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It is a very good presentation. One of the key challenges facing present-day HR leaders is the high attrition rate. There should be a strategy in place to tackle this issue.
Peter F. Drucker's Observation
The doyen of Modern Management, Peter F. Drucker, made a pertinent observation in one of his books at the turn of the century. He describes talented, experienced people as KNOWLEDGE WORKERS who would be difficult to contain. They would readily move when they get the right opportunity.
Addressing High Attrition Rates
Attrition is not new. What is alarming is the unprecedented high rates of attrition. The magnitude of the problem is greater than ever before and hence has to be effectively addressed.
Regards,
V. Raghunathan
Navi Mumbai
From India
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Peter F. Drucker's Observation
The doyen of Modern Management, Peter F. Drucker, made a pertinent observation in one of his books at the turn of the century. He describes talented, experienced people as KNOWLEDGE WORKERS who would be difficult to contain. They would readily move when they get the right opportunity.
Addressing High Attrition Rates
Attrition is not new. What is alarming is the unprecedented high rates of attrition. The magnitude of the problem is greater than ever before and hence has to be effectively addressed.
Regards,
V. Raghunathan
Navi Mumbai
From India
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Thank you, Mr. V.R., for your comments and contributions to the subject. You are absolutely right that the workforce today is knowledge-based. They frequently make changes whenever they find any opportunity. The role of HR professionals is becoming increasingly challenging. We have to be versatile in our roles. Talent acquisition, maintenance, and retention are crucial for survival in a competitive environment.
From India, New Delhi
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From India, New Delhi
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Dear Mr. Bharadwaj Ramesh, thanks for the prompt reply. They say in management that an optimist sees a solution to a problem that he faces. I am not an HR professional but a keen enthusiast and a sincere beginner. I am tempted to make an approach paper with the following highlights.
SWOT Analysis on Attrition
Organizations must make SWOT analysis concentrating on T and O in that order.
Threat - Talented employee wants to leave/resigned
Opportunity - Has the management considered all avenues? – Say pay rise, promotion, higher responsibilities, etc., alone or in combination
Threat – Extending facilities or agreeing to the demand of one might create an imbalance in the organization and frustration amongst other employees.
Opportunity – Are the current pay scales at par/better than industry/regional norms? Is this the occasion to suggest to top management for a market correction?
Threat – Whatever you do, the person leaves or is firm on leaving (employee point of view)
Opportunity – Can you extend his period of stay, say even with a higher pay for a shorter period of a couple of months to gain time? Do you have management’s mandate?
Threat - Whatever you do, the person leaves or is firm on leaving (replacement point of view)
Opportunity - How quickly can HR arrange a replacement? Is there a data bank? How easy or cumbersome is the replacement procedure as per recruitment policy? If the recruitment is through a professional agency, how quickly can they swing into action?
Threat – The new person would take time to join, and the existing incumbent would leave before the new person joins.
Opportunity – True. Is it possible that the new person comes for a short period immediately to understand the basics before the existing person leaves? Find ways of smooth baton change.
Threat – The new person will take time to understand the organization culture and pick up the basics before he starts delivering.
Opportunity – This is the age of ‘computers and information’. Are systems in place by way of recorded information and procedures to enable the new person to settle down quickly?
I am sure HR professionals would have more to interact and throw more light to alleviate the challenge.
Regards,
V. Raghunathan, Navi Mumbai
From India
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SWOT Analysis on Attrition
Organizations must make SWOT analysis concentrating on T and O in that order.
Threat - Talented employee wants to leave/resigned
Opportunity - Has the management considered all avenues? – Say pay rise, promotion, higher responsibilities, etc., alone or in combination
Threat – Extending facilities or agreeing to the demand of one might create an imbalance in the organization and frustration amongst other employees.
Opportunity – Are the current pay scales at par/better than industry/regional norms? Is this the occasion to suggest to top management for a market correction?
Threat – Whatever you do, the person leaves or is firm on leaving (employee point of view)
Opportunity – Can you extend his period of stay, say even with a higher pay for a shorter period of a couple of months to gain time? Do you have management’s mandate?
Threat - Whatever you do, the person leaves or is firm on leaving (replacement point of view)
Opportunity - How quickly can HR arrange a replacement? Is there a data bank? How easy or cumbersome is the replacement procedure as per recruitment policy? If the recruitment is through a professional agency, how quickly can they swing into action?
Threat – The new person would take time to join, and the existing incumbent would leave before the new person joins.
Opportunity – True. Is it possible that the new person comes for a short period immediately to understand the basics before the existing person leaves? Find ways of smooth baton change.
Threat – The new person will take time to understand the organization culture and pick up the basics before he starts delivering.
Opportunity – This is the age of ‘computers and information’. Are systems in place by way of recorded information and procedures to enable the new person to settle down quickly?
I am sure HR professionals would have more to interact and throw more light to alleviate the challenge.
Regards,
V. Raghunathan, Navi Mumbai
From India
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