The Impact of Economic Recovery on Talent Exodus
As the market and industry have started showing signs of recovery, with jobs opening up in almost all sectors, the old problem of talent exodus is bound to come back to haunt organizations once again. However, this time attrition may appear to be different from the last one. The reason is that both organizations and employees have observed each other's patterns of behavior during the slowdown period.
Organizations that sowed the wind with harsh measures, such as drastic pay cuts and terminations, should now be prepared to reap a whirlwind in the form of major difficulties in attracting performers and retaining the present ones. Employee turnover has started picking up in the IT/ITes sector, with others to follow. How organizations treated their employees during hard times will be a key determinant of the attrition level and the fabric of the employer-employee relationship.
Changing Dynamics of Attrition
This time, attrition will not be solely for quick growth and money. Business Manager - HR Magazine talked to many employees in different sectors on this issue, and the result of this pulse survey is quite enlightening. Most employees have indicated that they will prefer organizations with transparent HR policies and culture, a caring attitude, high tolerance levels, and good financial health, regardless of whether the compensation package is less if an opportunity arises. Certainly, big brands and MNCs will no longer be the only attraction.
With the economy rebounding, organizations that have not invested intelligently in their people and adopted knee-jerk reactions during the slowdown could face a high level of attrition now. The cover feature of BM is on this topic, with a note of caution for the HR fraternity to pull up their socks to handle the issue as it is almost on a plate.
Free trial copies before subscription are available on a first-come, first-serve basis. You may request them with a complete postal address.
Regards,
Anil Kaushik
Chief Editor, BUSINESS MANAGER
B-138, Ambedkar Nagar, Alwar-301001 (Raj), India
Landline: [Phone Number Removed For Privacy Reasons]
Mobile: [Phone Number Removed For Privacy Reasons]
From India, Delhi
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181As the market and industry have started showing signs of recovery, with jobs opening up in almost all sectors, the old problem of talent exodus is bound to come back to haunt organizations once again. However, this time attrition may appear to be different from the last one. The reason is that both organizations and employees have observed each other's patterns of behavior during the slowdown period.
Organizations that sowed the wind with harsh measures, such as drastic pay cuts and terminations, should now be prepared to reap a whirlwind in the form of major difficulties in attracting performers and retaining the present ones. Employee turnover has started picking up in the IT/ITes sector, with others to follow. How organizations treated their employees during hard times will be a key determinant of the attrition level and the fabric of the employer-employee relationship.
Changing Dynamics of Attrition
This time, attrition will not be solely for quick growth and money. Business Manager - HR Magazine talked to many employees in different sectors on this issue, and the result of this pulse survey is quite enlightening. Most employees have indicated that they will prefer organizations with transparent HR policies and culture, a caring attitude, high tolerance levels, and good financial health, regardless of whether the compensation package is less if an opportunity arises. Certainly, big brands and MNCs will no longer be the only attraction.
With the economy rebounding, organizations that have not invested intelligently in their people and adopted knee-jerk reactions during the slowdown could face a high level of attrition now. The cover feature of BM is on this topic, with a note of caution for the HR fraternity to pull up their socks to handle the issue as it is almost on a plate.
Free trial copies before subscription are available on a first-come, first-serve basis. You may request them with a complete postal address.
Regards,
Anil Kaushik
Chief Editor, BUSINESS MANAGER
B-138, Ambedkar Nagar, Alwar-301001 (Raj), India
Landline: [Phone Number Removed For Privacy Reasons]
Mobile: [Phone Number Removed For Privacy Reasons]
From India, Delhi
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