anil kaushikDear Friends,
Employee turnover is expected to rise to 26.9 % in 2013 compared with 26% in 2010 which is highest in the world according to Hay group study, raising concerns on employee engagement and retention. In spite of making so much noise in conferences, HR summits,workshops and training programs, has something changed at ground level? Where HR is lacking? what is your take?
Business Manager :: Making HR People CompleteBusiness Manager :: Making HR People Complete
From India, Delhi
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Partner - Risk Management
B K BHATIA
Director Of Company
B K BHATIAI would like to know if the 'Attrition' rate at middle & senior levels has contributed to the overall increase in percentages. Well, at the entry level job change seems to be more of a trend; youngsters want to have a new experience every year. Their main requirements are more money & more fun. Very few get fascinated by more challenges & an opportunity to learn. And those who do so, stay on for a couple of years & then look out for their market worth and finally go in for a change. And there should be nothing alarming about this trend; such a migration from small companies --> mid size --> MNCs & sometimes in the reverse order (only 3 - 5%) will continue unmindful of the effort put in to retain people.
But more important for the organizations is to arrest the move of talent (the real contributors to business). Who form part of the 'Talent pool' of the organization & what effort should be put in to retain them should be the real concern? Thus increase in % attrition from the talent pool shall worry me more than the statistics presented in the study.
Organizations utilizing 'EmpXtrack' to identify talent pipe lines have successfully launched initiatives to retain their best lot, and probably their second best too. I find no major cause for concern where the choice of technology is appropriate, where organizations don't have any fixed ideas on their compensation philosophy & where attractive incentive schemes are considered as the drivers of retention.
From India, Delhi
saswatabanerjeeKaishik I doubt the validity if the claim that employee turnover is 26% Just check around, ask among your friends. Except Bpo and call Center, which industry has people leaving at that rate ?
From India, Mumbai