Dear Friends,
In todays scenario,Attrition is one of the major problems companies are facing & this is not with any speciffic sector, but everywhere.could you contribute new ideas for controlling the growing attrition rate.
Regards
Vineeta Raghuwanshi
From India, Mumbai
1In todays scenario,Attrition is one of the major problems companies are facing & this is not with any speciffic sector, but everywhere.could you contribute new ideas for controlling the growing attrition rate.
Regards
Vineeta Raghuwanshi
From India, Mumbai
Hi Vineetha,
Here are some interesting Retention Tools which I came across-
1. Offer fair and competitive salaries. Fair compensation alone does not guarantee employee loyalty, but offering below-market wages makes it much more likely that employees will look for work elsewhere. In fact, research shows that if incomes lag behind comparable jobs at a company across town by more than 10 percent, workers are likely to bolt. To retain workers, conduct regular reviews of the salaries you offer for all job titles — entry-level, experienced staff and supervisory-level. Compare your department's salaries with statistically reliable averages. If there are significant discrepancies, you probably should consider making adjustments to ensure that you are in line with the marketplace.
2. Remember that benefits are important too. Although benefits are not a key reason why employees stick with a company, the benefits you offer can't be markedly worse than those offered by your competitors
3. Train your front-line supervisors, managers and administrators. It can't be said often enough: People stay or leave because of their bosses, not their companies. A good employee/manager relationship is critical to employee satisfaction and retention. Make sure your managers aren't driving technologists away. Give them the training they need to develop good supervisory and people-management skills.
4. Clearly define roles and responsibilities. Develop a formal job description for each title or position in your department. Make sure your employees know what is expected of them every day, what types of decisions they are allowed to make on their own, and to whom they are supposed to report.
5. Provide adequate advancement opportunities. To foster employee loyalty, implement a career ladder and make sure employees know what they must do to earn a promotion. Conduct regular performance reviews to identify employees' strengths and weaknesses, and help them improve in areas that will lead to job advancement. A clear professional development plan gives employees an incentive to stick around.
6. Offer retention bonuses instead of sign-on bonuses. Worker longevity typically is rewarded with an annual raise and additional vacation time after three, five or 10 years. But why not offer other seniority-based rewards such as a paid membership in the employee's professional association after one year, a paid membership to a local gym after two years, and full reimbursement for the cost of the employee's uniforms after three years? Retention packages also could be designed to raise the salaries of technologists who become credentialed in additional specialty areas, obtain additional education or take on more responsibility. Sign-on bonuses encourage technologists to skip from job to job, while retention packages offer incentives for staying.
7. Make someone accountable for retention. Measure your turnover rate and hold someone (maybe you!) responsible for reducing it. In too many workplaces, no one is held accountable when employees leave, so nothing is done to encourage retention.
8. Conduct employee satisfaction surveys. You won't know what's wrong ... or what's right … unless you ask. To check the pulse of your workplace, conduct anonymous employee satisfaction surveys on a regular basis. One idea: Ask employees what they want more of and what they want less of.
9. Foster an environment of teamwork. It takes effort to build an effective team, but the result is greater productivity, better use of resources, improved customer service and increased morale. Here are a few ideas to foster a team environment in your department:
• Make sure everyone understands the department's purpose, mission or goal.
• Encourage discussion, participation and the sharing of ideas.
• Rotate leadership responsibilities depending on your employees' abilities and the needs of the team.
• Involve employees in decisions; ask them to help make decisions through consensus and collaboration.
• Encourage team members to show appreciation to their colleagues for superior performance or achievement.
10. Reduce the paperwork burden. If your technologists spend nearly as much time filling out paperwork, it's time for a change. Paperwork pressures can add to the stress and burnout that employees feel. Eliminate unnecessary paperwork; convert more paperwork to an electronic format; and hire non-tech administrative staff to take over as much of the paperwork burden as is allowed under legal or regulatory restrictions.
11. Make room for fun. Celebrate successes and recognize when milestones are reached. Potluck lunches, birthday parties, employee picnics and creative contests will help remind people why your company is a great place to work.
12. Write a mission statement for your department. Everyone wants to feel that they are working toward a meaningful, worthwhile goal. Work with your staff to develop a departmental mission statement, and then publicly post it for everyone to see. Make sure employees understand how their contribution is important.
13. Provide a variety of assignments. Identify your employees' talents and then encourage them to stretch their abilities into new areas. Do you have a great "teacher" on staff? Encourage him/ her to lead an in-service or present a poster session on an interesting case. Have someone who likes planning and coordinating events? Ask him to organize a departmental open house. Know a good critical-thinker? Ask him/ her to work with a vendor to customize applications training on a new piece of equipment. A variety of challenging assignments helps keep the workplace stimulating.
14. Communicate openly. Employees are more loyal to a company when they believe managers keep them informed about key issues. Is a corporate merger in the works? Is a major expansion on the horizon? Your employees would rather hear it from you than from the evening newscast. It is nearly impossible for a manager to "over-communicate."
15. Encourage learning. Create opportunities for your technologists to grow and learn. Reimburse them for CE courses, seminars and professional meetings; discuss recent journal articles with them; ask them to research a new scheduling method for the department. Encourage every employee to learn at least one new thing every week, and you'll create a work force that is excited, motivated and committed.
16. Be flexible. Today's employees have many commitments outside their job, often including responsibility for children, aging parents, chronic health conditions and other issues. They will be loyal to workplaces that make their lives more convenient by offering on-site childcare centers, on-site hair styling and dry cleaning, flexible work hours, part-time positions, job-sharing or similar practices. For example, employees of school-age children might appreciate the option to work nine months a year and have the summers off to be with their children.
17. Develop an effective orientation program. Implement a formal orientation program that's at least three weeks long and includes a thorough overview of every area of your department and an introduction to other departments. Assign a senior staff member to act as a mentor to the new employee throughout the orientation period. Develop a checklist of topics that need to be covered and check in with the new employee at the end of the orientation period to ensure that all topics were adequately addressed.
18. Give people the best equipment and supplies possible. No one wants to work with equipment that's old or constantly breaking down. Ensure that your equipment is properly maintained, and regularly upgrade machinery, computers and software. In addition, provide employees with the highest quality supplies you can afford. Cheap, leaky pens may seem like a small thing, but they can add to employees' overall stress level.
19. Show your employees that you value them. Recognize outstanding achievements promptly and publicly, but also take time to comment on the many small contributions your staff makes every day to the organization's mission. Don't forget — these are the people who make you look good!
Regards,
Amit Seth.
From India, Ahmadabad
Here are some interesting Retention Tools which I came across-
1. Offer fair and competitive salaries. Fair compensation alone does not guarantee employee loyalty, but offering below-market wages makes it much more likely that employees will look for work elsewhere. In fact, research shows that if incomes lag behind comparable jobs at a company across town by more than 10 percent, workers are likely to bolt. To retain workers, conduct regular reviews of the salaries you offer for all job titles — entry-level, experienced staff and supervisory-level. Compare your department's salaries with statistically reliable averages. If there are significant discrepancies, you probably should consider making adjustments to ensure that you are in line with the marketplace.
2. Remember that benefits are important too. Although benefits are not a key reason why employees stick with a company, the benefits you offer can't be markedly worse than those offered by your competitors
3. Train your front-line supervisors, managers and administrators. It can't be said often enough: People stay or leave because of their bosses, not their companies. A good employee/manager relationship is critical to employee satisfaction and retention. Make sure your managers aren't driving technologists away. Give them the training they need to develop good supervisory and people-management skills.
4. Clearly define roles and responsibilities. Develop a formal job description for each title or position in your department. Make sure your employees know what is expected of them every day, what types of decisions they are allowed to make on their own, and to whom they are supposed to report.
5. Provide adequate advancement opportunities. To foster employee loyalty, implement a career ladder and make sure employees know what they must do to earn a promotion. Conduct regular performance reviews to identify employees' strengths and weaknesses, and help them improve in areas that will lead to job advancement. A clear professional development plan gives employees an incentive to stick around.
6. Offer retention bonuses instead of sign-on bonuses. Worker longevity typically is rewarded with an annual raise and additional vacation time after three, five or 10 years. But why not offer other seniority-based rewards such as a paid membership in the employee's professional association after one year, a paid membership to a local gym after two years, and full reimbursement for the cost of the employee's uniforms after three years? Retention packages also could be designed to raise the salaries of technologists who become credentialed in additional specialty areas, obtain additional education or take on more responsibility. Sign-on bonuses encourage technologists to skip from job to job, while retention packages offer incentives for staying.
7. Make someone accountable for retention. Measure your turnover rate and hold someone (maybe you!) responsible for reducing it. In too many workplaces, no one is held accountable when employees leave, so nothing is done to encourage retention.
8. Conduct employee satisfaction surveys. You won't know what's wrong ... or what's right … unless you ask. To check the pulse of your workplace, conduct anonymous employee satisfaction surveys on a regular basis. One idea: Ask employees what they want more of and what they want less of.
9. Foster an environment of teamwork. It takes effort to build an effective team, but the result is greater productivity, better use of resources, improved customer service and increased morale. Here are a few ideas to foster a team environment in your department:
• Make sure everyone understands the department's purpose, mission or goal.
• Encourage discussion, participation and the sharing of ideas.
• Rotate leadership responsibilities depending on your employees' abilities and the needs of the team.
• Involve employees in decisions; ask them to help make decisions through consensus and collaboration.
• Encourage team members to show appreciation to their colleagues for superior performance or achievement.
10. Reduce the paperwork burden. If your technologists spend nearly as much time filling out paperwork, it's time for a change. Paperwork pressures can add to the stress and burnout that employees feel. Eliminate unnecessary paperwork; convert more paperwork to an electronic format; and hire non-tech administrative staff to take over as much of the paperwork burden as is allowed under legal or regulatory restrictions.
11. Make room for fun. Celebrate successes and recognize when milestones are reached. Potluck lunches, birthday parties, employee picnics and creative contests will help remind people why your company is a great place to work.
12. Write a mission statement for your department. Everyone wants to feel that they are working toward a meaningful, worthwhile goal. Work with your staff to develop a departmental mission statement, and then publicly post it for everyone to see. Make sure employees understand how their contribution is important.
13. Provide a variety of assignments. Identify your employees' talents and then encourage them to stretch their abilities into new areas. Do you have a great "teacher" on staff? Encourage him/ her to lead an in-service or present a poster session on an interesting case. Have someone who likes planning and coordinating events? Ask him to organize a departmental open house. Know a good critical-thinker? Ask him/ her to work with a vendor to customize applications training on a new piece of equipment. A variety of challenging assignments helps keep the workplace stimulating.
14. Communicate openly. Employees are more loyal to a company when they believe managers keep them informed about key issues. Is a corporate merger in the works? Is a major expansion on the horizon? Your employees would rather hear it from you than from the evening newscast. It is nearly impossible for a manager to "over-communicate."
15. Encourage learning. Create opportunities for your technologists to grow and learn. Reimburse them for CE courses, seminars and professional meetings; discuss recent journal articles with them; ask them to research a new scheduling method for the department. Encourage every employee to learn at least one new thing every week, and you'll create a work force that is excited, motivated and committed.
16. Be flexible. Today's employees have many commitments outside their job, often including responsibility for children, aging parents, chronic health conditions and other issues. They will be loyal to workplaces that make their lives more convenient by offering on-site childcare centers, on-site hair styling and dry cleaning, flexible work hours, part-time positions, job-sharing or similar practices. For example, employees of school-age children might appreciate the option to work nine months a year and have the summers off to be with their children.
17. Develop an effective orientation program. Implement a formal orientation program that's at least three weeks long and includes a thorough overview of every area of your department and an introduction to other departments. Assign a senior staff member to act as a mentor to the new employee throughout the orientation period. Develop a checklist of topics that need to be covered and check in with the new employee at the end of the orientation period to ensure that all topics were adequately addressed.
18. Give people the best equipment and supplies possible. No one wants to work with equipment that's old or constantly breaking down. Ensure that your equipment is properly maintained, and regularly upgrade machinery, computers and software. In addition, provide employees with the highest quality supplies you can afford. Cheap, leaky pens may seem like a small thing, but they can add to employees' overall stress level.
19. Show your employees that you value them. Recognize outstanding achievements promptly and publicly, but also take time to comment on the many small contributions your staff makes every day to the organization's mission. Don't forget — these are the people who make you look good!
Regards,
Amit Seth.
From India, Ahmadabad
Hi Vineet,
As I always say; primary causes for Attrition Could be
1. Person - Job Mismatch
2. Lack of empowering individuals with resources and Training (Tech or Soft skills)
3. Lack in the area of giving add value feedback to employee and keeping communication channels open.
4. Better pay or recognition for same job else where.Here one finds that if company values the person a lot and shows the same appreciation & puts one in the right talent area with due recognition, the person is less likely to leave.
Points no 1-3 are more easily controllable than the last one. We are into Assessment tools and Assessment based Training. Both are of great value to Corporates and individuals involved. For more details contact
Have a nice Day!
sujatha
Head-Assessments & Training Div
Pravarra
"Work is an expression of who you are, so who you are needs to be worked at."-SJV
From India, Bhilai
As I always say; primary causes for Attrition Could be
1. Person - Job Mismatch
2. Lack of empowering individuals with resources and Training (Tech or Soft skills)
3. Lack in the area of giving add value feedback to employee and keeping communication channels open.
4. Better pay or recognition for same job else where.Here one finds that if company values the person a lot and shows the same appreciation & puts one in the right talent area with due recognition, the person is less likely to leave.
Points no 1-3 are more easily controllable than the last one. We are into Assessment tools and Assessment based Training. Both are of great value to Corporates and individuals involved. For more details contact
Have a nice Day!
sujatha
Head-Assessments & Training Div
Pravarra
"Work is an expression of who you are, so who you are needs to be worked at."-SJV
From India, Bhilai
Dear Amit
I started to write something to Vineeta but when I read your reply to Vineeta I stopped :wink: ! as your reply is so comprehensive and wonderful I need not add any further to it. :)
Keep up the good work
Regards
Sultana
From United Arab Emirates, Dubai
I started to write something to Vineeta but when I read your reply to Vineeta I stopped :wink: ! as your reply is so comprehensive and wonderful I need not add any further to it. :)
Keep up the good work
Regards
Sultana
From United Arab Emirates, Dubai
Dear Amit,
Thank you so much for giving such valuable points which really are of a great help to reduce the attrition rate as it is the most difficult problem companies are facing today, thank you once again.
From India, Mumbai
Thank you so much for giving such valuable points which really are of a great help to reduce the attrition rate as it is the most difficult problem companies are facing today, thank you once again.
From India, Mumbai
Dear Amit Seth Sir,
I became your 'FAN'. I always like your suggestions in the forum. I started keeping track of your suggestions. Sir, I need your contact details, for disturbing you over phone or email. So please email me your email ID & mobile No. .
I shall be very much thankful to you.
With Regards,
Rahul Tiwari
Mbl. No. 9415224175
Email :
/ 
From India, Ambala
I became your 'FAN'. I always like your suggestions in the forum. I started keeping track of your suggestions. Sir, I need your contact details, for disturbing you over phone or email. So please email me your email ID & mobile No. .
I shall be very much thankful to you.
With Regards,
Rahul Tiwari
Mbl. No. 9415224175
Email :
From India, Ambala
Thank U Saurabh n Rahul for your such a nice appreciation.. :D
Dear Rahul, its a great pleasure for me that like my posts n suggestions..
You may contact me at
..
Once again thank u all.. :D
Regards,
Amit Seth.
From India, Ahmadabad
Dear Rahul, its a great pleasure for me that like my posts n suggestions..
You may contact me at
Once again thank u all.. :D
Regards,
Amit Seth.
From India, Ahmadabad
Hi Amit,
These are really valuable inputs.
However i will pose a question that has been plaguing me for quite some time.
I am working in a very reputed CRM firm. Its a huge company, a big brand that offers a lot of benefit to its employees:
1) Brand Value
2) Competitive salary (was the highest payer in the Industry a month back)
3) All 'wow' benefits (gym, gold course, mini theatre, etc etc). all things that can attract a young person
4) Motivational activities like floor games etc
5) a clear growth path
6) an open leadership (anybody can walk upto the Site Head and ask for help
7) aggressively working on counseling employees who are Absconding and who have problems
Inspite of all this employees are leaving.
Most of the BPOs and CRM firms are trying to compete on level grounds. Everyone will have flor games, reward and recognition programs , will provide them with best of the facilites then how can my company enable employees to stay.
There is no seriousness in these youngsters who want to earn some bucks and leave.
How do we change the perception of this industry?
Please share your thoughts
DK
From India, Mumbai
These are really valuable inputs.
However i will pose a question that has been plaguing me for quite some time.
I am working in a very reputed CRM firm. Its a huge company, a big brand that offers a lot of benefit to its employees:
1) Brand Value
2) Competitive salary (was the highest payer in the Industry a month back)
3) All 'wow' benefits (gym, gold course, mini theatre, etc etc). all things that can attract a young person
4) Motivational activities like floor games etc
5) a clear growth path
6) an open leadership (anybody can walk upto the Site Head and ask for help
7) aggressively working on counseling employees who are Absconding and who have problems
Inspite of all this employees are leaving.
Most of the BPOs and CRM firms are trying to compete on level grounds. Everyone will have flor games, reward and recognition programs , will provide them with best of the facilites then how can my company enable employees to stay.
There is no seriousness in these youngsters who want to earn some bucks and leave.
How do we change the perception of this industry?
Please share your thoughts
DK
From India, Mumbai
Hi friends,
Thanks a lot for ur contribution.
Amit you had cleared almost every point in details & also sujatha helped to make thngs clear,tht will surely help me out in dealing with ths challenge.
but i want to ask one thng more,wht about outsource companies.inspite of focus on these tools, sometimes the evironment associates faces thru clients end plays a major roll in increasing attrition rate.so how we can cater ths?
Regards
Vineeta Raghuwanshi
From India, Mumbai
Thanks a lot for ur contribution.
Amit you had cleared almost every point in details & also sujatha helped to make thngs clear,tht will surely help me out in dealing with ths challenge.
but i want to ask one thng more,wht about outsource companies.inspite of focus on these tools, sometimes the evironment associates faces thru clients end plays a major roll in increasing attrition rate.so how we can cater ths?
Regards
Vineeta Raghuwanshi
From India, Mumbai
WHY PEOPLE LEAVE AN ORGANISATION. WHY OF EACH SUBJECT HAS TO BE DETERMINED IN A LOGICAL MANNER. NORMALLY, PEOPLE SWITCH OVER AS THEY GET BETTER SALARIES, BETTER WORKING ENVIRONMENT, BETTER ORGANISATION, BETTER CHANCES OF GETTING PROMOTIONS. WITH THE NEWER OPPORTUNITES KNOCKING AT THE DOORS, THESE TEMPTATIONS ARE NORMAL FOR ALL HUMAN BEINGS. I AM OF THIS CONSIDERED VIEW THAT ATTRITION CAN NOT BE ALL TOGETHER STOPPED. LET THE ORGANISATION WHERE AN EMPLOYEE IS WORKING PROVE TO BE THE BEST. NO BODY WILL MOVE OUT .
DEEPAK THUKRAL
CHANDIGARH
From India, Chandigarh
DEEPAK THUKRAL
CHANDIGARH
From India, Chandigarh
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Attrition Control and Retention Strategies for Changing times.ppt
Attrition-rate. xls