I have just joined a company where the attrition rate is too high. Management has assigned me a project on this issue. I need to create a plan, execute it, and identify the reasons along with solutions as soon as possible. I am required to present my plan to management within two days.
I have prepared a rough plan, but I still need input. Can anyone suggest how to plan and what to include in it? How should I proceed with this project?
Thank you.
From India, Vadodara
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8I have prepared a rough plan, but I still need input. Can anyone suggest how to plan and what to include in it? How should I proceed with this project?
Thank you.
From India, Vadodara
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Hi Parul Patel,
I would suggest implementing an Exit Monitoring System to analyze the reasons for resignations. Gather data on resignees from the past 6 months to 1 year and determine the most common reasons. If an Exit Interview system is not currently in place, please introduce one.
If a better salary is the primary reason, analyze your salary structure to ensure it is competitive with peer companies in similar industries.
If the work environment is a factor, consider implementing employee engagement activities such as one-on-one sessions, annual gatherings, fun games, etc.
Today's employees not only consider salary but also value opportunities for growth, job satisfaction, recognition at work, and promotions based on performance and transparent HR policies. Consider introducing a Performance Improvement Plan (PIP) if one is not already in place.
While complete eradication of attrition may not be possible, following best HR practices can help minimize and control it effectively.
Thank you.
From India, Madras
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I would suggest implementing an Exit Monitoring System to analyze the reasons for resignations. Gather data on resignees from the past 6 months to 1 year and determine the most common reasons. If an Exit Interview system is not currently in place, please introduce one.
If a better salary is the primary reason, analyze your salary structure to ensure it is competitive with peer companies in similar industries.
If the work environment is a factor, consider implementing employee engagement activities such as one-on-one sessions, annual gatherings, fun games, etc.
Today's employees not only consider salary but also value opportunities for growth, job satisfaction, recognition at work, and promotions based on performance and transparent HR policies. Consider introducing a Performance Improvement Plan (PIP) if one is not already in place.
While complete eradication of attrition may not be possible, following best HR practices can help minimize and control it effectively.
Thank you.
From India, Madras
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Thanks for your inputs. I have analyze past few records But still i am asked to prepare phase wise plan. Regards Parul
From India, Vadodara
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From India, Vadodara
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Hi,
You can conduct the employee survey by department or based on employees to determine the reasons for high employee turnover and gather feedback from employees regarding the organization. Subsequently, take corrective actions to retain the workforce.
Thanks and Regards,
Ajit Jadhav
From India, Thane
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You can conduct the employee survey by department or based on employees to determine the reasons for high employee turnover and gather feedback from employees regarding the organization. Subsequently, take corrective actions to retain the workforce.
Thanks and Regards,
Ajit Jadhav
From India, Thane
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Dear Madam,
Analysis of reasons for the high rate of attrition is key to preparing the plan of action. Your analysis should identify the following factors along with numerical data:
1. Which department has the highest attrition rate?
2. Which category of employees, such as Salesmen, Production Engineers, Turners, etc., are leaving the most?
3. After how many years of minimum and maximum service in the company are they leaving?
4. To which competitor or other companies are you losing employees?
5. How does your attrition rate compare with the industry benchmark?
6. What are the prominent reasons stated for leaving the job, such as inadequate salary and benefits, bad boss, long working hours, no career growth, lack of appreciation for good work, attraction to multinational/reputed big companies, long distance from home to workplace, or any health hazards?
Analyze the numbers for each set of reasons and rank them from highest to lowest. This analytical data will point towards various areas of action plan, depending on which skilled category of employees or competencies you want to retain. It may require revising salaries and benefits, arranging powerful training or counseling, implementing a promotion policy for career advancement, or enhancing safety measures, among others.
These are just quick trigger thoughts for you to build on and progress further.
V. L. Nagarkar
HR Consultant
From India, Mumbai
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Analysis of reasons for the high rate of attrition is key to preparing the plan of action. Your analysis should identify the following factors along with numerical data:
1. Which department has the highest attrition rate?
2. Which category of employees, such as Salesmen, Production Engineers, Turners, etc., are leaving the most?
3. After how many years of minimum and maximum service in the company are they leaving?
4. To which competitor or other companies are you losing employees?
5. How does your attrition rate compare with the industry benchmark?
6. What are the prominent reasons stated for leaving the job, such as inadequate salary and benefits, bad boss, long working hours, no career growth, lack of appreciation for good work, attraction to multinational/reputed big companies, long distance from home to workplace, or any health hazards?
Analyze the numbers for each set of reasons and rank them from highest to lowest. This analytical data will point towards various areas of action plan, depending on which skilled category of employees or competencies you want to retain. It may require revising salaries and benefits, arranging powerful training or counseling, implementing a promotion policy for career advancement, or enhancing safety measures, among others.
These are just quick trigger thoughts for you to build on and progress further.
V. L. Nagarkar
HR Consultant
From India, Mumbai
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