Employee Attrition Management In Indian Corporate Houses An Empirical Case Study

Abstract

newline Industry working is based upon how its human resource is contribution in its newlinegrowth. In every organization human resource plays an important role in its daily newlineoperation and working. They are key stakeholders of every company, and that s newlinewhy their presence matters a lot for every organization. As organisations are newlinefacing numerous employee centric issues, one of the critical challenge they are newlineexperiencing is employee/ labour turnover and this deserves special attention newlineparticularly with the ever increasing demand for technically competent newlineprofessionals since the last decade of the 21st Century. The employers are very newlineconcerned about its consequences in terms of higher attrition rates and the impact newlineon employee productivity as well as the imperative to continuously replenish newlinetalent at various levels and functions and the associated costs involved. When a newlineperson is inducted into the organisation, it is expected that the employee would newlinecontribute effectively and continue to be employed with the organization all newlinethrough his career. Similarly, the organization which engages the employee is newlineexpected to meaningful assignments during his career span, help him to sharpen newlinehis abilities and competencies, assess him fairly and provide commensurate newlinerewards periodically meeting the employee s expectations. The employment of a newlineperson in an organization leads to an explicit contract that there is an obligation newlineon the part of both the employee and the employer to maintain the employment newlinerelations for a specified period during which meeting and fulfilling mutual newlineobligations as well as maintaining mutual dependence or interdependence which newlinebenefit both. It means mutuality and reciprocity of relations in which both are newlineinterested for defining and redefining the framework of their relations. newlineHowever, under current economic conditions, it is increasingly becoming difficult newlineto provide assurance of long term stability both by neither the employee nor the newlineemployer. The employment relations are many a time adversely impacted for one newlineor the other reason originating from either of them. The employee may decide to newlineterminate the contract with the employer and severe her/his employment relations newlinefor personal reasons such as health, disinterest in assignments offered, family newlinereasons, job and role related reasons, lack of opportunities for career progression newlinevii newlinein the company, denial of equal opportunities by the management, below market newlineremuneration, inadequate workplace facilities, and poor work life balance etc. newlineLarge mega corporations are prone to be impacted by attrition, as overall newlinebusiness growth and development are associated with the availability of newlinecompetent and talented managerial and technical personnel. This context and newlinesituation is well known to the organizations as well as the technically trained newlinemanagers and other employees employed with them and they all try to further newlinetheir interests in the best possible manner. For organizations the extensive cost newlineincurred towards recruiting, training and building expertise in the employees is newlinequite substantial and the rate of company s growth and is seriously disturbed newlinewith the departure of such talented human resources. Attrition seriously impacts newlinesuch industrial organizations seriously, as the new employees entrusted with the newlinetask are not fully equipped to handle the jobs with same efficiency and capability. newlineThis research study has attempted to study the trends of attrition through newlineliterature survey spanning over more than two decades and ploughed back those newlineleanings in designing the questionnaire as well as contextualizing the study to a newlinelarge mega manufacturing organization. newlineThe present study offers meaningful insights for different types of factors that newlineimpact the decision of an employee to leave the organization. Their inter-linkages newlinehave also been analyzed to aid the conclusions. Overall organizations need to newlinedeep dive into the underlying causes of attrition, and introduce sustainable HR newlinepolicies to mitigate the causes. This research has practical significance because newlineof findings of the research, understand the factors that trigger attrition and these newlinefindings and suggestions of this research can help to design and improve their newlinealternative ways to minimize the risks associated with attrition in organizations.