Strategies to Reduce Attrition Rates: Insights from HR Professionals and Industry Practices

Hi,

I am doing a project on recruitment and wanted to know what are some measures by which we could reduce the attrition rates in the IT industry. I could catch hold of some measures such as:

(1) Having a well-designed and dynamic Compensation and Benefits system that is highly competitive.
(2) Providing opportunities for further growth in the organization via career planning/succession planning.
(3) Developing a highly conducive and proactive work culture in the organization where openness, creativity, and commitment are valued.

Could someone help me with getting some more measures that could be used to help reduce the attrition rate?

Hoping to hear from you at the earliest.

Read the "10 Steps to Increase Employee Retention and Productivity" at http://tinyurl.com/9t6jh.

Most hiring managers don't know what the authors of "First, break all the rules..." mean when they say hire for talent.

Here is an example from the software industry that shows how hiring for talent can change the way HR hires employees.

Sonja, the HR manager of a software development company, hired for talent for over two years and then stopped for two years because the two owners said they could do a better job of selecting successful Technical Support Analysts (TSAs) than Sonja. TSAs go to the customers' workplace, identify the programming errors, and then reprogram the software. The two owners felt too restricted by the talent selection process provided to Sonja.

After two years of doing it themselves, they went to Sonja's office and told her, "Start using your talent identification process again since you are much more successful at hiring good TSAs than we are." The owners could not duplicate her success. Sonja took a risk when she first tried the talent identification process.

Hi,

Attrition is one of the challenges faced by HR professionals all over the globe, especially in the IT/ITES and BPO industries. They are now turning to 'Precaution is better than cure' techniques. Numerous benefits are now offered to make employees feel that they belong to the organization and that it is the best place for them to work.

For more details, visit: http://www.rediff.com/money/2004/mar/22bpo.htm

These are practical techniques that have been tested and proven. Let me know if this information was helpful to you.

Regards,
Soumya Shankar

Reducing attrition is easy. All you need to do is:

1) Recruit the right people in the first place (as Bob points out above).
2) Get them on board safely.
3) Understand what your employees value.
4) Provide it.

Of course, you also need to know why your employees leave and why they stay. Throwing additional benefits at employees without knowing what they really value is just throwing money down the drain.

For more information, visit www.colbrown.co.uk.