HR strategies relating to compensation and benefits are not effective for retaining employees in India. The attrition rate remains high despite compensation packages. There is a large wage disparity between managers and workers in India compared to Western countries. Intense competition for talent and dissatisfaction of employees who do not see career growth or rewards for long-term service are contributing to high attrition rates, posing a challenge for businesses. Employees feel it is better to change companies to get rewards rather than staying long-term in the same company without recognition. Communication between managers and employees also needs improvement according to the document.

1. HR STRATEGIES relating to COMPENSATION & BENEFITSare not relevant in India Presented By SAKINA SIRAJ BOOTWALA (o2) Submitted To PROF. JAYARAMAN IYER

2. If compensation and benefits were enough to keep the employees happy …why is the attrition rate so high in India ??

3. THIS IS THE CHART REPRESENTATING THE ATTRITUTION RATE OF 2007 FOR BETTER UNDERSTANDING.

4. Current scenario Jobs will want to move from places with higher wages to lower wages and labor moves in the opposite direction. Unlike in the west, there is a huge wage disparity between the wages of managers and workers With intense competition for the right talent, attrition is turning out to be a "big challenge" for businesses in India resulting in massive costs. Many companies are now focusing on talent retention initiatives, including skill development programmesand long-term rewards. There is a strong bias towards people who join a company at the early stages who see career growth, good wages, and other incentives etc., leaving later joinees dissatisfied and seeking an alternative company.

5. What the employees have to say It is completely waste to stay in the same company for long time, Indian management is not ready for long term rewards Psychologically, employees like to have their deeds rewarded, and this results in increased productivity There should be right kind of communication between the managers and employees

6. Very basic principles of Human Nature BY - W. Edwards Deming People at all levels of an organization have valuable ideas. People want to feel sense of ownership and be part of the solution. You gain more by breaking down rather than building barriers. People work best and contribute more value when they have a sense of pride of workmanship.