Dear Sir, Our group consists of five companies, but the attrition rate is very high. Can you suggest a method to reduce this rate and provide some strategies to encourage employees, such as outlining career paths within the organization, offering incentives, or establishing a proper salary structure to address the aforementioned issue? All five units are manufacturing units in the steel sector and textiles.
Thank you,
Regards.
From India, Nagpur
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Thank you,
Regards.
From India, Nagpur
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You can implement the below methods in order to overcome attrition.
1) Monitor unions and ensure who is playing the negative part.
2) Address employee queries in detail and see what exactly they are looking forward to.
3) Incentivize them based on every task, offer quarterly bonuses, or give holiday packages to their dependents and family.
4) Instead of offering a higher salary, consider setting up an education fund to support their children's education.
From India, Gandhinagar
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1) Monitor unions and ensure who is playing the negative part.
2) Address employee queries in detail and see what exactly they are looking forward to.
3) Incentivize them based on every task, offer quarterly bonuses, or give holiday packages to their dependents and family.
4) Instead of offering a higher salary, consider setting up an education fund to support their children's education.
From India, Gandhinagar
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The reasons for attrition vary, and it is impossible for members of this forum to guess the reason for it in your organization. Therefore, to start with, you must identify and tell us why people are leaving. Have you conducted exit interviews to find out what the problem is? For example, if they are leaving because your wages are lower than the industry standard, then you already know what you need to do.
From India, Mumbai
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2508From India, Mumbai
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First of all, you need to prepare a fact datasheet for departing employees and try to find the reasons for their separation. Analyze them and put forward a proposal to management. If the majority of departing employees cite inadequate salaries and perks as the reason, you can suggest to management a pay hike. Other reasons could include lack of promotions, growth opportunities, job freedom, absence of leaves/holidays, micromanagement by superiors/HOD, lack of personal development, and inadequate rest time.
If you sincerely conduct exit interviews with departing employees, collect and analyze data properly, you can significantly reduce the attrition rate.
From India, Aizawl
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If you sincerely conduct exit interviews with departing employees, collect and analyze data properly, you can significantly reduce the attrition rate.
From India, Aizawl
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Effective employee retention strategies-BPO. doc
Attrition Control and Retention Strategies for Changing times.ppt