A study on attrition in non Listed it companies in chennai

Abstract

newline In today s competitive environment, attrition in a business can affect both the operation of the business as well as the morale of employees. To some extent employee attrition may be allowable, but beyond a certain limit, it involves more expense in replacing the employees who left the organization, which includes selection and recruitment costs and training and development costs. It is a great loss for the organization which losses its key performers and it is difficult to replace such key employees. Hence, the need to study the prevailing attrition and its influencing factors in the Non-Listed IT industry regarding Chennai city. The general definition of non-listed companies used in the discussions is: closely held companies whose shares, unlike those of publicly held companies, do not trade freely in impersonal markets, either because the shares are held by a small number of persons or because The Company is subject to restrictions that limit their transferability (Hansmann/Kraakman, 2004). Non-listed companies are broadly classified, such as family-owned, companies, state-owned companies, group-owned companies, private investor-owned companies, joint ventures, and mass-privatized companies. Non-listed firms will have a small number of shareholders, no major shareholder participants, and no free market. A large number of scholars have already put their efforts into finding the reasons for Attrition in BPOs, ITES, Students, major IT market players like TCS, Infosys, Wipro, HCL, etc. Studying Attrition in non-listed companies is quite interesting and passionate which prompted me to kick off the research. The research was done on a systematic random sampling selection of 25 companies in Chennai. 350 companies are listed in Chennai. Annexure-I is the list of IT companies as per the NASSCOM listing in Chennai. Registered of Companies in Chennai says 1150 companies. Other Government Authorized (ELCOT) data reveals thousands of companies.