attrition & retention

ATTRITION: ATTRITION: A GLOBAL A GLOBAL CHALLENGECHALLENGE

KRUPALI SHAHKRUPALI SHAH

ATTRITIONATTRITION

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

- - NARAYAN A MURTHYNARAYAN A MURTHY CHIEF MENTOR OF INFOSYSCHIEF MENTOR OF INFOSYS

Attrition ??Attrition ??

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

Monetary factors

Lack of good working condition-

No Flexible work schedules.

Reasons why an employee Reasons why an employee leaves an organizationleaves an organization

Lack of respect-

Very Few Supportive colleagues:

Organization is more concern toward business

Increase in favoritisms

Cont…Cont…

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

The Mismatch Between Job and Person

Too Little Coaching and Feedback

Lack of support

Cont..Cont..

Stress From Overwork and Work-Life Imbalance

 Loss of Trust and Confidence in Senior Leaders

Less frequency in giving rewards.

Cont…Cont…

EFFECT ON ORGANIZATION IF EFFECT ON ORGANIZATION IF ITS EMPLOYEE LEAVEITS EMPLOYEE LEAVE

Loss of productivity Loss of productivity Replacing qualified employeesReplacing qualified employees Poor retention creates a “revolving door” Poor retention creates a “revolving door”

culture within the organization lowering culture within the organization lowering morale and confidence. morale and confidence.

Cost of overtime or temporary helpCost of overtime or temporary help Recruiting costsRecruiting costs Interviewing costsInterviewing costs Time spent in orientationTime spent in orientation

RETENTIONRETENTION

What is Employee What is Employee Retention?Retention?

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

Importance of Employee Importance of Employee retention.retention.

The cost of turnoverThe cost of turnover Loss of company KnowledgeLoss of company Knowledge Interruption of customer ServiceInterruption of customer Service Turnover leads to more turnoverTurnover leads to more turnover Goodwill of the companyGoodwill of the company Regaining efficiencyRegaining efficiency

Key Areas in Employee Key Areas in Employee RetentionRetention

Compensation Environment Growth

RelationshipSupport