Attrition_Control_and_Retention_Strategies_for_Changing_times.pptx

The file contains attrition informtion

1. Attrition and Retention

2. Attrition: A reduction in the number of employees through retirement, resignation or death. Attrition rate: The rate of shrinkage in size or number.

3. FACTORS AFFECTING ATTRITION INDIVIDUAL ORGANISATIONAL Role Related OTHERS Peer pressure Environment Ambitions/Career aspirations Parental/Family mobility Personality factors No challenge No learning Style of boss Role clarity Role stress Lack of independence Culture Growth and career paths Pay packets

4. Retention tools Offer Compensation – Attractive And Competitive . Benefits Need To Be Quantified And Qualitative. Train your front-line, managers and administrators. Roles and responsibilities needs to be dovetailed. Enhancement, Advancement And Progression Opportunities. Offer retention bonus. Retention strategies implementation needs to have a process owner. Go in for Employee Engagement Practices. Teamwork And Cross Functional Teams.   Fun Is Must Transparency in communication Encourage higher learning. Develop an effective induction program. Value your employees.

5. Companies that are good to work in stick to these basics Hiring through referrals. Happy employees will only refer those who fit the company needs. Being a centre for learning. Providing extensive training including using internal specialists. Offering cross-functional growth opportunities. Growth is no longer in a department silo. Always completing the feedback loop. Great workplaces correct the wrongs. Not leaving flanks open to talent outage. They Make concrete succession plans. Building empowerment into systems. No amount of training can ensure this. Ensuring fun. Impromptu parties, family outings, etc. for staffers create profitable companies.