attrition,attrition,attrition new
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RESOURCEMANAGEMENT
TOPIC: ATTRITIONMANAGEMENT IN
TODAYS SCENARIO
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Ni t is h Kir t i 4 72
R ac hn a L ac h ke 53 0
Dee pi k a Mi t t al 536
A amis h a N ai k 538
C hinm a y a Ner k ar
53 9
J uzer P a t h an w al a 5 4 0
Pooj a R au t 5 48
A t ul W ag hm are 562
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ATTRITION,ATTRITION,ATTRITION
EVERYWHERE ATTRITION..!!!
Why..???
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Erasing Weathering
Dental Attrition
Housemaid
Language Attrition
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Take away my factories, but leave my people, and soonwe will have a new and better factory ."
-AndrewCarnegie
(The AmericanSteel Billionaire)
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f employees are o be
,roducts heir shelf l ives
are ett ing shorter
A ttritio nttritio n
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ATTRITION
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Mr. HappyJob satisfactionWork ex: 5
years
Mr. UnhappyHates his jobDesperate for
change
THEPLOT
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Its a Monday.again..!!The same office, the same
people and the same workIve an entire week to pass byand Im exhausted on the veryfirst day of the weekcallsfor a
cup of coffee..
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Ma y b e H a p p y c o u l d h e l p m e o n m y j o b f r o n t I s h o u l d t r y a n d t r a c e h i m
G O O D M
O R N I
N G
M R H A
P P Y
H E R E
. .
TALK,TALK,TALK..!!!
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BACK TO CLASSREASONS FOR ATTRITION:
In Equity In CompensationLimited Career OpportunitiesRole StagnationMismatch Of Job ProfileJob Stress And Work Life ImbalancesOdd Working HoursLack Of Responsibilities
MonotonyWomen EmployeesEducationLack Of CommunicationDiscriminationLack of Relationship with their boss
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..LASHBACK
M y B ad O ld D a y
s
No C a ree r P ros pec t s S t ress
G r a ve y a rd S h i f t
He a l t h P ro b le ms
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I F e e l S o G o o d H a p p y W i l l S u r e l y H e l p Me O u t I n T hi s ..H e I s T he B e s t
P e r s o n At T he Mo me n t T o H e l p Me ( s mi l e s )
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The only means by which Ill beagain happy is by leaving my
job..leaving this companyIvealready started finding new jobs
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W a i t , w a i t ! ! ! ..Y ou c a n t l ea v e y ou r c ompa ny N ow , c a l m d o
w n y ou r s el f a nd j u s t mu l l ov er t hi s H a v e y ou ev er t hou g ht how mu c h w i l l be y ou r or g a ni z a t i on s l os s w hen a s u s t a i ned empl oy ee l i k e y ou w i l l a ba nd on i t ?
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Companys loss???
Hmmmmlet me think, letme think, let me thinkkk
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Well, let me enlighten youon thisThe company willhave to bear the cost oftalent loss, recruitmentcost, training cost, lost
productivity cost
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Back to class
Company's loss due to attrition:
Loss of talentRecruitment costTraining cost
Motivational costLost productivity cost
Replace cost > Retain cost
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In order to retain employeescompanies like mine try and workon the softer elementslikeappreciation, opinions, informalgatherings,to name a few
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Back to classSMALL DEEDS??...THEY MAKE A DIFFERENCE
Appreciation
Opinions valuable Employees informedUpdate employees with technical information Address staff by their first names Publicly praise accomplishmentsCriticize privatelyInformal activitiesInvolve employees in organizational planningRemind employees that they are valuable
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That sounds nice!!!!!You feel so home in such an organization
But..pay, bonuses, job enrichment, etc.also matters.A blend of all these is
just what I need!!!!!!
A company likeGOOGLE seemsperfect to me!!
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Hmmm..agreed..but its not onlyGOOGLE who does that.a companylike mine also does loves itemployeesmy company has adopted20 best retention practices .itsevery employees desire to be a partof such organizations who follow
similar practices.Want me toelaborate..hold on..!
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The 20 best Retention tools for curbing Attrition
LOVE EM or LOSE EMLOVE EM or LOSE EM
Attractive and Competitive compensationIdeal examples:
PAY EXEPTION @
Individual/Group recognition @
Clearly communicating what is expectedIdeal example:
Structured Training program @ELI LILLY & CO.(India) Pvt. Ltd.
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People stay or leave becauseof their bosses
and not the companies
Training the front-line , managers andAdministrators.
Ideal example:
Selective Leadership development mentor programs @
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Quantified and Qualitative BenefitsIdeal example:
Social Security Systems in
Enhancement, Advancement andProgression opportunities.(Eg.): Job RotationsIdeal example:
Treatment towards higher qualification@ Computer Sciences Corporation (India)pvt. Ltd.
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Retention Bonus (vaccations , paid club memberships, etc.)Ideal example:
Cash Bonus Plans and Performance based bonuses @
Process Ownerof Retention
StrategiesImplementation
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Employees Engagement Practices(Stay Interviews, ASKPT
Employee Satisfaction Surveys, etc.)Ideal example:
Engagement of employeestowards Social
Responsibility followed by
Teamwork and Cross-Functional Team
Ideal example:
Sapient Corporations
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Fun @ work(Talent Competitions, Sport activities, Picnics, Etc)
Ideal example:
Parties , picnics @
Demotivation to work on holidays @
Clear Department-wise Mission Statement
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Job Enrichment
Ideal example: Strategic Roadmap Meeting by
Transparency in Communication
Ideal example:
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Encouragement of Higher Learning
Ideal example: Personality Development Systems, $3000 every year toward educational reimbursements, Online library by
Flexibilty (Flexible work hours,)
Ideal example:
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Pragmatism
(On-site child care centres, dry cleaning,Involving spouses in CSR activities etc.)
Effective Induction Programme
Ideal example:
23 day Induction programme @
1 month day induction programme @
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Never ever threaten an employees job orIncome
Ideal example:
Workplace Ambience
Value your Employees
These are the people who make youlook goodIdeal example:
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The y deal t wi t h recession in a
splendid wa y!!!
The y nei t her f ired an y of
t he
emplo yees.nor did t he y cu t on
t raining.. The y belie ve, Bes t t alen t
leads t o t he sur vi val of business.
The y concen t ra t ed on emplo yee
de velopmen t which will help t hem t o
sur vi ve in t he long run
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EasiestEasiestways toways tocut costscut costsduringduringRecessionRecession Redundanciesedundancies
urbing onurbing on
There is a negative impact of both when the economic growthreturns.
Business who opt for redundancies are left without skllied andmotivated talent.
Businesses that dont invest in talent are 2 and a half times
more likely to fail, while those that carry on training willrecover more uickl .
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Setting an Example :
During the down turn, HONDA had 2 options:
Option 1:
Making 1300 people redundant
Option 2:
Closing down for 2 months retaining all the 4800 employees on basic
Why???It used this downturn as an opportunityto train its employees in businessdevelo ment techni ues and other skills.
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Amazing !!!!! No one can
ever think about leavingsuch a company!!!!!Its a dream company
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Seriously true!!!!!
My company conducts EXIT INTERVIEWS .so as to learnfrom their mistakes.And have adopted some modelsto curb attrition.Let meelaborate
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E ve r y co m p a n y s ho u
ld e m u l a te
s uc h a n o r g a n i z a t io n. i t c l
e a r l y
m a n i f e s t s t he p r ide
a n e m p lo ye r
h a s t o w a rd s h i s e m
p lo yee s
A pe r f ec t e x a m p le o f
a co m p a n y
T h a t c a n s a t i a t e m y need s !
Back to class
0-90 daysAttrition
Management Model
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. .2 more models rachna is yet to mail
E
ffectivene
ss
0 to 30 31 to 60 61 to 90
et honest jobexpectations
ast behavior redi ct s futu re
behavior
,an they learn retain& apply
information
an they manage nterpersonal
ature of job
o they have the right eam leader ?
Steps to reducing 90 daysAttr i t ion
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I s o w i s h l a nd l i ne s c o u l d ha v e b e e n
m a d e p r e p a i d e s p e c i a l l y o f f i c e .
l a nd l i ne s e m p l o y e e s t a l k a s i f i t s
.
t he i r p r o p e r t y
H o w t he y f a i l t o u nd e r s t a nd w e
t e l e p ho ne s a l s o s u f f e r f r o m S T R E S S
( :
C O U R T E S Y v a r i e d d e g r e e s o f , ,
c o nv e r s a t i o ns i nt e ns e l i g ht he a r t e d
, ,).. d r a m a r o m a nc e s o m a ny e m o t i o
ns a t
! a g o
, .!!!E u r e k a
E u r e k a P ar t i e s t o t he
c o nv e r s a t i o n hang u p o n e ac h o t he r .( ..)r e s t
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Moral of the story
If you pick the right people andgive them the opportunity to spreadtheir wingsand put compensationas a carrier behind ityou almost
don't have to manage them.
Never try to teach a pig to sing; itwastes your time and it annoys the
pig.
Appreciate your employees andthey will reciprocate in thousand
ways
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