The study will analyze different aspects of attrition and managing attrition in different situations. Knowledge and people form the key factors for any company in the IT industry. The success of any IT company depends on how effectively it manages knowledge and its people. Retaining knowledge and people becomes very important. Being a people intensive industry, employee retention and thereby the retention of knowledge directly influence the performance of the company. Information Technology Industry is a support industry and performance of the IT industry will thereby be a reflection of the current economic environment. when the industry is doing well, the growth of any IT company will be seen in the growing numbers. Also continued business from customers can be ensured only with the retention of key personnel. when the industry is facing challenges, it becomes all the more important to retain policy and retention management approach can be different situations. The study will look into the attrition policy of the organization and evaluate this using the data, collected and come up with suggestions to fine-tune the policy in different economic environments. Research: This would be constituted by Primary and secondary data. In IT industry where companies are competing freely for talent, hiring in hurry can be a big mistake. some most talented are often also the most prone to climbing by shifting from one company to another. Research and detailed study would be done amongst the HR team to know the recruitment polices followed by the firm. Polices "to hire stayers rather than stars"
[...] TRACKING ATTRITION CAUSES Attrition is a measurement of the company's ability to provide timely and competent service, from the installation through to the termination process (move to a rest home/nursing care). There will be Acts of God (Hurricane Andrew Homestead, Florida in 1992) and economic downturns (1991 Recession with the Northeast and Southwest United States) that also impact attrition beyond “service” causes. The reasons for the “dissatisfaction measurement” are, for the most part, company caused and the attrition tracking process should be managed to identify and rectify those causes within each organization. [...]
[...] Most unionized companies cannot unilaterally reduce their employment levels to cut costs, so management must rely on attrition . It's well known that India's main competitive advantage in software and services is its abundant high quality and cost effective pool of skilled knowledge workers. Today India is a magnet for software clients because of its vast resources of skilled manpower. The most immediate concern facing the industry is the increasing levels of attrition. Call centers for instance have an attrition rate of 30-35%, other than the natural rate of attrition , poaching of employees, burn out and high stress environments are causing an increasing alarm rate. [...]
[...] Since attrition policy of any firm is directly proportional to its recruitment polices the report would even talk about methods to fine- tune the recruitment process in a manner the company is able to get the best talent available Study the opportunities that are offered to the employees and the organization climate prevailing Above all, what impact different economic environments have over attrition in a company. what are the steps that are taken or can be taken to accustom to the environment. [...]
[...] ANALYSIS SALARY AS A REASON FOR ATTRITON Employee Response Analysis : below table shows that 16 engineers agree that salary can be one of the reasons for attrition and 7 of them don't agree with the same. This reflects that salary is one of the driving aspects for attrition. However most of the IT managers believe salary is not the major factor Participa Yes No May be nts working environment Employee response Analysis: the below table shows that almost 92% of engineers say that pleasant working environment is a must if the company wants to retain its employee for a long tenure. [...]
[...] Since attrition policy of any firm is directly proportional to its recruitment polices the report would even talk about methods to fine- tune the recruitment process in a manner the company is able to get the best talent available Study the opportunities that are offered to the employees and the organization climate prevailing Above all, what impact different economic environments have over attrition in a company. what are the steps that are taken or can be taken to accustom to the environment. [...]
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