I have implemented a new policy for retention of employees and stop the attrition rate for new joining
1. Deduction of 10% basic salary for 2 years
2. After completion of 2 years we give money with interest
3. Only eligible after completing 2 years
So give me a draft for implementing this new policy
11. Deduction of 10% basic salary for 2 years
2. After completion of 2 years we give money with interest
3. Only eligible after completing 2 years
So give me a draft for implementing this new policy
Dear member,
I wish you had reviewed the draft of whatever you have typed before hitting the "post" button. While from the heading, one understands that you are seeking a policy to control employee attrition, the points given in the post are not understandable. Therefore, please write clearly.
Secondly, have you checked this forum on employee retention and employee turnover? I wish you had done it!
Thanks,
Dinesh Divekar
From India, Bangalore
I wish you had reviewed the draft of whatever you have typed before hitting the "post" button. While from the heading, one understands that you are seeking a policy to control employee attrition, the points given in the post are not understandable. Therefore, please write clearly.
Secondly, have you checked this forum on employee retention and employee turnover? I wish you had done it!
Thanks,
Dinesh Divekar
From India, Bangalore
On the one hand there are organisations which pay a departing bonus for those who are unable to live upto the demands of the job or the organisation culture, on the other hand your policy is to retain 10% of salary for two years. The so called retention strategy, how effective it will be remains to be seen, though at the face of it looks appealing although it gives suspicion as to whether these employees would be giving their best to the organisation.
I deplore the tendency of quite a few querists to seek draft communication from the members of this forum. Without even bothering to put up a draft of it, querist wants to avail the pro bono service rendered by the learned members of the group. Every communication in such matters has to be organisation specific and without any idea of the organisation culture, to draft anything like this would be an adventure not to be sought.
From India, Mumbai
I deplore the tendency of quite a few querists to seek draft communication from the members of this forum. Without even bothering to put up a draft of it, querist wants to avail the pro bono service rendered by the learned members of the group. Every communication in such matters has to be organisation specific and without any idea of the organisation culture, to draft anything like this would be an adventure not to be sought.
From India, Mumbai
An employer's effort to reduce the rate of employee turn over and to increase the rate of retention of employees cannot be found fault with so long as the same remains within the legal parameters.
Salary is the monetary consideration paid to the employee for the services he has already rendered. Therefore, in my opinion, any deduction made from the current salary payable as a collateral for his remaining in the service of the organization for a certain fixed period in future cannot be correct both ethically and legally. Even if it is done by way of one of the terms of the contract of employment or through the execution of an employment bond, it is void ab initio as such a term is opposed to public policy.
Uncertainty is an inevitable aspect of life to which an organization cannot be an exception. So, if the employee demands for a periodical additional payment at some fixed rate towards future retrenchment compensation in the event of the employer's inability to provide employment, will it be acceptable to any employer?
It is always better to find out the positive ways and means for employee retention rather than banking upon the employee's vulnerable status of being a weaker party to the contract of employment.
From India, Salem
Salary is the monetary consideration paid to the employee for the services he has already rendered. Therefore, in my opinion, any deduction made from the current salary payable as a collateral for his remaining in the service of the organization for a certain fixed period in future cannot be correct both ethically and legally. Even if it is done by way of one of the terms of the contract of employment or through the execution of an employment bond, it is void ab initio as such a term is opposed to public policy.
Uncertainty is an inevitable aspect of life to which an organization cannot be an exception. So, if the employee demands for a periodical additional payment at some fixed rate towards future retrenchment compensation in the event of the employer's inability to provide employment, will it be acceptable to any employer?
It is always better to find out the positive ways and means for employee retention rather than banking upon the employee's vulnerable status of being a weaker party to the contract of employment.
From India, Salem
Oh Dear...Oh Dear... Oh Dear !!
With due respect to the opinions of contributing members.
Am I to understand that you intend to hold your employees to ransom? (because that is what it sounds like).
If your attrition rate is so high, perhaps it is time to look inwards and see what you as an employer can do. Remember, it is not always about money.
Food for thought, maybe?
Regards
Harsh
From United Kingdom, Barrow
With due respect to the opinions of contributing members.
Am I to understand that you intend to hold your employees to ransom? (because that is what it sounds like).
If your attrition rate is so high, perhaps it is time to look inwards and see what you as an employer can do. Remember, it is not always about money.
Food for thought, maybe?
Regards
Harsh
From United Kingdom, Barrow
WOW, I have read some pretty disturbing stuff on this site over the last 15 odd years, but this just takes the cake. I guess your employees are all jumping for joy over this.
Just how insane are you? It's absolute madness.
Please share with us the results of your investigation into the problems of attrition in your organisation that lead to such a disastrous policy. Or are we to take it that you did no investigation, and just made an arbitary decision?
First rule of business, find out the CAUSE of the problem, then formulate a policy to deal with it. Invariably you will find it is NOT the employees' fault but rather management's. This is going to come back and bite you on the backside big time.
From Australia, Melbourne
Just how insane are you? It's absolute madness.
Please share with us the results of your investigation into the problems of attrition in your organisation that lead to such a disastrous policy. Or are we to take it that you did no investigation, and just made an arbitary decision?
First rule of business, find out the CAUSE of the problem, then formulate a policy to deal with it. Invariably you will find it is NOT the employees' fault but rather management's. This is going to come back and bite you on the backside big time.
From Australia, Melbourne
"So give me a draft for implementing this new policy" PLEASE do not DEMAND things from members on CiteHR. Common courtesy costs nothing, so learn to use the words PLEASE and THANK YOU.
From Australia, Melbourne
From Australia, Melbourne
I disagree with the deduction in salary to be given at a latter date with interest.
It is unfair to the employees and will be have opposite effect.
Also consider employing staff for drafting rules and regulations
Col.Suresh Rathi
From India, Delhi
It is unfair to the employees and will be have opposite effect.
Also consider employing staff for drafting rules and regulations
Col.Suresh Rathi
From India, Delhi
My opinion / Suggestion on the above after going through the above discussion:
First of all had the querist has data of attrition and reasons for the same, no information.
Seems he laid down a policy and seeking some sort of a ratification or indirect approval in this forum for his action.
I wish to say, any deduction from employee salary for retention will be a demotivating factor. Forget about retention, you may not attract unless your officer will be huge.
Secondly, is it legal to deduct in the name of retention. You are saying if he works for two years with you only repayment will be made. In case he has to leave for some reasons then what will happen! can your organization enrich unjustifiably?
Finally, as a HR person your strategy mush be towards motivating, encouraging and enticing employees towards your organization and by force or this kind of policies. This kind of policies give disastrous results in long run affecting organization in toto.
Dear Friend,
Please think in a positive way. your intention for retention is good but the actions not.
From India, Hyderabad
First of all had the querist has data of attrition and reasons for the same, no information.
Seems he laid down a policy and seeking some sort of a ratification or indirect approval in this forum for his action.
I wish to say, any deduction from employee salary for retention will be a demotivating factor. Forget about retention, you may not attract unless your officer will be huge.
Secondly, is it legal to deduct in the name of retention. You are saying if he works for two years with you only repayment will be made. In case he has to leave for some reasons then what will happen! can your organization enrich unjustifiably?
Finally, as a HR person your strategy mush be towards motivating, encouraging and enticing employees towards your organization and by force or this kind of policies. This kind of policies give disastrous results in long run affecting organization in toto.
Dear Friend,
Please think in a positive way. your intention for retention is good but the actions not.
From India, Hyderabad
Well, employees may be retained by some other way rather than imposing a sort of fine with interest from their take home salary.
Why don't you consider introducing some sort of employees' retention (benefit) scheme wherein you would also be an equal partner as far as contribution is concerned?
Again this forum is not to draft the policies for anyone. You need to grasp the contents from here and there to formulate your own draft keeping in view your area's prevailing laws.
Saleem Raza
Sr. Manager Finance
From Pakistan, Rawalpindi
Why don't you consider introducing some sort of employees' retention (benefit) scheme wherein you would also be an equal partner as far as contribution is concerned?
Again this forum is not to draft the policies for anyone. You need to grasp the contents from here and there to formulate your own draft keeping in view your area's prevailing laws.
Saleem Raza
Sr. Manager Finance
From Pakistan, Rawalpindi
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