Dear Mr. Vijay,
In my earlier postings I have dealt with "Employees don't leave companies, they leave their 'boss' How many of you agree / disagree," and I said I disagree. Now to the next question:
"What can be done to deal with the problem of attrition?"
Here is my submission: FIRST BREAK ALL THE RULES, A Best Seller which sold millions of copies authored by MARCUS BUCKINGHAM & CURT COFFMANWHAT THE WORLD'S GREATEST MANAGERS DO DIFFERENTLY, BASED ON IN-DEPTH INTERVIEWS BY THE GALLUP ORGANIZATION OF OVER 80,000 MANAGERS IN OVER 400 COMPANIES-THE LARGEST STUDY OF ITS KIND EVER UNDERTAKEN.
A mini extract from the book:
"Measuring the strength of a workplace can be simplified to twelve questions.
These twelve questions don't capture everything you may want to know about your work place, but they do capture the most information and the most important information. They measure the core elements needed to at tract, focus, and keep the most talented employees.
Here they are:
1. Do I know what is expected of me at work?
2. Do I have the materials and equipment I need to do my work right?
3. At work, do I have the opportunity to do what I do best every day?
4. In the last seven days, have I received recognition or praise for doing good work?
5. Does my supervisor, or someone at work, seem to care about me as a person?
6. Is there someone at work who encourages my development?
7. At work, do my opinions seem to count?
8. Does the mission/purpose of my company make me feel my job is important?
9. Are my co-workers committed to doing quality work?
10. Do I have a best friend at work?
11. In the last six months, has someone at work talked to me about my progress?
12. This last year, have I had opportunities at work to learn and grow?
These twelve questions are the simplest and most accurate way to measure the strength of a workplace.
Most people knew, for example, that strong relationships and frequent praise were vital ingredients of a healthy work place.
Second, you may be wondering why there are no questions dealing with pay, benefits, senior management, or organizational structure.
There were initially, but they disappeared during the analysis. This doesn't mean they are unimportant. It simply means they are equally important to every employee, good, bad, and mediocre. Yes, if you are paying 20% below the market average, you may have difficulty attracting people. But bringing your pay and benefits package up to market levels, while a sensible first step, will not take you very far. These lands of issues are like tickets to the ballpark — they can get you into the game, but they can't help you win."
Conclusion: For a company to succeed it's always good to look for and hire the most talented people, who can be difficult to manage, but certainly are winning-horses. They will challenge everyone in the organization in every manner as they carve a "career" for themselves. The challenge therefore is to go out finding talented people rather than mediocre people who are only a drag on you as a "boss/manager" and the organization as a whole. Talented people will also make the managements and the leadership think, hard to engage them and to also get the best out of them. Such people will quit anyway once they feel satiated, but they will certainly level a mark and a legacy to carry forward. It can also become a "benchmark" practice for the organization as far as Talent Acquisition and Talent Development is concerned. Successful companies take pride in this aspect.