Attrition 144

Download Attrition 144

Post on 12-Aug-2015

15 views

Category:

Business

0 download

Embed Size (px)

TRANSCRIPT

<ol><li> 1. AA Presentation on Why Attrition Rate isPresentation on Why Attrition Rate is more in IT-Sector &amp; what are the stepmore in IT-Sector &amp; what are the step taken to reduce it?taken to reduce it? ByBy Supriya RodeSupriya Rode </li><li> 2. BB Defining attrition:Defining attrition: A reduction in the number ofA reduction in the number of employees through retirement, resignation or death.employees through retirement, resignation or death. Defining Attrition rate:Defining Attrition rate: The rate of shrinkage in size orThe rate of shrinkage in size or number.number. Introduction:Introduction: In the best of worlds, employees wouldIn the best of worlds, employees would love their jobs, like their coworkers, work hard for theirlove their jobs, like their coworkers, work hard for their employers, get paid well for their work, have ampleemployers, get paid well for their work, have ample chances for the advancement, and the flexible scheduleschances for the advancement, and the flexible schedules so they could attend to personal or family needs as andso they could attend to personal or family needs as and when necessary.when necessary. </li><li> 3. CC But then theres the real world. And in the realBut then theres the real world. And in the real world,employeesa ,do leave, either because they wantworld,employeesa ,do leave, either because they want more money, hate their co workers, want a change ormore money, hate their co workers, want a change or because their spouse gets a dream job in anotherbecause their spouse gets a dream job in another state.So,what does all the turnover cost? And whatstate.So,what does all the turnover cost? And what employees are likely o have the highest turnover? Whoemployees are likely o have the highest turnover? Who is likely to stay the longest?is likely to stay the longest? Information Technology as an industry is very dynamic,Information Technology as an industry is very dynamic, lots of staunch competitors in the same field. IT as anlots of staunch competitors in the same field. IT as an industry is segmented into Global Consulting or Productindustry is segmented into Global Consulting or Product Development companies. With the increased offshoreDevelopment companies. With the increased offshore projects hitting, a lot of technological companies reprojects hitting, a lot of technological companies re trying to acquire as many projects as possible. Lots oftrying to acquire as many projects as possible. Lots of Projects coming to INDIA, due to cheap labour andProjects coming to INDIA, due to cheap labour and professional excellence proved.professional excellence proved. </li><li> 4. DD If you compare the increasing demand for the ITIf you compare the increasing demand for the IT professionals and the jobs that need to beprofessionals and the jobs that need to be offshore in India, there is a huge dissonance inoffshore in India, there is a huge dissonance in the demand and the supply.Naturally,acquirrngthe demand and the supply.Naturally,acquirrng talents become difficult in such a situation.talents become difficult in such a situation. Since the inflow of fresh talent is relativelySince the inflow of fresh talent is relatively less, the same professionals in the market keepless, the same professionals in the market keep moving from one companies to another.moving from one companies to another. </li><li> 5. EE Lot of things attract such individuals as well as there areLot of things attract such individuals as well as there are reason for attrition as follows:reason for attrition as follows: Salary hikeSalary hike PromotionPromotion Less onsite opportunities or may be onsiteLess onsite opportunities or may be onsite opportunitiesopportunities BrandBrand Job satisfactionJob satisfaction FacilitiesFacilities Working EnvironmentWorking Environment Work Pressure.Work Pressure. </li><li> 6. FF Work culture and management-IT industry is knownWork culture and management-IT industry is known for its high pressure work atmosphere and longfor its high pressure work atmosphere and long working hrs, which create high levels ofworking hrs, which create high levels of stresss,employee and high attritions rates.stresss,employee and high attritions rates. Transformation in lifestyles, identity and familyTransformation in lifestyles, identity and family Lack of good leaders who can motivate and guideLack of good leaders who can motivate and guide their team well-IT managers lack both the time andtheir team well-IT managers lack both the time and tools needed for assessing their team members andtools needed for assessing their team members and taking corrective action to improve their performancetaking corrective action to improve their performance which is directly related to job satisfaction.which is directly related to job satisfaction. Increasing percentage of women employees-MostIncreasing percentage of women employees-Most women leave their job either after marriage orwomen leave their job either after marriage or because of long working hours, work stress and otherbecause of long working hours, work stress and other social pressures.social pressures. </li><li> 7. GG Attrition is higher coz salary is dynamicAttrition is higher coz salary is dynamic There is more demand and less supply so people areThere is more demand and less supply so people are getting what they want. One sure way to prevent this isgetting what they want. One sure way to prevent this is to provide excellent working condition and make theto provide excellent working condition and make the organization a people centric place.organization a people centric place. PDC-Product Development Companies(Most of the ITPDC-Product Development Companies(Most of the IT people in IT services would like to move PDC as thepeople in IT services would like to move PDC as the kind of work would be challenging &amp; exciting)kind of work would be challenging &amp; exciting) Some companies &amp; their domain are exciting.Some companies &amp; their domain are exciting. Quality of the work Some companies are offering itsQuality of the work Some companies are offering its employees the high end quality work.employees the high end quality work. Most employees dont leave but quit because they didMost employees dont leave but quit because they did not like their job, they quit because they did not likenot like their job, they quit because they did not like their boss.their boss. </li><li> 8. HH Step to Reduce Attrition:Step to Reduce Attrition: 1) Focus on Exit-interviews1) Focus on Exit-interviews Employers should not askEmployers should not ask why are you leaving?why are you leaving? rather they should askrather they should ask when you start searching for a job?when you start searching for a job? Getting an insight and inside scoop can really help. It givesGetting an insight and inside scoop can really help. It gives information about internal problems,employee;s perceptions of theinformation about internal problems,employee;s perceptions of the organization, underlying workplace issues and colleagues.organization, underlying workplace issues and colleagues. 2) Let employees know that their opinions are valuable. Ask them to2) Let employees know that their opinions are valuable. Ask them to open up. Listen to employees ideas; never ridicule them.open up. Listen to employees ideas; never ridicule them. 3) Compliment and Thank you employees for their valuable3) Compliment and Thank you employees for their valuable contribution. Recognize and celebrate their success.contribution. Recognize and celebrate their success. </li><li> 9. II 4)Setting up a feedback mechanisms to maintain4)Setting up a feedback mechanisms to maintain consistency in performance and high motivationconsistency in performance and high motivation levels. Offer performance feedback and praise goodlevels. Offer performance feedback and praise good efforts and results.Criticise but Praise publicly.efforts and results.Criticise but Praise publicly. 5) Give them job security5) Give them job security 6) Providing opportunities of learning by constantly6) Providing opportunities of learning by constantly upgrading the skills of employeesupgrading the skills of employees 7) Paying attention to employees personal needs and7) Paying attention to employees personal needs and participationparticipation 8) Gauging the needs of the employees through open8) Gauging the needs of the employees through open communication and polls.communication and polls. </li><li> 10. JJ 9) Communicate goals, roles and responsibilities so that9) Communicate goals, roles and responsibilities so that people know what is expected from them and feel apeople know what is expected from them and feel a part of crowd.part of crowd. 10)Keep employees inform about the happening in the10)Keep employees inform about the happening in the company so that they will be confident about thecompany so that they will be confident about the future or not to look for better opinion.future or not to look for better opinion. 11) Encourage humor &amp; laughter in workplace to deal11) Encourage humor &amp; laughter in workplace to deal with stress which will ensure that the employees arewith stress which will ensure that the employees are happy which gets reflected in their services especiallyhappy which gets reflected in their services especially critical in voice based transaction.critical in voice based transaction. </li><li> 11. KK 12)Feeling valued by their managers or superior in the12)Feeling valued by their managers or superior in the workplace is a key to high employee motivation andworkplace is a key to high employee motivation and morale.morale. 13)Not hiring employees who have a history of jumping13)Not hiring employees who have a history of jumping from one job to other. Recognizing the contributionsfrom one job to other. Recognizing the contributions of achievers would also inspire others to try hard andof achievers would also inspire others to try hard and put in their best.put in their best. 14)Group cohesiveness also helps in copping with the14)Group cohesiveness also helps in copping with the attrition. Built teams and generate competitionattrition. Built teams and generate competition between them.between them. </li><li> 12. LL 15)The attrition battle could be won by focusing on15)The attrition battle could be won by focusing on retention, making work a fun place, ongoing learningretention, making work a fun place, ongoing learning and treating applicants and employees in the sameand treating applicants and employees in the same way as subordinate.way as subordinate. 16)Infusing creativity in the routine job and16)Infusing creativity in the routine job and communicate the firms larger objectives and goals tocommunicate the firms larger objectives and goals to each employee to achieve that objective.each employee to achieve that objective. 17)It has been observed that attrition rate was lower17)It has been observed that attrition rate was lower when employees perceived their workplace as a funwhen employees perceived their workplace as a fun environment and viewed their jobs as enjoyable.environment and viewed their jobs as enjoyable. </li><li> 13. MM 18) Monotony and stress have contributed to increased18) Monotony and stress have contributed to increased attrition rate. So keep changing the duties or positionattrition rate. So keep changing the duties or position of employees after fixes period.of employees after fixes period. 19) Induction program and Exit interview are very19) Induction program and Exit interview are very important.important. 20) Identify the key employees of the firm or categorize20) Identify the key employees of the firm or categorize the employee according to need of the firm. It willthe employee according to need of the firm. It will help you to customize your retention program.help you to customize your retention program. </li><li> 14. NN 21)Your staff members must feel rewarded, recognizes21)Your staff members must feel rewarded, recognizes and appreciated. Monetary rewards, bonuses and giftsand appreciated. Monetary rewards, bonuses and gifts make the thank you even moremake the thank you even more appreciated.Undersstanble raises tied toappreciated.Undersstanble raises tied to accomplishments and achievements help to retainaccomplishments and achievements help to retain staff. Offer an attractive, competitive, benefitsstaff. Offer an attractive, competitive, benefits package.package. 22)Select the right people in the first place through22)Select the right people in the first place through behaviour-based testing and competency screening.behaviour-based testing and competency screening. </li><li> 15. OO 23) Demonstrate respect for employees at all times.23) Demonstrate respect for employees at all times. Treat the employees well &amp; provide a dignity of job.Treat the employees well &amp; provide a dignity of job. 24)If a key employee resigns, it should be taken up on a24)If a key employee resigns, it should be taken up on a priority basis and kept confidential as far as possiblepriority basis and kept confidential as far as possible and the senior management should meet the employeeand the senior management should meet the employee to discuss his reason for leaving and evaluate if histo discuss his reason for leaving and evaluate if his issues bear merit and whether they can be resolved.issues bear merit and whether they can be resolved. 25)People want to enjoy their work. Make work25)People want to enjoy their work. Make work fun.Engage,employ the specials talents of eachfun.Engage,employ the specials talents of each individual.individual. </li><li> 16. PP So if we want to try to reduce attrition we canSo if we want to try to reduce attrition we can take the points mention above for the same andtake the points mention above for the same and can do best from our end to reduce attritioncan do best from our end to reduce attrition rate in IT-Sector.rate in IT-Sector. </li><li> 17. QQ The EndThe End </li></ol>