Hi all, One month ago i joined a small company as HR & ADMIN, this is my first job as HR - ADMIN. the issue is people don't stick with the company for long. they just work for max 3 months and leave the job so my director wants me to prepare a bond agreement for a manager for 2 years so that he cant leave the company before 2 years. kindly share format of bond agreement for higher level designation.
From India, Bengaluru
From India, Bengaluru
Dear Jyoti,
You have approached this forum for the format of the agreement between employer and employee for the lock-in period of the employment. However, have you studied the efficacy of these agreements? Such agreements may create deterrence but do these bonds really have positive impact on the business? To contain employee attrition, it is important to make service conditions attractive. What steps have you taken to do that?
Let me give you another viewpoint as of now.
If employee attrition has increased then the first thing that has to be done is to do "Employee Attrition Analysis". Have you done that?
Secondly, you could have checked this forum before raising this query. Look at the right side bar and you will find the posts about attrition analysis. Earlier, I had given exhaustive reply about attrition analysis. Check the following link to refer it:
https://www.citehr.com/519562-employ...ml#post2211229
Earlier there was a report on Times of India on why employees quit their companies. Click the following link to refer it:
Bosses, not money, make staff stick to company - Times of India
Go through the above links, do the attrition analysis and come back to this forum with your action plan to contain the attrition. Last but not the least, what about your management, are they worried about employee attrition? Will you get support from them to retain employees?
Thanks,
Dinesh Divekar
From India, Bangalore
7879You have approached this forum for the format of the agreement between employer and employee for the lock-in period of the employment. However, have you studied the efficacy of these agreements? Such agreements may create deterrence but do these bonds really have positive impact on the business? To contain employee attrition, it is important to make service conditions attractive. What steps have you taken to do that?
Let me give you another viewpoint as of now.
If employee attrition has increased then the first thing that has to be done is to do "Employee Attrition Analysis". Have you done that?
Secondly, you could have checked this forum before raising this query. Look at the right side bar and you will find the posts about attrition analysis. Earlier, I had given exhaustive reply about attrition analysis. Check the following link to refer it:
https://www.citehr.com/519562-employ...ml#post2211229
Earlier there was a report on Times of India on why employees quit their companies. Click the following link to refer it:
Bosses, not money, make staff stick to company - Times of India
Go through the above links, do the attrition analysis and come back to this forum with your action plan to contain the attrition. Last but not the least, what about your management, are they worried about employee attrition? Will you get support from them to retain employees?
Thanks,
Dinesh Divekar
From India, Bangalore
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BOND AGREEMENT and bond demand_compress ed.pdf
Training Agreement - Bond - Draft.doc