Analysis of Factors Influencing Attrition in It Sector. Essay
With the economy of India booming at an all time high despite the impact of recession, it is an employee’s market. A large number of multiple jobs are being circulated in organizations and across industries, employees take little time to ponder and leave for greener pastures. In the event the employee feels dissatisfied with his job content, colleagues, boss or a general feeling of discontentment, disillusionment or disappointment creeps in him, considering present market conditions he need not think twice but can easily chucks for good.
But obviously it is not good for the employers. Organizations spend a major buck in inducting an employee, beginning from the recruitment process to his internalization in the organization. After reaping rich benefits in the organization in terms of learning, growth, development and availing every possible opportunity in that time span he feels he should go. The HR department is left in the hanging as how to fill in the gap between the demand and supply in terms of human resources. But it helps organizations understand why at all attrition takes place.
Why at all at the first place did the idea for leaving come in the mind of the employee. And if at all it came, then why the organization was not pro-active enough to have sensed his dissatisfaction. Furthermore why was it not well equipped to have stopped him from leaving? The entire cycle is vicious. Normally no one welcomes change unless it is forced to be applied. Similarly when an employee joins the organization, he really has no intension of leaving. Circumstances and conditions arise which make him think towards cutting ties.
If negative conditions continue to exist then he is confirmed to leave. We all know people do crib about money, not good perks and facilities but if they are happy they stay for the sake of that happiness. People also join organizations for their need for socialization. When they form friends at their work stations; they look forward coming to office every morning. People leave because of boredom and disenchantment from everything. They find no other recluse other than leaving towards somewhere else.
Thus, my project report focuses on EMPLOYEE ATTRITION, focus being the IT & ITES Sector, in the first part starts with some insight on what is attrition & the theory involved. As also looks at the various articles on Attrition in recent times, considering both the negative & positive aspects. Second part deals with the research that was undertaken which includes analysis of data from companies like TCS, L& T, Verizon , Mastek Ltd. & Accenture. Based on the data of these companies, I have also provided some recommendations for employee retention. AN EFFECTIVE HR MANAGER IS FOCUSED ON HEADS THAT COUNT RATHER HAN COUNTING HEADS.