Now days this is very commonly seen problem by many organisations. Thus, some companies have started security deposit from employees of 1 or 2 months salary amount. This amount will be given back to them after completion of 1 or 2 years of service only. If anyone leaves the job within this period then the employer has an amount in hand to adjust against his / her notice period and rest can be paid back.
There are cultural differences from one country to another and you need to understand why is this happening. While Manoj has given solution to handle this challenge, nevertheless, it appears to be coercive. The solution is given to pressurise employee to continue their stay. How far will it work that remains to be seen.
Employees are expected to show their steadfast allegiance towards their organisation. Far from being steadfast, they do not show even ordinary allegiance and whenever they get better opportunity, they just dump your organisation. This shows that mentally they had resigned from the organisation. What matters completing the physical separation.
What is happening in your company is because of employees' mental disengagement. You need to investigate causes of it. For this, you may conduct Employee Satisfaction Survey (ESS) and find out where you are going wrong. In one of my earlier replies, I have given exhaustive list on why employees quit the company. Click the following link to refer it:
Attrition Analysis: - Earlier I have given exhaustive reply about attrition analysis. Check the following link to refer it:
Do the attrition analysis for the last 4-5 years. You will find that there is certain trend in the employee turnover. The research data will give you insight to take corrective measures.
Employees stay in the company when they have opportunities to grow and there is brand attractiveness. If you wish to discuss with me on this issue, feel free to call me on WA or Google Duo or Skype.
From India, Bangalore