A Comprehensive Project to identify the Measures to To Reduce the Higher Attrition Rate among COE Finance

WHAT IS ATTRITION?
Defining attrition:
"A reduction in the number of employees through retirement, resignation or death Defining Attrition rate: "The rate of shrinkage in size or number"

OBJECTIVES OF THE PROJECT

1) To fulfill the future needs and aspirations of employees in the organization. 2) To verify the satisfaction level of employee in the organization. 3) To ensure co-ordination between the employees and the organization. 4) To protect the interest of the employees in the organization.

5) To bring out proper working between employees and organization to improve the companys image.
6) To make employees proud of their own company. 7) To take efforts and measures to improve the situation and conditions of employment. 8) To understand the rules and policies followed by the organization.

SCOPE OF THE PROJECT

Normally appointment must be made in accordance with the policy of the company.
When employing temporary as casual staff on a short term basis the principles of good practices outlined in the policy should be followed.

REVIEW OF LITERATURE
Shared services industry is being looked upon as the next big employment generator.
The reason for the high attrition rate Work Pressure Females in the workforce Turning down challenges Mostly fresh graduates, take it as a pass-time job

ATTRITION RATES
Attrition rates

Global Average, 25% USA, 32%

India, 10%

Europe, 14%

Australia, 19%

TOP FIVE I.T COMPANIES

TOP FIRING COMPANIES TOP SECURE COMPANIES

I. II. III. IV. V.

IBM Accenture Wipro Intel CTS

I. II. III. IV. V.

Microsoft EDS HP TCS Google and Yahoo

RESEARCH METHODLOGY
Primary source includes
Interviews Questionnaire Sharepoint

Secondary source includes

HR Dept. Company record

Sample Size includes

Sample size is 600

Types of Attrition

ATTRITION

VOLUNTARY

INVOLUNTARY

Reasons For Attrition

Personal Reasons Financial Reasons

Other Reasons

Reasons for Attrition

Others, 10%

Satisfaction, 35%

Higher Packages, 55%

FINDINGS AND CONCLUSIONS

The recruitment and selection through walk in interview only.

They try all possible ways to retain their employee but if not then Retention polices followed provides the employee both monetary and non monetary benefits. Various other workshops conducted which helps the employee to be motivated and keep working.

Other welfare program are also conducted for them.

The exit interviews were conducted as and when required by the company.

SUGGESTIONS AND RECOMMENDATIONS

Companies can look into various options like good rewards, bonding programme, flexible working hours and stronger career path.
Management also needs to consider other aspects like secure career, benefits, perks and communication. Making work a fun place, having education and ongoing learning for the workforce and treating applicants and an employee in the same way as one treats customers. Companies need to go in for a diverse workforce, which does not only mean race, gender diversity, but also include age, experience and perspectives.

THANK YOU ALL

ANY QUESTIONS PLEASE ???