Subject category:
Human Resource Management / Organisational Behaviour
Published by:
IBS Research Center
Length: 23 pages
Data source: Published sources
Topics:
Employee attrition; Information technology (IT), business process outsourcing (BPO) sector; MNC (multinational corporation); Employers' concern; Employees' perspective; Initiatives of retention; Reasons for attrition; Monetary loss due to attrition; Cost of turnover; Employees' psychology; Sagar Chakraverty; HR (human resources) challenge
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Abstract
There was a heavy exodus of employees from one organisation to another especially in the information technology (IT) - business process outsourcing (BPO) sectors in India and the biggest challenge for the HR managers was to retain employees. The battle for head hunting had become fierce and the organisations adopted all possible means to recruit the available talent pool. The rampant practice of poaching and bulk recruitment with lucrative offers, were important catalysts to accelerate the high attrition rates. The mushrooming placement consultancies and job websites had played a big role as catalysts too. Formulation of an amicable retention strategy was a good option but, there was no clear cut formula to devise the strategy. A particular strategy could work for a few organisations and could fail for others. Therefore, was the employee supposed to shoulder the entire blame for attrition? In the years to come, it will be really interesting to see how the answer to this question will evolve.
Location:
Other setting(s):
2005
About
Abstract
There was a heavy exodus of employees from one organisation to another especially in the information technology (IT) - business process outsourcing (BPO) sectors in India and the biggest challenge for the HR managers was to retain employees. The battle for head hunting had become fierce and the organisations adopted all possible means to recruit the available talent pool. The rampant practice of poaching and bulk recruitment with lucrative offers, were important catalysts to accelerate the high attrition rates. The mushrooming placement consultancies and job websites had played a big role as catalysts too. Formulation of an amicable retention strategy was a good option but, there was no clear cut formula to devise the strategy. A particular strategy could work for a few organisations and could fail for others. Therefore, was the employee supposed to shoulder the entire blame for attrition? In the years to come, it will be really interesting to see how the answer to this question will evolve.
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Location:
Other setting(s):
2005