How to Stop Employee Turnover in India
The attrition rate in some Indian IT companies is as high as 50%. Are you aware of the correlation between thinking of leaving job and actually leaving the job is high? An article published in Forbes digs out the causes of high attrition rates and steps to be taken to retain employees in India-
It’s no wonder workplaces everywhere are obsessed with employee engagement – everything seems to link to it. Engaged workers are more productive, perform better, motivate others and, perhaps most importantly – stay. So it is also no surprise that in a labor market such as India where attrition rates of 20-30% are normal and 50% in industries such as IT not unheard of, serious questions about engagement are being asked.
Let’s start with the stats. A recent Mercer survey highlights that no fewer than 54% of Indian workers are seriously considering leaving their jobs, and that figure spikes to 66% in the 16-24 year age bracket. And they’re not kidding – other independent studies confirm the correlation between intention to leave and actual turnover. The really tricky part is that the people considering leaving are not even desperately unhappy. 76% of Indians surveyed reported satisfaction with their jobs and 75% with their organizations.