• Over 40 per cent of India's workforce will quit their current jobs within the next six months - TimesJobs.Com • Attrition rate is the biggest threat to corporate security in India because of competing interests Businessline.com • The cost of hiring a fresh employee is 7 times more than retaining an existing employee. • On average, attrition costs companies 18 months’ salary for each manager or professional who leaves (1). i.e Infosys, which had appox 7,833 - Ipsos-Reid (2) leaving in Q1 of 2010 and an avg. Pay package of 5.7lk per annum - DQ-IDC Salary Survey (3), lost 446cr. in 3 months! Economic times
Transcript
• Over 40 per cent of India's workforce will quit their current jobs within the next six months - TimesJobs.Com
• Attrition rate is the biggest threat to corporate security in India because of competing interests Businessline.com
• The cost of hiring a fresh employee is 7 times more than retaining an existing employee.
• On average, attrition costs companies 18 months’ salary for each manager or professional who leaves
(1). i.e Infosys, which had appox 7,833 - Ipsos-Reid (2) leaving in Q1 of 2010 and an avg. Pay package of 5.7lk per annum - DQ-IDC Salary Survey (3), lost 446cr. in 3 months! Economic times
Attrition Rate (%) = (E / T) * 100
E = No. Of employees left in a monthT = Total number of employees in a month
Bonds – Mainly 2 Years
Empowerment through decentralization
Flexible Timings
Employee Welfare Measures
Performance Based Incentives
Continuous Feedbacks
Open Door Policy Regular Training
Team Building Exercise
• Employee First Customer Second.
• Designing the work culture in such a way that the diverse backgrounds are Dealt with.
•Motivation, Recognition, Exposure
• Quarterly Feedbacks Exit Interview Feedbacks
• Proper balance between Professional and Personal relationship with the employee
• Subsidize Education and Certification
CREDITS
Project Submitted By : Abhimanyu Sahai PGP01003Arun Marik PGP01014
