hello all check it out and let me know more on it. i hope it will help everybody. pls find attachment
From India, Mumbai
From India, Mumbai
Hi Naveen,
That was a good one.
But my experience today says that in this dynamic market even these measure don't really help as organisation in their run for meeting the number game are just attracting talents by paying them exhorbitant packages, whether they are worth it or not and the organisations who work on ethics are the sufferers.
Today there are very few techno savvy lot who would go for a good technical environment and forgo the higher package bait that the biggies of the industries offer.
Hence unless and until there is some sort of uniformity in the salary slabs across the industry everyone will have to fight this monster called retention.
Rupa.
From India, Pune
That was a good one.
But my experience today says that in this dynamic market even these measure don't really help as organisation in their run for meeting the number game are just attracting talents by paying them exhorbitant packages, whether they are worth it or not and the organisations who work on ethics are the sufferers.
Today there are very few techno savvy lot who would go for a good technical environment and forgo the higher package bait that the biggies of the industries offer.
Hence unless and until there is some sort of uniformity in the salary slabs across the industry everyone will have to fight this monster called retention.
Rupa.
From India, Pune
Dear all,
These are discussions Sr. HR guys engage in on a partcular forum. I am sending you the relevant cut outs. Read them all as these are from experience sharing and have a lot of results from practice.
regards
Santosh
1. What do you identify as major reasons for attrition?
Global outsourcing and the astounding amount of foreign direct investment pouring into China, Russia, and India have created tremendous opportunities and competition for talented IT professionals in those countries. The downside of this increased competition is a rising rate of attrition, particularly in India. The main reason for employees leaving is voluntary departure, no career progression, unsuitable for position and lack of skills. It is not night shifts, monotony of work and quest for salary jumps, which are leading to an exodus of employees; instead, it is the lack of growth avenue that is driving more people out of organisations.
Attrition also happens when people hate their working conditions, do not like their team-mates or perhaps do not like what they are doing. There are also cases when people leave their job for family reasons or when they wish to migrate.
The reasons are too varied to be clubbed together, but the bottom line remains the same—it is all about money! And the result—heavy attrition.
According to a Hill & Associates study on the challenges of retention in the Indian outsourcing sector, more than 50 per cent of the 1,000 respondents attributed their exits to lack of growth avenues, expectation mismatches, dissatisfaction with company policies and quest for a better job content.
Ashish Sonal, country manager, Hill & Associates said, "Attrition not only pushes up costs incurred on the training of employees but also affects productivity along with the ideal level of 'knowledge maturity' of the organisation and the employees. The sector needs to employ a higher degree of due diligence at the hiring stage."
2. What can be the possible strategies to combat attrition?
Experts believe that organisational culture has a great impact on who stays and who goes. And the culture of an organisation is determined by the quality of the relationship between bosses and their subordinates. According to a popular saying—employees never leave the company, they leave their bosses. An inefficient boss creates poor work culture, which is one of the frequent reasons for quitting.
Employers often fail to understand the importance of providing opportunities for development of their employees or their career growth. A conducive working atmosphere, good culture, training and career growth with adequate salary, a work environment with an open, vibrant and dynamic culture where there is a lot of space for communication are some provisions that control attrition.
An organisation is viewed as a place where employees meet their aspirations of growth and development, values of trust, teamwork and transparency. If a company respects them and their skills, realise their potential and provide them with a healthy environment to learn and grow with flexible compensation, employees take that as a strong reason to stay on.
Recognising the contribution of outstanding achievers also inspires others to try hard and put in their best. A good organisational behaviour also focuses on areas like training, career development and believe in equipping workforce better on the professional front.
Experts say that good organisational behaviour is instrumental in extending the tenure of employees in the organisation as it increases their self-esteem, confidence, morale and motivation. A substantial growth of employee's self-esteem is as important as the concept of learning in the industry.
The demand of experienced and good employees is actually outstripping the supply. In such a situation, higher salary structures pose a major challenge in controlling attrition levels in the industry. Moreover, the salary growth plan is not well defined as well. All this encourages poaching by companies offering higher salaries. Though the salary is decided keeping in line with the market trends, the qualification, experience and the attitude of the individual matters. Salary or even increments are dependent very much on what kind of value adding the person is or will do in the organization, though internal imbalances should be avoided.
Salary, recognition of work is a healthy retention strategy. If the organisation values its employees, recognises and appreciates their skills and work, it pays. It is important to keep an eye on the fast track people who are intelligent and excellent performers. Performance is a primary requirement; therefore, excellent performers should be valued. They should be identified, nurtured and provided growth opportunity.
3. Any long term solution to increase stability of employee in the organization?
A thorough analysis of a candidate's background or behaviour pattern, adaptability or liking would help the organisation with good resource pool and less attrition rates. Hiring stayers rather than stars is yet another strategy. According to experts, some of the most talented people often have the tendency to move on. The reason being their eagerness to climb by shifting from one company to another. Frequent job hoppers are not the ultimate gainers. They gain or earn only in terms of money but those who opt to work in one organisation for long are able to learn and gain experience which pays in the long term.
An efficient HR focuses on creating a good work culture and work out different strategies in line with organisational philosophy. According to experts, HR managers must use the combination of growth, learning opportunity and pay attention to employees' personal needs and participation. The needs of the employees should be regularly gauged through open communication, polls and feedback mechanisms to maintain consistency in performance and high motivation levels.
From India, Bangalore
4These are discussions Sr. HR guys engage in on a partcular forum. I am sending you the relevant cut outs. Read them all as these are from experience sharing and have a lot of results from practice.
regards
Santosh
1. What do you identify as major reasons for attrition?
Global outsourcing and the astounding amount of foreign direct investment pouring into China, Russia, and India have created tremendous opportunities and competition for talented IT professionals in those countries. The downside of this increased competition is a rising rate of attrition, particularly in India. The main reason for employees leaving is voluntary departure, no career progression, unsuitable for position and lack of skills. It is not night shifts, monotony of work and quest for salary jumps, which are leading to an exodus of employees; instead, it is the lack of growth avenue that is driving more people out of organisations.
Attrition also happens when people hate their working conditions, do not like their team-mates or perhaps do not like what they are doing. There are also cases when people leave their job for family reasons or when they wish to migrate.
The reasons are too varied to be clubbed together, but the bottom line remains the same—it is all about money! And the result—heavy attrition.
According to a Hill & Associates study on the challenges of retention in the Indian outsourcing sector, more than 50 per cent of the 1,000 respondents attributed their exits to lack of growth avenues, expectation mismatches, dissatisfaction with company policies and quest for a better job content.
Ashish Sonal, country manager, Hill & Associates said, "Attrition not only pushes up costs incurred on the training of employees but also affects productivity along with the ideal level of 'knowledge maturity' of the organisation and the employees. The sector needs to employ a higher degree of due diligence at the hiring stage."
2. What can be the possible strategies to combat attrition?
Experts believe that organisational culture has a great impact on who stays and who goes. And the culture of an organisation is determined by the quality of the relationship between bosses and their subordinates. According to a popular saying—employees never leave the company, they leave their bosses. An inefficient boss creates poor work culture, which is one of the frequent reasons for quitting.
Employers often fail to understand the importance of providing opportunities for development of their employees or their career growth. A conducive working atmosphere, good culture, training and career growth with adequate salary, a work environment with an open, vibrant and dynamic culture where there is a lot of space for communication are some provisions that control attrition.
An organisation is viewed as a place where employees meet their aspirations of growth and development, values of trust, teamwork and transparency. If a company respects them and their skills, realise their potential and provide them with a healthy environment to learn and grow with flexible compensation, employees take that as a strong reason to stay on.
Recognising the contribution of outstanding achievers also inspires others to try hard and put in their best. A good organisational behaviour also focuses on areas like training, career development and believe in equipping workforce better on the professional front.
Experts say that good organisational behaviour is instrumental in extending the tenure of employees in the organisation as it increases their self-esteem, confidence, morale and motivation. A substantial growth of employee's self-esteem is as important as the concept of learning in the industry.
The demand of experienced and good employees is actually outstripping the supply. In such a situation, higher salary structures pose a major challenge in controlling attrition levels in the industry. Moreover, the salary growth plan is not well defined as well. All this encourages poaching by companies offering higher salaries. Though the salary is decided keeping in line with the market trends, the qualification, experience and the attitude of the individual matters. Salary or even increments are dependent very much on what kind of value adding the person is or will do in the organization, though internal imbalances should be avoided.
Salary, recognition of work is a healthy retention strategy. If the organisation values its employees, recognises and appreciates their skills and work, it pays. It is important to keep an eye on the fast track people who are intelligent and excellent performers. Performance is a primary requirement; therefore, excellent performers should be valued. They should be identified, nurtured and provided growth opportunity.
3. Any long term solution to increase stability of employee in the organization?
A thorough analysis of a candidate's background or behaviour pattern, adaptability or liking would help the organisation with good resource pool and less attrition rates. Hiring stayers rather than stars is yet another strategy. According to experts, some of the most talented people often have the tendency to move on. The reason being their eagerness to climb by shifting from one company to another. Frequent job hoppers are not the ultimate gainers. They gain or earn only in terms of money but those who opt to work in one organisation for long are able to learn and gain experience which pays in the long term.
An efficient HR focuses on creating a good work culture and work out different strategies in line with organisational philosophy. According to experts, HR managers must use the combination of growth, learning opportunity and pay attention to employees' personal needs and participation. The needs of the employees should be regularly gauged through open communication, polls and feedback mechanisms to maintain consistency in performance and high motivation levels.
From India, Bangalore
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