Global Challenge

ATTRITION: A GLOBAL CHALLENGE

M.L.PANDIA

ATTRITION OUR ASSEST WALK OUT OF THE DOOR EACH EVENING.WE HAVE TO MAKE SURE THAT THEY COME BACK THE NEXT MORNING

- NARAYAN A MURTHY CHIEF MENTOR OF INFOSYS

Attrition ?? "A

reduction in the number of employees through retirement, resignation or death"

Reasons why an employee leaves an organization  Monetary factors  Lack of good working condition No Flexible work schedules.

Cont… Lack of respect Very Few Supportive colleagues: Organization is more concern toward business

Increase in favoritisms

Cont… Employee needs pride in where they work & what they do Lack of appreciation Lack of challenges in job The job or workplace was not as expected

Cont.. The Mismatch Between Job and Person Too Little Coaching and Feedback Lack of support

Cont… Stress From Overwork and Work-Life Imbalance  Loss of Trust and Confidence in Senior Leaders

Less frequency in giving rewards.

EFFECT ON ORGANIZATION IF ITS EMPLOYEE LEAVE  Loss of productivity  Replacing

qualified employees  Poor retention creates a “revolving door” culture within the organization lowering morale and confidence.  Cost of overtime or temporary help  Recruiting costs  Interviewing costs  Time spent in orientation

RETENTION

What is Employee Retention?  Employee

retention is a process in which the employees are encouraged to remain with the organization for the maximum period of time or until the completion of the project. Employee retention is beneficial for the organization as well as the employee.

Importance of Employee retention.  The

cost of turnover  Loss of company Knowledge  Interruption of customer Service  Turnover leads to more turnover  Goodwill of the company  Regaining efficiency

Key Areas in Employee Retention

Compensation

Relationship

Environment

Growth

Support