Dear friends,
Whether business sentiment is up or low, the rupee slides or regains, austerity measures need to be taken or not, one factor remains challenging for businesses, and that is the quality of hiring people. All people-related problems arise in business due to this factor, specifically when hiring regains and everybody starts taking firefighting measures to bring headcounts at par with the organization's requirements, diluting the quality in hiring processes.
This may happen again because there are signs of upward hiring in all important sectors in the coming FY. The 2012-13 BM-Genius survey conducted to gauge the mood of corporates for hiring, pay hikes, retention, and attrition ratify this mood. There are also many other survey findings suggesting low pay hikes and an increase in attrition. It is natural. Whenever hiring regains, attrition also shoots up. Attrition and retention work together as one group is pushed out through attrition just as the organization attempts to retain another. All these indicators pose an everlasting challenge for HR professionals sitting at the helm of affairs to ensure good hiring practices, bringing attrition down with low pay hikes compared to last year.
BM talked to dozens of HR people, experts, and thinkers, and all have put one common prerequisite to meet out these challenges - the quality hiring practice. HR people have their perspective. In most organizations, hiring is always done under pressure from technical departments to meet the people requirements immediately. Technical people don't appreciate the necessity of enough time for quality hiring. Under pressure, headcount hiring always results in first-year attrition casualties. First-year attrition is a silent killer for organizations. The first-year attrition damage can be disastrous at worst. It resonates across the organization far more quickly.
Understanding that hiring practices and retention policies go hand in hand can result in formulating and implementing better people management policies. Attrition levels can be lowered to a large extent if the recruitment and retention functions are intelligently integrated. It should be a part of a long-range plan and not of meeting short-term goals.
Organizations need to become more aware of the strategic importance of recruiting high-quality employees at a matching cost, but it is also important that every recruitment channel is aligned to the quality of sourcing and selection standards, which reduces attrition. If you are going to use the recruiting agency, make sure they are fully engaged, understand your business, the role, and ultimately what you are looking for. Close engagement of the agency with the organization will increase the chances of finding the right person - and how good the agencies work so closely with the organizations to make quality hiring is open to debate.
As earlier said, the June 12 issue of BM is an attempt to present a comprehensive picture of current hiring practices, retention techniques, and reducing attrition through articles, discussions, and experts' views.
Regards,
Anil Kaushik
Chief Editor, Business Manager-HR Magazine
B-138, Ambedkar Nagar, Alwar-301001 (Raj.)
[Phone Number Removed For Privacy Reasons]
Welcome to Business Manager | Home
From India, Delhi
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181Whether business sentiment is up or low, the rupee slides or regains, austerity measures need to be taken or not, one factor remains challenging for businesses, and that is the quality of hiring people. All people-related problems arise in business due to this factor, specifically when hiring regains and everybody starts taking firefighting measures to bring headcounts at par with the organization's requirements, diluting the quality in hiring processes.
This may happen again because there are signs of upward hiring in all important sectors in the coming FY. The 2012-13 BM-Genius survey conducted to gauge the mood of corporates for hiring, pay hikes, retention, and attrition ratify this mood. There are also many other survey findings suggesting low pay hikes and an increase in attrition. It is natural. Whenever hiring regains, attrition also shoots up. Attrition and retention work together as one group is pushed out through attrition just as the organization attempts to retain another. All these indicators pose an everlasting challenge for HR professionals sitting at the helm of affairs to ensure good hiring practices, bringing attrition down with low pay hikes compared to last year.
BM talked to dozens of HR people, experts, and thinkers, and all have put one common prerequisite to meet out these challenges - the quality hiring practice. HR people have their perspective. In most organizations, hiring is always done under pressure from technical departments to meet the people requirements immediately. Technical people don't appreciate the necessity of enough time for quality hiring. Under pressure, headcount hiring always results in first-year attrition casualties. First-year attrition is a silent killer for organizations. The first-year attrition damage can be disastrous at worst. It resonates across the organization far more quickly.
Understanding that hiring practices and retention policies go hand in hand can result in formulating and implementing better people management policies. Attrition levels can be lowered to a large extent if the recruitment and retention functions are intelligently integrated. It should be a part of a long-range plan and not of meeting short-term goals.
Organizations need to become more aware of the strategic importance of recruiting high-quality employees at a matching cost, but it is also important that every recruitment channel is aligned to the quality of sourcing and selection standards, which reduces attrition. If you are going to use the recruiting agency, make sure they are fully engaged, understand your business, the role, and ultimately what you are looking for. Close engagement of the agency with the organization will increase the chances of finding the right person - and how good the agencies work so closely with the organizations to make quality hiring is open to debate.
As earlier said, the June 12 issue of BM is an attempt to present a comprehensive picture of current hiring practices, retention techniques, and reducing attrition through articles, discussions, and experts' views.
Regards,
Anil Kaushik
Chief Editor, Business Manager-HR Magazine
B-138, Ambedkar Nagar, Alwar-301001 (Raj.)
[Phone Number Removed For Privacy Reasons]
Welcome to Business Manager | Home
From India, Delhi
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The key to addressing the challenges posed by hiring quality people, increasing attrition rates, and the need for effective retention strategies lies in prioritizing quality hiring practices. To mitigate first-year attrition and ensure long-term organizational success, HR professionals must emphasize the importance of strategic recruitment aligned with retention goals. Integrating recruitment and retention functions intelligently, focusing on long-range planning rather than short-term fixes, and ensuring recruitment channels uphold high sourcing and selection standards are crucial steps. Engaging recruiting agencies closely, ensuring they understand the business needs, roles, and desired outcomes, can significantly enhance the likelihood of successful hires. By adopting these strategies and recognizing the interconnectedness of hiring, retention, and attrition, organizations can proactively manage their workforce and drive sustainable growth.
From India, Gurugram
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From India, Gurugram
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Attrition Control and Retention Strategies for Changing times.ppt
Effective employee retention strategies-BPO. doc