How Can HR Reduce Attrition Without Creating a Negative Work Environment?

Hello HR Folks,

I am working with a software company, and our management wants HR people to make our system more secure to reduce attrition. Management has suggested that at the time of joining, we should either go for a bond, deposit employees' original certificates with us, or take money from them as security. Being an HR professional, I feel this approach may spread negativity in the minds of new employees.

Seeking Advice on Reducing Attrition

Please help me with this and suggest the best suitable way to reduce attrition. Should I align with the management?

Thank you,

NK

The best way to stop attrition is not through a bond, taking certificates, or, in the worst-case scenario, money. Please never think about taking money from the employees, as that will affect the overall reputation of your company. You could talk to your management and implement good working cultures, welfare measures, a strong compensation policy, incentive schemes, team gatherings, ESOP, etc., to retain your employees.

I fully agree with Mr. Suresh. In addition to this, you can start a 'SUGGESTION SCHEME' for your employees. Through this scheme, they can express their feelings and thoughts. Simply gather input from them through their suggestions, which would help you review your policies and practices.

You cannot think about taking money as this will definitely create negativity. You need to use retention strategies such as:
- Town hall
- Talk HR
- Employee engagement activities
- Buddy systems
- Initiating WE LISTEN - a tool for grievance handling
- Hall of fame

These are some suggestions. Please brainstorm a few more and implement them.