A Psychological Cognition in Consulting firms hinge on with the Employee Turnover[/b]
[/b]
Dr. N Panchanatham1, [/b]
Registrar of Annamalai University, Chidambaram[/b]
Dr. K.Hari2, [/b]
Asst. Professor and Head[/b]
S.S Govt Arts College, Tiruttani[/b]
&[/b]
R Neeraja3 M.Sc., MBA, PGDIB, Research Scholar in Karpagam University, Coimbatore[/b]
Abstract[/b]
Employee Turnover is the perennial challenge for HR /Recruiters in all types of industries. HR department is one of the Key department in any organization and the HR play the vital role in building the organization. A company is registered with one employee, but it grows to a lively organization only when there is group of employees. The pride of sprouting the employees goes to the HR team. HR team itself is an organization who generates revenue for the company, which is the famous fast emerging firm called as Manpower consulting firms. One cannot imagine the limit of challenges faced by such industry in employee turnover. This experiment is in line with the analysation of psychological factor of employees working in consulting firms. This study is focused in the personal factors as that is the basic factor for a human to decide, and study is focused to only one attribute to make the study crisp and energetic. The study is conducted with 150 employees working in various manpower consulting firms across Chennai.
Key Words[/b]-Employee turnover, consulting firms, psychological factors, manpower, etc.
Introduction[/b]
Consulting firms are small to mid-size organizations to mass organization whose main business is consulting solutions doing manpower requirement. There are firms which support the newly establishing organization, new to the market by supplying manpower, based on the skillset requirements on contractual basis or permanent. In other sense, the flow of employees is huge and more frequent comparatively. The retention and attrition rates are high. The reasons are many like demographic factors, economical factors, organizational factors etc. The demographic factors falls in the first level for any employee to take decision on their current job. Manpower consulting firms are managed by highly qualifies professional Manpower specialist consultants having several years of training and experience in both India and Abroad.
Attrition in HRM says that a situation faced by an employer when new employees joined and leaves the organization to join other organization when he gets offers. Attrition rate is high when there is mass openings in the market and if there mass retirements or expansion of any organization. In broad term, attrition is a situation which employer face when employee left the organization due to job dissatisfaction, new opportunity in the market, retirement & natural cause (death/illness). Once upon a time, companies were not bothered much about attrition, but with growing trends in skill set and related requirements, one does not afford to lose employees. There comes the challenge of retention.
Definition of Attrition in HR perceptive is “The meaning of attrition in a work environment refers to a reduction or decrease in the size or strength the work force, or a gradual reduction in labor occurring through means other than firing employees. Both of these explanations can be applied to activities addressed by human resources, and both can have positive and negative ramifications for a company. Human resources teams factor attrition rates into their department budgets to account for potential losses in productivity and the costs associated with replacing departing employees”.
There are many chronic reasons for employee absenteeism; following are the stereotyped factors;
Inadequate salary and benefits to employees by their employer
Imparity of job role
Job pressure and work life imbalances
Long shifts and odd working hours
Improper ambience
Routine job/Less challenging job
Lack of motivation
Bad KRA & KPAs