The rate of attrition, which fell considerably in the last two years due to the IT slowdown, is once again raising its ugly head, say industry experts. Growth in volumes and rapid scaling up of offshore development centers (ODC) by multinational companies has once again made attrition a key issue in the Indian information technology (IT) space. Companies such as Infosys and Wipro have seen their attrition rates go up during the last few quarters. Mid-sized companies have also seen attrition go up significantly. Polaris Software Lab has seen its attrition rates rise to 14 percent after the merger with OrbiTech Solutions. The most obvious way companies are dealing with the rising attrition rates is through salary hikes, among other measures.
From India, Vashi
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3From India, Vashi
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Hi,
The increase in the attrition rate is not only because of the industry's growth and other monetary issues. Factors like job satisfaction, having the right job at the right time, a person's position in a company, etc., contribute significantly to attrition. If a person is given the right job, position, responsibilities, freedom to make decisions at their level, time to show results, proper training, along with good remuneration and benefits, they will never think of seeking other opportunities. Employers have the duty to ensure that individuals are well-placed in the organization based on their qualifications and experience, and also to ensure that they enjoy the work environment and other job-related factors.
Please correct me if I'm wrong.
Regards,
Jay
From India, Madras
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The increase in the attrition rate is not only because of the industry's growth and other monetary issues. Factors like job satisfaction, having the right job at the right time, a person's position in a company, etc., contribute significantly to attrition. If a person is given the right job, position, responsibilities, freedom to make decisions at their level, time to show results, proper training, along with good remuneration and benefits, they will never think of seeking other opportunities. Employers have the duty to ensure that individuals are well-placed in the organization based on their qualifications and experience, and also to ensure that they enjoy the work environment and other job-related factors.
Please correct me if I'm wrong.
Regards,
Jay
From India, Madras
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Employee Engagement – Scaling Down Attrition.pdf
SAMPLE Employee Attrition Calculation sheet for FY 09-10 .xls