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  • Attrition: Corporate Nightmare or Competitive Edge

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    This document discusses attrition in corporate organizations. It begins by defining attrition as a decrease in employees due to retirement, resignation, or death. It then notes that attrition can be both a competitive edge and a nightmare for companies. While attrition results in losses from recruitment and training costs, it can also remove poor performers and bring in new ideas. The document then examines some common reasons for employee attrition, such as lack of compensation, growth opportunities, or support. It provides examples of attrition in different industries and recommends practices to reduce attrition, like work-life balance, communication, and fair treatment. Finally, it highlights specific practices of companies like P&G, NTPC, and Wipro to minimize

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    30th august- lata

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    This document discusses attrition in corporate organizations. It begins by defining attrition as a decrease in employees due to retirement, resignation, or death. It then notes that attrition can be both a competitive edge and a nightmare for companies. While attrition results in losses from recruitment and training costs, it can also remove poor performers and bring in new ideas. The document then examines some common reasons for employee attrition, such as lack of compensation, growth opportunities, or support. It provides examples of attrition in different industries and recommends practices to reduce attrition, like work-life balance, communication, and fair treatment. Finally, it highlights specific practices of companies like P&G, NTPC, and Wipro to minimize

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    16 views23 pages

    Attrition: Corporate Nightmare or Competitive Edge

    Uploaded by

    latasingh
    This document discusses attrition in corporate organizations. It begins by defining attrition as a decrease in employees due to retirement, resignation, or death. It then notes that attrition can be both a competitive edge and a nightmare for companies. While attrition results in losses from recruitment and training costs, it can also remove poor performers and bring in new ideas. The document then examines some common reasons for employee attrition, such as lack of compensation, growth opportunities, or support. It provides examples of attrition in different industries and recommends practices to reduce attrition, like work-life balance, communication, and fair treatment. Finally, it highlights specific practices of companies like P&G, NTPC, and Wipro to minimize

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as PPT, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 23

    Attrition: Corporate

    Nightmare or Competitive
    Edge

    Lata Singh
    Latest practice by the
    Corporate
    Good place to work
    means?

    Real World of the


    workplace?
    What is Attrition?
    A decrease in the number of
    employees through retirement,
    resignation or death.

    Attrition =(No. of employees who left


    in the year / average employees in the
    year) x 100
    Attrition: Competitive edge
     Most critical resource of a company-
    Human Beings
     People do not leave jobs, they leave
    bosses.
     Mostly they remain in the same industry,
     Why so???????????
     Answer- fulfillment of their needs in the
    competitive environment
    Competitive environment

    Changes in Socio-cultural environment


    Technological Advancement

    Global factors
    Losses due to Attrition

     Recruitment cost
     Training & development cost
     Low Productivity cost
     Administration cost
    Positives of Attrition
    Excessive Manpower Cost
    Separation from poor

    performers
    Chances of new thoughts

    Rewarding the share of poor

    performers.
    Aspects of Attrition
    Pull attrition
    - Attractive opportunity
    Push attrition

    - workplace issues
    - cultural issues
    - Ambiance
    - environment
    Why people leave- Push Factors
    Lack of Compensation
    Lack of Growth Opportunities
    Lack of Support
    Poor Relationship
    Poor Environment
    Attrition in FMCG
    Attrition in ITES Companies
    Some other Reasons behind?
    Better Remuneration
    Mismatch of Expectations

    Growth Opportunities

    Higher Studies

    Working Hours _ Long/ Odd

    Family Commitments
    How to deal with it?
     Nothing Special- Routine Process &
    should be Controllable
     Feedback from Exit Interviews – focus

    why &when employees started thinking


    about a change
     Feedback from employee Satisfaction

    Surveys
     implementation of Work Life Balance

     Routine Communication

    Transparent work culture – Fair

    Treatment
    Some other Practices
    1. Procter and Gamble India
     Early responsibilities in career
     Flexible and transparent
     organizational culture
     Global opportunities through a
    variety of exposure and diverse
    experiences
     Performance Recognition
    2. NTPC
    Learning and growth opportunities
    Competitive rewards

    Opportunity to grow, learn and

    implement
    Strong social security and employee

    welfare performance- oriented culture


    3. Tata Steel
    Organization culture
    Job stability

    Freedom to work and

    innovate
    4. Indian Oil Corporation
    Company brand image
    Work ethics

    Learning and growth opportunities

    Challenging work assignments

    Growing organization
    5. TCS
    The group brand equity
    Strong corporate governance and

    citizenship
    Commitment to learning and

    development
    Best in people practices

    Challenging assignments

    Opportunity to work with fortune 500

    clients
    6. WIPRO
     Company’s brand as an employer
     Early opportunities for growth
     High degree of autonomy
     Value compatibility
     Innovative people program
    7. Glaxo Smith Kline Consumer
    Healthcare
    Performance-driven Rewards
    Its belief in “Growing our own timber”

    Comprehensive development and learning

    programs
    Flat organization, where performance could

    lead to very quick progression


    Challenging work context

    Competitive rewards

    Exhaustive induction and orientation

    program
    Thank you.
    .

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