Reducing Attrition Rate: A Challenge for the Employers
High attrition rate is a critical issue for the employers anywhere in the world. In the era of evolving job market it is not possible to expect long lasting business loyalty from the employees. Reducing attrition rate is certainly a challenge and a systematic approach is needed to curb the rising graph of attrition. It has often been noticed that even after having a qualified Human Resources team, a number of organizations fail to control the rising rate of attrition. High attrition may also have adverse impact on the performance of the existing employees. If you are an employer and trying to control attrition, it is of utmost importance first to recognize the reasons why attrition is on an increase in your organization and then to formulate a strategy to mitigate it. Now what could be the possible reasons for employees leaving? Well, most of the time it is a case of hiring defect. It is quite possible that you would end up hiring people who jump from opportunity to opportunity in search of better packages. Another evident case is employees leave when they don’t immediately succeed. After ascertaining the causes comes the task to adopt the required policies and execute measures to retain the human resources. Let us discuss some possible retention strategies that an employer might resort to in order to face the challenge.
Coordination between the Recruitment Team and the People Management Group
A regular communication between the recruitment team and the management is needed to find out the nature of human resources required for the line of business. Also a regular feedback from the managers and the team leaders would help recruiters to understand the trend of reasons for disappointment among employees. This would enable them to make those points clear to the prospected hires and to help them taking the right decision to join only when they are comfortable with the ground scenarios.
Regular Leadership Gatherings
The more you stay connected with the employees the more likely they would stay around. A loose connect between the employees and their team leaders and a fragile inter team relationship creates an atmosphere of doubt among the employees. As has been stated earlier employees tend to leave when they fail to succeed, a regular gathering of leadership and the team members would help the employee to know what is expected of them. Also the leadership would be in loop of what are the expectations of the team members as well.
A Scientific Strategy Analysis and its Proper Implementation
Those working at the strategic level of the business should take clues from the abovementioned leadership gatherings and try to make the environment of the organization more employees friendly. Change of targets for the business needs should be in a systematic way so that the employees don’t find it too harsh on them. Also when a particular target is not being met by a majority of the employees, the strategists should carry out a comprehensive analysis of the feasibility of that target and act accordingly. Measures taken to improve the work environment should also be communicated to the employees so that they are aware of the goodwill gestures of the employers.
Ready Availability of Offline Training Resources
No matter how much you are connected to your team online, it is necessary to have face to face interactions with the employees and to train them on a regular interval on new and existing business updates. This helps them to be aware of regular trends in the market and work accordingly, which in turn increases their confidence level.
Availability of Trained Professionals for Community Building and Address Employee Grievances
Community building is needed for an organization in order to create a comfort zone for the employees. It has also been observed that employees do mingle their personal life with professional life. A careful attitude has to be taken by the management in this regard. A team of trained professional on behavioral psychology should help the employees to separate their personal issues from their work. While doing this proper care should be taken so that employees don’t feel unwanted in the organization. This would certainly improve their performance level and help them in maintaining a work life balance.
These are some of the strategies which the management may adopt to check the increasing attrition in their organization. The management should keep on analyzing the success of these measures and revise their policies from time to time to yield better results.