Partner - Risk Management
Management Coach I Hr Strategist I Career
Moreover getting bond signed may be a short term remedy which eventually may effect in attracting talents in future if you have issues like bad work culture , salary disbursements issues etc etc.
Hence instead of doing all these, you may initially do an employee survey to find out the reasons behind the attrition.You may do one 2 one counselling .You may collect feedback/reasons during exit interviews to get yourself familiar with the problems. Take corrective measures on these. Get some employee development plans in place,.Focus on employee engagement programmes and handle employee grievances effectively. These may help you in reduction of attrition.
Hope this will be helpful for you.
24th December 2015 From India, Delhi
If you are not providing formal training, then the bond is not enforceable.
You can send a legal notice and file a civil suite for recovery of the bond money. But any good lawyer will get the judge to throw away the suite, may be even grant litigation costs.
The only major achievement the bond will have is to make it more difficult to recruit.
There are more efficient ways to retain employees
25th December 2015 From India, Mumbai
Find some other methods of retaining employees. Even if basic things employees require, are not provided by the employer, make employees leave - Like good office, good sitting arrangements, lights, space, sitting arrangements, provision of water coolers, good instruments like desktops or laptops and servers / UPS / good delegation of authority, training needs, timely pat on the back (encouragement and acknowledgement of good work done) of the employees and so on.... experts can add many more things.
Remember one sided bonds, i.e. without any obligation on the part of the employer is not a valid document.
25th December 2015 From India, Pune
Introduction of Bond with new joinees will not be Legal & appropriate solution to curb the Attrition rate.
Instead you must try to find out Reasons of High Attrition as rightly pointed out by Sr. Members of this forum.
You can also take the help of some Vendor to conduct a detailed Survey why attrition rate is High in your Co. Consultant/Vendor can be asked to submit the report along with his observations.
This method may provide you the proper Reasons of High Attrition since the employees will feel free to express their views with third Party.
27th December 2015 From India
30th December 2015 From India, Mumbai