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Attrition & retention

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Transcript of "Attrition & retention"

  1. 1. ATTRITION:ATTRITION: A GLOBALA GLOBAL CHALLENGECHALLENGE KRUPALI SHAHKRUPALI SHAH
  2. 2. ATTRITIONATTRITION OUR ASSEST WALK OUT OF THE DOOROUR ASSEST WALK OUT OF THE DOOR EACH EVENING.WE HAVE TO MAKEEACH EVENING.WE HAVE TO MAKE SURE THAT THEY COME BACK THESURE THAT THEY COME BACK THE NEXT MORNINGNEXT MORNING -- NARAYAN ANARAYAN A MURTHYMURTHY CHIEF MENTOR OFCHIEF MENTOR OF
  3. 3. Attrition ??Attrition ?? ""A reduction in the number ofA reduction in the number of employees throughemployees through retirement, resignation orretirement, resignation or death"death"
  4. 4.  Monetary factors  Lack of good working condition-  No Flexible work schedules. Reasons why an employee leaves anReasons why an employee leaves an organizationorganization
  5. 5. Lack of respect-  Very Few Supportive colleagues: Organization is more concern toward business Increase in favoritisms Cont…Cont…
  6. 6. Cont… Employee needs pride in where they work & what they do Lack of appreciation Lack of challenges in job The job or workplace was not as expected
  7. 7. The Mismatch Between Job and Person Too Little Coaching and Feedback Lack of support Cont..Cont..
  8. 8. Stress From Overwork and Work-Life Imbalance  Loss of Trust and Confidence in Senior Leaders Less frequency in giving rewards. Cont…Cont…
  9. 9. EFFECT ON ORGANIZATIONEFFECT ON ORGANIZATION IF ITS EMPLOYEE LEAVEIF ITS EMPLOYEE LEAVE  Loss of productivityLoss of productivity  Replacing qualified employeesReplacing qualified employees  Poor retention creates a “revolving door”Poor retention creates a “revolving door” culture within the organization loweringculture within the organization lowering morale and confidence.morale and confidence.  Cost of overtime or temporary helpCost of overtime or temporary help  Recruiting costsRecruiting costs  Interviewing costsInterviewing costs  Time spent in orientationTime spent in orientation
  10. 10. RETENTIONRETENTION
  11. 11. What is Employee Retention?What is Employee Retention?  Employee retention is a process in whichEmployee retention is a process in which the employees are encouraged to remainthe employees are encouraged to remain with the organization for the maximumwith the organization for the maximum period of time or until the completion ofperiod of time or until the completion of the project. Employee retention isthe project. Employee retention is beneficial for the organization as well asbeneficial for the organization as well as the employeethe employee..
  12. 12. Importance of Employee retention.Importance of Employee retention.  The cost of turnoverThe cost of turnover  Loss of company KnowledgeLoss of company Knowledge  Interruption of customer ServiceInterruption of customer Service  Turnover leads to more turnoverTurnover leads to more turnover  Goodwill of the companyGoodwill of the company  Regaining efficiencyRegaining efficiency
  13. 13. Key Areas in Employee RetentionKey Areas in Employee Retention Compensation Environment Growth Relationship Support
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