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Hi Shweta,
Whatevery u think or people think, but I feel , its against Human morality, we are into 21st century now,but we Indian mentality is still traditional, Infact we must thnk ourself,who we are, why we take people for granted? What will u feel,if that activity was done with you?
I am sorry to say this but the truth is we are not granted for anyone else.we must understand human values, keep them happy providing them good salary,perk etc. so they must be happy wrking with the organisation.
Regards
Dilip

Bangalore

In my opinion its not a healthy practice. And this will have negative impacts on Company. Healthy retention strategy would focus on the career growoth of the candidage both from individual's and organisational perspective. Good remmuneration, opportunity for growth, healthy work environment, personal fulfillment are some of the areas you could work on to build up a good retention strategy.
Regards,
Shijit.

Hi Swetha,
I do agree with this HR fraternity. This is a very bad practise that your management is adopting. Rather you can think of a few alternative retention strategies like recognisition, rewards, transparent work culture etc.
I am associated with Suguna Group which is India's largest producer of poultry broiler ( 4'th in the world) with a current turnover of 2000 Crores and has PAN India presence. We have a unique selection process in place. By adopting such a process, we have absorbed that the shortlisted aspirants themselves join our organisation rather than we following up with them. It all depends on how the Recruiter sells the position and the organisation to prospective employees.
Your comments on this will be highly appreciated.
Best Regards,
K. Bhupesh

Hi,

the employees can even give a stop memo for the cheques that is given to you which you will not come to know until you present it.

Start education assistance program for the employees which will lock them for two years if its PG program/3yrs if its degrees.

Instead of taking cheque pls introduce a scheme where he/she will paid a joining bonus of X amount. first installment will be paid on a completion of the first year. And the rest can be given in another 3 installments which will serve your two year lock in period (the amount can be your recruitments and training cost +the time the person takes to adapt to the environments & to perform on the job (number of days to adapt * per day salary= cost to the company) take 60 % of the cost as your bonus

Regards
Tony

Dear Mr. Bhupesh,

Thank you for your valuable advice …
HR Strategies like Recognisition, Rewards and a transparent work culture already exist
It is not my existing staff members who are complaining …

The area of concern is new recruits …

I totally agree with you that it is the recruiters job to sell the company well to the candidate…but such rigid clauses play a negative role..

Going further could you please enlighten us with the selection process your company follows…..

As far as following up with candidates about their joining ….I think that branded companies don’t really have to invest too much time and energy as the brand name is enough to work, secondly if the position has been closed by any of the consultants then the consultant is the push factor as his commercials are dependent on the candidates joining…

Special mention about Mr. Tony, I am impressed what you have suggested could be checked once. I would definitely work out the cost and discuss with my Management.

Could someone throw some light on Ex-Gratia..

Hello Shweta

>I work for a company which has engineering work as one of the verticals.
Recruitment is difficult as we are very specific when it comes down to few thing.<

But are they the right things?

>I wanted to know what all are the possible retention policies for such kind of crowd.<

The most effective retention program begins before the job offer is made and it takes an hour of the applicant's time.

>One of the retention strategies which we have are taking a cheque from them
on joining of first three months salary and returning it to them on one year completion.<

Oh my, that sends a terrible message to serious applicants. Whenever I read of such a practice I know that the hiring managers don't know how to determine which qualified to be hired job applicants will become long-term successful employees so they try to shift some of the financial burden onto the new hires.

>Management is now deciding to change the clause and extending it to two years.<

I guess your managers are determined to make hiring good employees even harder.

>I need to know from seniors would that work out in retaining
people or would that tighten up the recruitment further.<

It will ensure that the people you hire will need the job more than those that who refuse to agree to such a business practice.

Why would a successful employee elsewhere agree to such a condition?

If managers are serious about increasing retention and new hire productivity, they should start hiring for talent.

Dear Shweta,
I have been going through this thread, but I personally feel that you need something more sustainable and easier to convince your top brass who are looking at slip-shot methods for retention. Creating retention strategies is a holistic task and not comprised of sporadic attempts here and there. I would also suggest you to visit my blog: People Matter to Me to see the latest on retention.
Yours is not the only organisation, plagued with this problem, but I think there are organised methods of addressing them rather than resorting to antics where the buy-in is only a bad 'employment brand':idea:
Regards
Dhruva

All of us in the HR fraternity have been constantly busy with the two "A"s- Attraction and Attrition. Of which the Attrition issue seems to have been handled effectively by Infosys. As reported in the national newspapers on Friday, September 12, 2008, Infosys has made history by taking Single Largest Group Life Insurance Policy of Rs. 24000 Crores from Life Insurance Corporation of India (LIC). Others like Wipro, Hindustan Auronautics (HAL) and Singaneri Colleries have been using this as a effective tool for talent retention.

The news items about the largest Group Life Insurance Policy as appearing in Times of India and Economic Times are attached for your ready reference.


I am pleased to inform you that recently have joined LIC as an Agent at Mumbai.

It would be our great pleasure to initiate this process at your organisation if you consider to implement Group Life Insurance as an anti-attrition cum talent retention tool.




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