The Attrition Dilemma In Roots Of HR
Human resources are the most valuable and unique assets of an organization. With the phenomenal growth of service sector and knowledge economy in India, the human resource has assumed critical importance in the business organizations. There are several challenges and newer issues that have also come up before the industry. The scarcity of talented resources and the growing expectations of the modern day worker have further increased the complexity of the human resource function. HR managers in the industry on one hand and the future managers at the management institutions on the other hand can hardly be over-emphasized. The HR Industry of India has immense potential and deserves extensive and exclusive media coverage. However, no exclusive and aptly researched complete resource is available for the HR professionals. To bridge this gap between knowledge and application, our effort is to bring a consolidated product in the form of a monthly magazine to serve the HR professionals. HR Today is a comprehensive magazine, emphasizing on the strategic role that human resource management plays in a modern day organization. This inimitable endeavor is a platform and forum where creative and innovative ideas, contemporary & tacit knowledge are acknowledged and disseminated. It aims to integrate academia and industry to create intellectual capital and simultaneously assimilating contemporary articles and unconventional theories into a common expression. The magazine aims to serve as a reservoir of knowledge for human resource personnel in keeping them abreast with new policies, practices, trends and other latest developments in this field.
A Nasscom Hewitt-Associates Survey shows that the cost of attrition is 1.5 times the annual salary of an employee. Costs are due to loss of productivity, temporary replacement, loss of knowledge and new recruitment and training.[/i][/b][/i][/b]
The attrition rate is linked to a number of causes, one being the average age of the employee. 87 percent Of the BPO employees are under the age of 30. Their research shows that the job is stressful as employees are moved from one process to another with little time to adjust. The work environment has rigid rules and strict monitoring and employees become affected by sleep disturbances due to working irregular hours.
In every arena organizations are getting more and more technologically oriented. Though it is not in the main run after the initial debates, preparing the work force to accept technological changes is a major challenge. We have seen sectors like banking undergoing revolutionary changes enabled by technology. It is a huge challenge to bring in IT and other technology acceptance all levels in organizations. Research has clearly shown that the success of these interventions is heavily dependent on managing the people issues in the process. In order to succeed, HR must be a business driven function with a thorough understanding of the organization’s big picture and be able to influence key decisions and policies. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity.
Case[/b] Study[/b]
First Advantage is Asia-Pacific's leading background screening, end-to-end risk mitigation and talent acquisition solutions provider. Headquartered in Florida, and providing screening services globally, First Advantage pioneered Asia Pacific's background screening industry and has led the industry in setting background screening benchmarks as it expands operations throughout the region.
First Advantage, a global risk mitigation and business solutions provider, today announced the release of its Background Screening Trends - India Report spanning the time period from July through September 2010. We believe that these additional data cross-sections are providing employers with greater benchmarking tools as they refine their screening processes.
The Background Screening Trends-India Report is based on background checks conducted by First Advantage between July and September 2010. Discrepancy rates are determined by the differences discovered between job-applicant-provided data and data uncovered by First Advantage while conducting background checks.
Significant observations for third quarter 2010 include: [/b][/b]
A discrepancy rate in India of 10.8 percent
Employment related discrepancies account for 80 percent of all discrepancies.
An education-related discrepancy rate of 4 percent
The remainder of the discrepancies (16 percent) concern information related to address, criminal checks, etc.
Results by job level include: [/b][/b]
70 percent of all discrepancies observed in Q3-2010 involve associate level employees.[/b]
For the middle management level, the discrepancy rate of 18 percent is the highest in Q3-2010 compared to the previous two quarters.
The discrepancy rate for first-level supervisors has shown a consistent decrease over three consecutive quarters with Q3-2010 exhibiting the lowest discrepancy rate (8 percent) for this hierarchy level in the last four quarters.
First Advantage combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services. First Advantage is headquartered in St. Petersburg, Fl., and has offices throughout the United States and abroad. More information about First Advantage can be found athttp://www.FADV.com
Human resources are the most valuable and unique assets of an organization. With the phenomenal growth of service sector and knowledge economy in India, the human resource has assumed critical importance in the business organizations. There are several challenges and newer issues that have also come up before the industry. The scarcity of talented resources and the growing expectations of the modern day worker have further increased the complexity of the human resource function. HR managers in the industry on one hand and the future managers at the management institutions on the other hand can hardly be over-emphasized. The HR Industry of India has immense potential and deserves extensive and exclusive media coverage. However, no exclusive and aptly researched complete resource is available for the HR professionals. To bridge this gap between knowledge and application, our effort is to bring a consolidated product in the form of a monthly magazine to serve the HR professionals. HR Today is a comprehensive magazine, emphasizing on the strategic role that human resource management plays in a modern day organization. This inimitable endeavor is a platform and forum where creative and innovative ideas, contemporary & tacit knowledge are acknowledged and disseminated. It aims to integrate academia and industry to create intellectual capital and simultaneously assimilating contemporary articles and unconventional theories into a common expression. The magazine aims to serve as a reservoir of knowledge for human resource personnel in keeping them abreast with new policies, practices, trends and other latest developments in this field.
A Nasscom Hewitt-Associates Survey shows that the cost of attrition is 1.5 times the annual salary of an employee. Costs are due to loss of productivity, temporary replacement, loss of knowledge and new recruitment and training.[/i][/b][/i][/b]
The attrition rate is linked to a number of causes, one being the average age of the employee. 87 percent Of the BPO employees are under the age of 30. Their research shows that the job is stressful as employees are moved from one process to another with little time to adjust. The work environment has rigid rules and strict monitoring and employees become affected by sleep disturbances due to working irregular hours.
In every arena organizations are getting more and more technologically oriented. Though it is not in the main run after the initial debates, preparing the work force to accept technological changes is a major challenge. We have seen sectors like banking undergoing revolutionary changes enabled by technology. It is a huge challenge to bring in IT and other technology acceptance all levels in organizations. Research has clearly shown that the success of these interventions is heavily dependent on managing the people issues in the process. In order to succeed, HR must be a business driven function with a thorough understanding of the organization’s big picture and be able to influence key decisions and policies. The HR manager will also promote and fight for values, ethics, beliefs, and spirituality within their organizations, especially in the management of workplace diversity.
Case[/b] Study[/b]
First Advantage is Asia-Pacific's leading background screening, end-to-end risk mitigation and talent acquisition solutions provider. Headquartered in Florida, and providing screening services globally, First Advantage pioneered Asia Pacific's background screening industry and has led the industry in setting background screening benchmarks as it expands operations throughout the region.
First Advantage, a global risk mitigation and business solutions provider, today announced the release of its Background Screening Trends - India Report spanning the time period from July through September 2010. We believe that these additional data cross-sections are providing employers with greater benchmarking tools as they refine their screening processes.
The Background Screening Trends-India Report is based on background checks conducted by First Advantage between July and September 2010. Discrepancy rates are determined by the differences discovered between job-applicant-provided data and data uncovered by First Advantage while conducting background checks.
Significant observations for third quarter 2010 include: [/b][/b]
A discrepancy rate in India of 10.8 percent
Employment related discrepancies account for 80 percent of all discrepancies.
An education-related discrepancy rate of 4 percent
The remainder of the discrepancies (16 percent) concern information related to address, criminal checks, etc.
Results by job level include: [/b][/b]
70 percent of all discrepancies observed in Q3-2010 involve associate level employees.[/b]
For the middle management level, the discrepancy rate of 18 percent is the highest in Q3-2010 compared to the previous two quarters.
The discrepancy rate for first-level supervisors has shown a consistent decrease over three consecutive quarters with Q3-2010 exhibiting the lowest discrepancy rate (8 percent) for this hierarchy level in the last four quarters.
First Advantage combines industry expertise with information to create products and services that organizations worldwide use to make smarter business decisions. First Advantage is a leading provider of talent acquisition solutions including employment background screening, occupational health services, applicant tracking systems, recruiting solutions, skills and behavioral assessments, and business tax consulting services. First Advantage is headquartered in St. Petersburg, Fl., and has offices throughout the United States and abroad. More information about First Advantage can be found athttp://www.FADV.com