Really Difficult To Retain The Employee In The IT Co.?

Hi,
Is this really difficult to retain the employee in the IT Company? :roll:
I am working in IT company in Jaipur, having the strength of 92 employees working in the company.
As todays market senario it's really difficult to retain the employee in the company and the only mode of retaing the empoyee is MONEY.
As the increment due they simple ask to increase the salary beyond their performance and if company refuse for the expected increment......."NOTICE OF RESIGNETION".
Can you please help me out in handling this situation :?:
Regards
Shivani
HR

Hi shivani,
In the present market scenario, it is very difficult to retain prospective employees. but few things we can do to retain them,
1) Study the market compensation structure in advance and try to update in par with the market.
2) Try to give more value add service to your employees like loan facility, stress more on benefits which are provided to them.
3) Maintain positive and caring atmosphere by responding to your employee at any moment. like your services are there to serve them better and maintain ease at work.
4) advice management to interact with the employees regularly at least once in a month.
5) Conduct employee satisfaction survey once in a month to update your selve.
still many more points are there to retain them. iam sure this may help u.
regds.
Y.Gangadhar
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Hi,
It is always suggestable to interact with employees informally.
Interaction will help you to understand employees grievances and whats runnung in his/her mind.
I usually go for informal interaction like asking questions about his work and sometimes personal life as well, if he/she are comfortable.
Based on my interaction and observation, I discuss with employee by posing questions and try to bring out problems.
If the problems are really a problem, I make the employee to understand that or if the problem where I need to discuss with his/her supervisor, I will that.
Since your company has less number of employees, you can interact with then personally.
If you got more employees, then you can grievance cell, wherein employee wil be sharing their problems by sending mails without letting their identity to know etc.
Hope this info will help you.
Thanks
Pallavi.

Hi
Thanks for you great suggestion.
I am having good relation with the all employees in the company and I usually go for informal interaction like asking questions about his work and sometimes-personal life as well, if he/she is comfortable.
With all this, I can negotiate with them in their increment expectation but still after Negotiation Company will paying them beyond their performance.
They are taking the advantage of the market demand and this will bring dissatisfaction among other employees.
Can’t we make any system for it?
Regards
Shivani

Just adding some fun to this post.....Don't mind....
Regards,
Darshan