Your post reminded me on my school days where I paid Rs.10 when I reached school little late. This seemed to be good methodology to control late coming when was i doing my schooling but you are an HR professional of a small company and the people there are professionals not students to threaten using this way. It would create wrong impression about the company.
If people come late, you should find out why it happens and should look out for some professional way of controlling it. Call for a meeting and discuss with them professionally on the issue or Ask your MD to interact with your employee on the issue or Formulate a policy or create a circular, explaining that if they come late frequently to office, the day when he/she comes late will be considered as absent etc.
Employee may leave your organization because of different reasons:
1. Roles & Responsibilities that have been assigned to them may not add value to their profiles. Role clarity may not be there and Chance to learn now things/ technology in the company may not be there.
2. Compensation may be lesser than the salary of the people in the same industry or the facilities which you provide to them may not be good. There may not be a strong Reward & Recognition system.
3. It may be a family run business where employees are not able see professionalism. There may not be any proper / professional system or control.
4. Training & Development system in your company may be weak.
So try to meet people in your company for a free discussion on the problem/issue they are facing and what are their expectation. Try to convey the same to your MD in a professional way and see what issues/problems can be addressed immediately.
Basically, there are three types of people, 1. People will try to do something new/ try to contribute something to the company and fight with the system to bring in something new and the moment they know they will not get success, they will make themselves comfortable and settle down with the current system. 2. These people will fight, try to contribute something to the company and always be ready to do some things new and bring in some useful system to the organization, the moment they know they will not get success, they will leave the organization and get into other company. 3. People will not do anything useful for the company and will have "coming & going mentality".
Now you need to find out which type of people you have in the company. If you see type 2 people are leaving from you notably then you must seriously look into the system to bring some radical change in the system. Convey the same to your MD and make him understand on the effects if it continues. If you do this, Type 1 people will also be happy and be with you for a longer time.
Do not forget about Type 3 people which we do not want anymore.
11th July 2013 From India, Madurai
16th July 2013 From India, New Delhi
Does the problem still persist,considering the time lag from original post.
If so what all types of analysis were made regarding likely reasons?
Is the product upto the mark in the civil market?
Comparability with similar products-price,quality,performance ?
Are your salesmen well informed about the product and are paid adequate incentives in line with competitors?
How is the after sales effort by your organisation.(This is generally a weak link in most products with emphasis on sales first)
Questioning yourself on these lines would help you identify the weak areas and things will improve.
16th June 2015 From India, Pune