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The Times of India Monday December 31, 2007
Bumper year for city in IT hiring |
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The Hindu Business Line Monday December 24, 2007
De-risking the staffing business |
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The Economic Times Thursday December 12, 2007
Career detours:Pursue dreams amid sabbatical breaks |
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The Economic Times Thursday November 29, 2007
Rupee blow : IT cos to go slow on hiring support staff |
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The Hindu Business Line Monday November 26, 2007
Building high performance teams |
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The Economic Times Tuesday November 13, 2007
IT giants fine-tune bench management |
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The Hindu Friday November 2, 2007
IT companies tighten purse strings to cut costs |
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Times of India, Sept 17, 2007
Indian tech campuses turn melting pots of diversities |
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Times of India, August 23, 2007
IT companies create shadow talent pool |
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Economic Times, August 22, 2007
IT companies show the door to deadwoods |
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Times of India, June 26, 2007
Bubble CEOs’ fill vacuum on top |
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DNA, June 15, 2007
Men are top job ditchers, women loyal, says study |
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Economic Times, May 28, 2007
Recruitment Sector gets into M&A mode |
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Times of India, May 03, 2007
Women slam move to ban night shift |
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Business Line, March 06, 2007
Venture Capital firms' move to recruit, retain talent |
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Business Line, March 01, 2007
Union Budget 2007-08 for Women |
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Times of India, Feb 22, 2007
Talent also has a shelf-life |
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Men are top job ditchers, women loyal, says study |
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DNA |
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June 15, 2007 |
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Priti Bajaj |
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| India Inc's attrition levels go up to 20% |
Here today, gone tomorrow. This is the downside of the booming India story, where companies are facing attrition levels exceeding 20 per cent, especially in the services sector.
A survey carried out by the Delhi-based Associated Chambers of Commerce and Industry (Assocham), which polled 160 leading human resources (HR) heads in India Inc, found that the attrition rate is highest among employees in the 26-30 age group. Employees with experience levels of two to four years are the most vulnerable to poaching by rivals. But women employees are five times more stable than men.
If HR heads expect sympathy for their predicament, it may be as hard to find as a stable employee. "Companies are to blame for attrition," said Hastha Krishnan, CEO, Ma Foi Global Search Services, an HR consulting firm. "Earlier they had ethical boundaries, but now that they have fuelled the war for talent, it has become a free-for-all situation."
According to Nirupama VG, Managing Director, Ad Astra Consultants, attrition is the outcome of the huge gap between demand and supply. "The overall job market is taking a huge leap. Corporations are hiring people based more on business demands rather than skills," Nirupama said.
With two million jobs opening up in the retail sector, and another half a million in the business and knowledge process outsourcing (BPO and KPO) sectors over the next three years, it is no surprise that employees are busy shopping around for the next job offer.
If employers are looking for more stable hires, they will have to look at increasing their intake of women employees. The survey discovered that for every 10 males jumping ship for better prospects, there were only two women crossing over.
More than half the HR managers surveyed said women with families made for stable employees even though they had to juggle two roles. "Women look for stability and build on something for sustained growth." Krishnan said. "Similarly, in the corporate world, they do not like being a rolling stone."
With India joining the globalization bandwagon, the movement of workforces across national boundaries has added to the rising level of employee turnover, according to 72 per cent of the survey respondents.
So why do people job-hop so frequently? Immediate gains in salary packages were found to be responsible for job switches in 61 per cent of the cases. Growth potential was cited as another major reason, said Assocham President Venugopal N Dhoot. Another significant finding is that growth companies face higher attrition rates compared to established companies, with 65 per cent of senior HR executives agreeing with that notion. HR experts say annual attrition levels up to 10-12 per cent are healthy for a company.
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