Attrition Rates IT Sector India
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Over 40% of India's workforce is projected to quit their current jobs within the next six months, according to a survey. High attrition rates pose a major threat to corporate security in India due to competing job opportunities. It costs companies approximately 7 times more to hire a new employee than it does to retain an existing one. When managers or professionals leave an organization, it can cost the company around 18 months of their salary to replace them. For example, when Infosys saw attrition of around 7,833 employees in the first quarter of 2010, with an average salary of 5.7 lakh per year, it lost 446 crore (approximately $62 million USD) over those three months.
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Attrition 144
- Attrition in the IT sector is higher due to the dynamic nature of salaries and high demand for professionals. There is more movement between companies by employees seeking better opportunities.
- Common reasons for attrition include salary hikes, promotions, lack of onsite opportunities, brand reputation, job satisfaction, facilities, work environment, pressure and work culture. High attrition costs companies time and resources to replace employees.
- Steps to reduce attrition include conducting exit interviews, recognizing employee contributions, providing feedback, opportunities for learning, addressing personal needs, open communication, ensuring job security, clarifying roles and maintaining group cohesiveness. Focusing on employee satisfaction and retention can help lower attrition rates.
attritition rate
- Attrition refers to a reduction in employees when people leave an organization and are not replaced. Common reasons for attrition include better pay or career opportunities elsewhere, lack of growth opportunities, poor management, and compensation issues.
- Across industries, the average attrition rate is 14%. The IT, ITES, media, and pharmaceutical sectors typically see higher attrition rates of 15-17%. Factors like salary, work environment, future prospects, and manager relationships impact an employee's decision to stay or leave an organization.
- Many industries in India are expected to experience continued growth in the coming years, including retail, manufacturing, real estate, technology, logistics and media. This growth may help address issues
Ergonomic and occupational therapy solutions to address issues (1)
Ergonomic and occupational therapy solutions to address issues (1)Centre for Social Initiative and Management
Background: Business Process Outsourcing Sector (BPO) sector is one of the fastest growing industrial segments in India. However, the industry is plagued by high attrition rates. Different surveys do indicate musculoskeletal disorders (MSD) and stress related problems by prolonged night shifts and stressful working conditions. To address these issues, there is paucity of information regarding ergonomic design of work place, working conditions, stress and MSD for Indian night shift employees of BPO sector. Secondary data relating the psycho physiological aspects relating to the work is examined to build context for the present study. Research address the issues of impact of violation of circadian rhythm, stressful and anxious work environment, availability of ergonomic work environment design and low job satisfaction of night shift BPO employees.
Methods: Survey data collected in 2011 among the workforce of ten organizations in Chennai is used for this study. The sample study covered 106 employees.
Results:
The output of research emphasis need for multi disciplinary approach consisting of ergonomics, occupational therapy and psychology to improve physical and psychological well being of employees to address issues of attrition in BPO industry.
Challenges for hr managers in indian bpo industry with respect to attrition
This document summarizes a research study on the challenges faced by HR managers in the Indian BPO industry, specifically regarding high attrition rates. The study identifies 10 key challenges through factor analysis: 1) attrition, 2) interpersonal relations, 3) talent management, 4) leadership, 5) performance management, 6) work-life balance, 7) changing employee expectations, 8) new industrial approaches, 9) compensation, and 10) succession planning. Attrition was found to have the highest eigenvalue and is considered the most important challenge. The study aims to understand the relationship between these HR challenges and attrition. A survey was conducted of 120 HR professionals in BPO organizations in India to gather data.
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The document discusses attrition rates at HCL Technologies. It provides background on HCL, outlines some key causes of attrition like lack of career growth opportunities and ineffective leadership. Some key findings from an employee satisfaction survey at HCL are presented, showing that 27% of employees expressed dissatisfaction, which could lead to increased attrition rates. The top two contributors to dissatisfaction were issues with career development and lack of proper recognition and rewards.
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The document provides an overview of business process outsourcing (BPO) and call centers in India. It defines BPO as business processes performed outside of where the business is established. Call centers handle high volumes of calls and emails, and initially performed lower-level work but now also perform some high-level jobs like software testing. The document lists the top BPO companies in India and some benefits and challenges of the industry in India.
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The document provides an overview of a study on employee attrition. It discusses how attrition affects businesses and the objectives of studying attrition factors. A survey was conducted to determine key job factors that influence attrition, including job content, responsibilities, career growth and job context such as work environment and compensation. The study aims to identify whether job content or context has a greater impact on attrition and help predict future attrition rates. It also provides background on attrition in the business process outsourcing industry and common reasons why employees leave their jobs.
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Challenges for hr managers in indian bpo industry with respect to attrition
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This document discusses employee attrition in the education industry. It defines attrition and attrition rate, and discusses reasons for attrition such as organizational factors, working environment, and opportunities elsewhere. It also discusses the costs of attrition for companies, including recruitment costs and training costs to replace employees who leave. The document then provides a formula to calculate attrition rate in an organization.
Synopsis of abhishek
This document discusses employee attrition in the education industry. It begins with definitions of attrition and attrition rate. It then discusses the costs of attrition for companies, including recruitment costs and training costs to replace employees that leave. The document outlines a methodology for calculating attrition rate for an organization. It analyzes trends in attrition rates for an unnamed company over multiple years. Finally, it lists references used in the document, including academic books, articles, company publications, and websites.
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This document discusses employee attrition in the education industry. It defines attrition and attrition rate, and discusses reasons for attrition such as organizational factors, working environment, and opportunities elsewhere. It then outlines the methodology used for the research study and analyzes attrition trends. The costs of attrition for organizations are recruitment costs, training costs, and costs associated with replacing employees. The attrition rate can be calculated by taking the number of employees who left in a year divided by the average number of employees that year and multiplying by 100.
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Attrition Rates IT Sector India
- 2. Attrition Rate (%) = (E / T) * 100 E = No. Of employees left in a month T = Total number of employees in a month