 'EmpXtrack' to identify talent pipelines have successfully launched initiatives to retain their best lot, and probably their second best too. I find no major cause for concern where the choice of technology is appropriate, where organizations don't have any fixed ideas on their compensation philosophy and where attractive incentive schemes are considered as the drivers of retention.
From India, Delhi
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But more important for the organizations is to arrest the move of talent (the real contributors to business). Who form part of the 'Talent pool' of the organization and what effort should be put in to retain them should be the real concern? Thus, an increase in % attrition from the talent pool shall worry me more than the statistics presented in the study.
Organizations utilizing 'EmpXtrack' to identify talent pipelines have successfully launched initiatives to retain their best lot, and probably their second best too. I find no major cause for concern where the choice of technology is appropriate, where organizations don't have any fixed ideas on their compensation philosophy and where attractive incentive schemes are considered as the drivers of retention.
From India, Delhi
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Employee-retent ion-plan_1__185 .pdf
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