Appreciate your employee when they do some great things for company apart from regular assigned work. 9 hours of their day they spend near that desk and if that is something they are unhappy with, there are high chances they will find better place to work.Įveryone likes when they are rewarded for their work. Set up great work environment for everyoneĮmployees love the company when the culture around their desk is fun. See to it that your training programs are very interesting and focused to help prepare your employees to do their jobs efficiently and confidently. Your motive for training employee is to enhance their knowledge of the products or services that you r company offer and be able to understand work process. What can reduce Employee Attrition Rate?Īpart from recruitment process, you company must focus on how you train employee, especially newly hired. ![]() In recent events in India, Top IT companies like TCS, Wipro, Infosys have reported average of 25% + of attrition rate which is much of a concern for an organization. But remember that turnover numbers can vary substantially month to month.Īverage Attrition rate in IT industry in 2021 was 16.3% Source. Yes definitely!! you can absolutely get attrition rates of more than 100%. There are various external factors which causes turnover of employee such as accidental events like War, Natural calamities, International Trade restrictions, etc. Which ultimately increases Attrition Rate of a Company. Any reason where employee is unhappy results “Job Switching”. This can include unfriendly work environment, Unhappiness about employee benefits and Remuneration, Low Pay scale, Less career growth opportunities, Work and personal life disbalance, poor job fit ment, Poor learning opportunities, Micro managing etc. There are various factors that causes high attrition rate in an organization. Let us understand what causes HIGH Attrition Rate in a company. Any thing lower than 20% is considered to be fair rate. “High Attrition Rate” indicates that employees are switching job very quickly.Ģ0% or higher attrition rate is considered to be High Attrition rate which a bad sign for an company. “Low Attrition rate” indicates that people are staying with your organization for a longer period of time. It is rate at which how quickly employee is switching Job. “Other initiatives, such as internal job postings for lateral growth, awarding top talent with Esops that are linked to tenure, have been showing positive impact on our talent retention efforts,” said Srikanth Karra, chief human resources officer, Mphasis.Attrition rate of an organization is often referred to “Churn Rate”. The company is providing employees “with cutting-edge work and growth-oriented career paths and encouraging a learning mindset with a plethora of ‘learn anywhere, anytime’ reskilling and upskilling initiatives,” Bethavandu added.Īt Mphasis, upskilling and reskilling initiatives - through its learning resource platform Talent Next - are key to retaining critical resources, as it looks to strengthen digital competencies of existing employees as well as freshers. “Attrition is reflective of the significant surge in demand given the magnitude of opportunities ahead for the IT industry,” he said. ![]() Mindtree is focusing on continually improving its attractiveness as a future-focused, people-centric employer, said chief people officer Suresh Bethavandu. Mindtree has increased promotion thresholds by 25% at the managerial level and adopted an equity compensation approach, over and above the fixed and variable components. ![]() “We will also be increasing the frequency of promotions to our junior employees on a quarterly basis,” the spokesperson added. Infosys and TCS did not respond to ET’s queries.Ī spokesperson for Wipro said it had put in place a rewards programme where top performers and those working on future-focused niche technologies and domains were rewarded with substantially higher increases. At cross-town rival Wipro, it was 23.8%, while Tata Consultancy Services ( TCS) saw a 17.4% attrition rate. Infosys reported a record attrition rate of 27.7% in the January-March quarter. Attrition numbers may have moderated for some of these companies, but they remain a real concern given the huge demand for tech workers, especially after the Covid-19 drove clients across sectors into digital transformation.
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