Strategies for Employee Retention and Addressing High Attrition Rates: Expert Insights

One of our department's functions is to support and provide services for various customers. We have recently noticed that the attrition rate has increased by approximately 20-25%. When we question employees about this issue, they tend to offer different versions of the situation, showcasing their innovative thinking. How can we uncover the truth from them? We are seeking expert opinions and insights on this matter.

Conducting exit interviews could be one way of finding out the reasons behind this high turnover. Another approach is to conduct an employee satisfaction survey but using an experienced external provider. Using an external provider gives the employees assurance of data confidentiality. With the results from the survey, you can then implement targeted interventions.

Autumn Jane

Hi Thiru,

"Factual truth" is what is required by all companies from a resigning employee. And it is precisely why we have "Pre and Post Exit Interview Sessions" with resigning/resigned employees. How critical an employee would be during those sessions is debatable; but it all matters how smartly you draft/conduct such a session, to get the factual reasons employees are resigning and also the employee is assured that his feedback won't be used against him now or in the future.

Besides, I would add besides collecting such information for analysis for Management, what matters most is "How much of this information would actually be used by management to take corrective actions" to ensure attrition is curbed. Seldom, it is noted that such feedback is on paper or on your desktop to be finally thrown in the dustbin.

Here are points to ponder when you design your retention strategy:

Remember "Retention not Possible": (a) If you don't have a plan to retain employees (b) if you don't have various tactics and strategies & (c) if you don't have a plan to boost employee satisfaction and morale.

Ukmitra

Please invite students from management institutes to conduct surveys in your organization. You can tailor-make the survey to achieve your goals as well as get the students to mingle well among staff. I have found out that the staff are more free with students as they are not taken very seriously. You will be amazed to gather the factual truth that you want.

Friend,

You have not mentioned the type of industry you are in.

Attrition rate of 25% is quite high. Hence it has to be understood that there is something radically wrong. Have you done any sort of introspection internally among yourselves.

Are you in tune with industry standards? If so, do you provide equal opportunity for growth to your employees?

Do you have any structured growth plan for your employees?

"GRILLING" of the employees is not at all required. People on their own would open up if you have a sound HR policy with a level-headed, mature person on the top.

However, immediately you can probably conduct an in-house opinion poll wherein you can structure questions so as to get a proper inference. This must be voluntary, anonymous, and above all, the employees must be given the confidence that they will not be punished for being frank in their opinion.

By and large, this issue is not very serious and can be tackled effectively if only you have a good HR policy and an attitude conducive to growth and comparable standards in the industry.

Design a questionnaire for a survey to be conducted by a third party in such a way that the truth can be elicited. If you directly ask somebody why they are dissatisfied, they may give a distorted response, which will not serve your purpose. An exit survey may bring such varied responses that you may find it difficult to implement. Therefore, you may need to opt for a survey conducted by professionals who can help you uncover the truth through well-designed and structured questionnaires.

Dear Thiru,

I have a question to ask. Did you try to find out which is the dream firm and the dream job for these employees?

Last year, I attended the Chief Learning Officer's Summit in Mumbai. There, the head of HR from Polaris had shared this perspective: "Trying to curb attrition by identifying leading and lagging factors isn't better than becoming their 'Employer of Choice' and embodying that. Each time an employee considers a job change to work with their dream employer, they should see their current employer in that light."

Since you have been engaged in employee satisfaction research, consider exploring this approach for a change.

Wishing you all the best!

Dear Thiru,

One of the biggest challenges faced by our HR colleagues is what you are facing. Invariably, we find employees hopping jobs for a rise in pay, and the feeling amongst employees is that one should not stay in an organization for more than 3-4 years. A 30-40% hike for every job hopper in addition to what he gets during the 3-4 years of his stay in an organization is quite a common feature we see these days. As long as these job hoppers are encouraged, this trend will continue.

Yet another underlying fact is companies entertain recruitment through consultants. Some consultants (I don't blame everyone) who have a passion for making a fast buck keep shuttling candidates from one organization to the other and earn money in the process. In some instances, one employee who leaves the organization tends to pull other colleagues to his new company with a view to boost his image in the new organization.

Try to find out the source through which you are losing people heavily, and then you will be able to minimize attrition. A tough exercise, though.

M.V. Kannan