Professional Documents
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Financial Growth
Career Growth
Professional Growth
Personal Growth
How Growth Opportunities Improve Employee Engagement
and Retention
Cognizant - which hit a record attrition rate of 31% in the June quarter, started investing in the
career growth and development of people more than ever. It has introduced the Job Moves & Promotions
Program enabling associates to target higher level roles as well as launched the Cognizant Higher
Education Program in India to help people pursue advanced degrees while remaining on the job. The firm
is also shifting to a quarterly promotion cycle.
Tata Steel - recently implemented an AI-based Internal Talent Marketplace named “Step Up” to
enable employees to engage in cross functional assignments of their interest to give career growth
opportunities.
• Mercedes-Benz India - has, among various other initiatives, offered job rotation and
international assignments as development and retention measures. It has also rolled out a
flexible hybrid working model which allows, based on job profile, approximately 50% work
from home.
Persistent Systems - are arranging HR connect with top talent to ascertain and address
any attrition risk, and a hybrid approach to working in keeping with new employee
expectations.
RPG Group - is giving higher salary increases to tech talent or those with in-demand skills
who are at a greater attrition risk.
Conclusion
That means that if there is high retention, it’s probably because
company encourage career development opportunities — and if
the turnover is high, it’s probably because company are not
encouraging enough of them.
Employees — especially high performers — will remain in jobs that
challenge them, utilize their expertise, and provide meaning.
As an employer, it is critical to provide employees with opportunity for
growth while also monitoring employee engagement and retention.