Copy of HRM-Attrition

8/8/2019 Copy of HRM-Attrition

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SYMBIOSIS INSTITUTE OF MANAGEMENT STUDIES

Human Resource Management

Research Project

Submitted by: Section-E

Spurti Roy Kolli -06

Swati Maheshwari-15

Viraja Devi Vakada-23

Siddharth Ananth- 32

Sukhpreet Banipal- 41

Varun Mathur- 49

Yash Rathore - 57


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IntroductionDefining Attrition:

A reduction in the number of employees through retirement,

resignation or death .

Defining Attrition rate :

The rate of shrinkage in size or number .

What is Attrition problem?


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R

easons for attrition1. Organizational matters


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R

easons for attrition2. Working environment


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R

easons for attrition3. Job Matters


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R

easons for attrition4. Salary and other benefits


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R

easons for attrition5. Personal reasons


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R

easons for attrition6. Poaching


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R

easons for attrition7. Employees Advocate


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Primary Data Analysis


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Providing Stimulating Work

EnvironmentBASE 50

%

Happy 57

Neutral 39

Unhappy 17

Heavy pressure 17

Moderate pressure 66

Light pressure 1720- 45 work hrs 8

46- 50 6

51-55 48

56- 60 36

refused 2


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L

eave Sanction

BASE 50

%Yes, problem to break 36

No, problem to break 88

Refused 4


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Worked Overtime

BASE 50%

1- 2 hrs 29

> 2 hrs 27

Refused 44


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Food Facilities & Quality

BASE 5

%Good 41

Average 51

Poor 4

Cant say 4


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Reasons For Quitting

BASE 50

%

Compensation 30Personal reasons 2

Career 22

Relocation 16

Health issues 4

Other reasons include better learning opportunities, regular

holiday packages, gifts , outings etc.


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Our Conclusion


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Findings & Suggestions

1) Money is not everything.

The perspective is changing althoughpeople still give priority to money. Now

employees look for challenging job as it

allows them to learn new technologyand increase domain expertise.


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2) Vision and objectives

Next level of communication, a crucialpart of retention, starts with acquainting

employees with the companys vision

and objectives.


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3) Treat employees like customers.

Companies should have a similar approach toemployees and customers.


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4) Firing

Firing is not attrition.


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5) Consider feedback.

Taking feedback from employees throughdifferent means and work with the HR

department to iron out differences is very

important.

It can be done in two ways

(i) During employees tenure, and

(ii) Through exit interviews.


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6) Subsidize Education and Certification

In US, many companies reimburse employees foradvanced degrees or certifications that relate to

their area of expertise. In several offshore

countries, advanced degrees are considered

crucial to social standing. It's important for U.S.firms with little international experience to

recognize this desire among employees and

design programs accordingly.



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7) Change locations.

The high prices and resource crunch in top-tierIndian cities such as Bangalore and Mumbai have

led many companies to execute alternative

location strategies.

Another option to combat the rising attrition

rates in India is to locate in other countries.


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8) Rotate employees

Employees who don't feel challenged by their

work often leave. In response, companies such as

TCS have programs that rotate employees into

different disciplines about every two years and

expose them to new locations, projects, and

technologies.


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9) Combat Poaching by Encouraging Referrals.

Poaching is a bad idea, as it drives up salariesand discourages employee loyalty.

An employee referral program can serve as

an alternative and effective recruiting

strategy. Satisfied employees can be a

company's best sales tool and add a personal

touch that a print or radio campaign lacks.


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10) Just Ask: Are Your Employees Satisfied?

Retention is inextricably linked to employee

satisfaction, so it pays to periodically survey

employees hopefully before their exit

interviewsabout job satisfaction issues, and act

on the data gathered. The aim is to determine whysome employees depart and some remain with the

company, and to define the traits of productive,

successful employees.


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11) Spend More Time Recruiting.

It's difficult to retain good employees if thecompany doesn't have a process to hire the right

people in the first place. Simple measures, such as

incorporating skills tests that relate directly to the

job in question, can help companies to determinewhether the applicant is indeed an expert

programmer or merely an intermediate

programmer.


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12) Cost of turnover

Key areas used in calculation of turnover are:Administration and sourcing costs

New Hire costs

Lost productivity

Dysfunctional and avoidable turnover


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13) Administration & Sourcing costs

Process Administration:

- Resignation administration

- Recruitment administration

Sourcing Costs:

- Agency expenses

- Advertising costs

Interview Costs:- Interview

- Testing

- Travel


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14) Cost of new hire

Induction Administration-Induction Fixed Costs

-Induction Training

-Relocation Expenses


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15) Productivity Losses

The most detrimental aspect of staff turnover is lostproductivity. Evidence has found that leavers often

miss work or are tardy before they depart.


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16) Excluded costs

Not all the costs associated with turnover havebeen included in the i4 attrition calculator. Costs

that cannot be accurately measured or assumed

have been excluded.


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17) Employee demoralization

Turnover may erode the moraleand stability of those who remain employed.


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18) Impaired Quality of Service

Turnover also hinders the delivery of service andretention of customers. Attrition among service

personnel impairs customer service because

understaffed branches delay or withhold service.


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19) Turnover reason & cost impact

Just as attrition can lower productivity, incurfinancial costs, and undermine stayers' morale,

turnover can have the opposite ramifications under

certain circumstances or for certain firms.


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20) Functional and Dysfunctional Turnover

Departing from conventional beliefs, someacademics point out that turnover can prevent

stagnation and complacency, facilitate change and

innovation, and displace poor performers. Turnover

is not inherently negative.


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21) Avoidable and unavoidable

Further differentiation should occur between

organizationally avoidable turnover and

organizationally unavoidable turnover.


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Questions are guaranteed in life answers arent !!! ;-)


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Most Awaited Slide ;-)

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