“ A Comprehensive Study to identify the Measures to To Reduce the Higher Attrition Rate ”
JERRY. JOSE -0721
WHAT IS ATTRITION?
Defining attrition :
"A reduction in the number of employees through retirement, resignation or death“
Defining Attrition rate:
"The rate of shrinkage in size or number"
OBJECTIVES OF THE STUDY 1) To fulfill the future needs and aspirations of employees in the organization. 2) To verify the satisfaction level of employee in the organization. 3) To ensure co-ordination between the employees and the organization. 4) To protect the interest of the employees in the organization. 5) To bring out proper working between employees and organization to improve the company’s image. 6) To make employees proud of their own company. 7) To take efforts and measures to improve the situation and conditions of employment. 8) To understand the rules and policies followed by the organization.
SCOPE OF THE STUDY
Normally appointment must be made in accordance with the policy of the company.
When employing temporary as casual staff on a short term basis the principles of good practices outlined in the policy should be followed.
Financial approval for the establish must of a new past as the filling of a vacancies must be obtained before recruitment.
REVIEW OF LITERATURE
IT enabled services (BPO) industry is being looked upon as the next big employment generator .
In India, the average attrition rate in the BPO sector is approximately 30-35 percent.
The reason for the high attrition rate
Females in the workforce
Turning down challenges
Mostly fresh graduates, take it as a pass-time job
TOP FIVE I.T COMPANIES
TOP FIRING COPANIES
TOP SECURE COMPANIES
Google and Yahoo
Primary source includes
Secondary source includes
Sample Size includes
Sample size is 25
AND ANALYSIS The Maslows Theory . Esteem needs Social needs Security needs Physiological needs Self Actualisation Needs
Types of Attrition ATTRITION VOLUNTARY INVOLUNTARY
Reasons For Attrition
FINDINGS AND CONCLUSIONS
The recruitment and selection through walk in interview only.
They try all possible ways to retain their employee but if not then……
Retention polices followed provides the employee both monetary and non monetary benefits.
Various other workshops conducted which helps the employee to be motivated and keep working.
Other welfare program are also conducted for them.
The exit interviews were conducted as and when required by the company.
SUGGESTIONS AND RECOMMENDATIONS
Companies can look into various options like good rewards, bonding programme, flexible working hours and stronger career path.
Management also needs to consider other aspects like secure career, benefits, perks and communication.
Making work a fun place, having education and ongoing learning for the workforce and treating applicants and an employee in the same way as one treats customers.
Companies need to go in for a diverse workforce, which does not only mean race, gender diversity, but also include age, experience and perspectives.