Struggling with High Turnover: How to Draft a 2-Year Bond Agreement for Managers?

Hi all,

One month ago, I joined a small company as HR & ADMIN. This is my first job in HR - ADMIN. The issue is people don't stick with the company for long; they just work for a maximum of 3 months and then leave the job. My director wants me to prepare a bond agreement for a manager for 2 years so that they can't leave the company before 2 years. Kindly share the format of the bond agreement for higher-level designations.

Dear Jyoti, you have approached this forum for the format of the agreement between the employer and employee for the lock-in period of employment. However, have you studied the efficacy of these agreements? Such agreements may create deterrence, but do these bonds really have a positive impact on the business? To contain employee attrition, it is important to make service conditions attractive. What steps have you taken to do that?

Employee Attrition Analysis

Let me give you another viewpoint as of now. If employee attrition has increased, then the first thing that has to be done is to conduct an "Employee Attrition Analysis." Have you done that? Secondly, you could have checked this forum before raising this query. Look at the right sidebar, and you will find posts about attrition analysis. Earlier, I had given an exhaustive reply about attrition analysis. Check the following link to refer to it: https://www.citehr.com/519562-employ...ml#post2211229

Earlier, there was a report in the Times of India on why employees quit their companies. Click the following link to refer to it: Bosses, not money, make staff stick to the company - Times of India

Go through the above links, do the attrition analysis, and come back to this forum with your action plan to contain attrition. Last but not least, what about your management? Are they worried about employee attrition? Will you get support from them to retain employees?

Thanks,
Dinesh Divekar