Project on Attrition management

The first step for individual companies is to develop detailed profiles of the kind of people they are after by analyzing the job profiles, career paths, background and experience of their current high performers. Once we know what we are looking for, there are a number of routes we can take. Some get what they need largely through acquisitions, which is fine if acquisitions are an intrinsic part of corporate strategy. Some "outsource" by picking up people they believe are better trained elsewhere. Those who can attract the best college graduates and excel at early development, "insource", instead.

Secondly, aggressive development strategies complement the retention strategies in a big way. Providing opportunities to the employee for both professional and career growth and giving the due priority to this important activity makes the company's position in the market for talent attractive and compelling. Well –articulated strategies in the context of sourcing and development augument the retention strategies in crafting a powerful employee value proposition that remains central to the problem of attraction and retention of top talent.

Thirdly, the ability to define, develop and deliver a winning employee value proposition should be at the core of all retention strategies particularly for large companies facing challenges from a multitude of smaller companies as employers. The lure of the latter in terms of excitement, flexibility, impact (a big fish in a small pond) reward and even equity ownership has to be countered with a stronger proposition bolstered by the former's magnitude of impact (big fish in a big pool), depth (vast resources to take risks and to support big decisions) and variety (large spectrum of expertise and experience to be shared).

All retention strategies must be built around a compelling, distinctive and exiting employee value propostion. Further, these strategies must cover three distinct yet overlapping domains; cultural, transformational and transactional. So, let us dwell upon the cultural aspects as relevant to the issues under construction.

a. Culture is somewhat like "the operating system" of the organization. It drives the organization and its actions. It guides how employees think, act and feel. It is dynamic and fluid, and it is never static. Some aspects of culture are visible and tangible and others are intangible and unconscious. Some of the most visible expressions include the architecture and décor, the clothing people wear, the organizational processes and structures, and the rituals, symbols and celebrations.

Essentially organizational culture is seen in two broad dimensions. The hard dimensions relate to the functional, technical and control aspects, while the soft aspects deal with inspiration, emotion, energy, enthusiasm, collaboration and camaraderie, openness, sense of belonging, etc. A culture that is open, trusting, nurturing, authentic as well as empowering tends to attract and retain top talent.

b. Transformational strategies that impact retention in good measure encompass mentoring, coaching, counselling, competency and performance development programs, retraining, re-skilling, re-deployment and job rotation, challenging assignments, job enrichment and above all promotion of a knowledge building and knowledge sharing culture.

c. Transactional innovative, dynamic and competitive compensation strategies, various welfare initiatives, social and community activities, workload balancing, effective work-life integration, reward and recognition, establishment of good communication and feedback network, etc, form the transactional strategies. Anti poaching measures may also find their place in this category. Although technology based defences against an aggressive e-recruiter like various e-security mechanism work for sometime, the real potent measures are inherent in enhanced job satisfaction and strengthened relationships within the organization.

In order to be able to orchestrate and implement effective retention strategies, the first step should be to understand the scope of the retention problem that is unique to one's organization. The target group, which is crucial to the company's operations and success, should be identified and the strategies are directed appropriately. It is a paradox that the companies which invest heavily in recruitment and development and make a good job at that, are prone to more risk of poaching. A sound sensing and tracking system to assess the volume and causes of attrition by performance level could be useful. The ability to identify good performers, who are prone to leave for any job or management related issues and timely intervention to address these issues could be effective.
 
Thank you
In order to analyze impact of current HR policies on retention, there is a requirement to maybe do a survey/questionnaire. The result of this survey should help org. introducing new policies/finetuning existing policies.

Generally what type survey and should it include all employees or only managers ? Can anybody share survey/questionnaire ?
 
Hi, I'm doing a project on attrition in retail industry. Could anyone help me to find the benchmarks in the industry?
 
hi guys, can anybody help me on my Project which i am suppose to present on
Management as an Art of managing resources efficiently..
 
hi !

m shweta. i m doin a project on attrition management in hr. can u send me the questionnaire related to the topic as soon as possible.
dish tv company.......
 
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