In today’s innovative technological world, the attrition rate in an organization has immense significance as the same lays down the foundation of the growth path for a successful organization. Attrition is one of the primary focus area of research in one of leading interview outsourcing company in Banglore. Attrition occurs in almost every organization; however, it is the attrition rate that provides insight into employee retention capacity in the company.
High attrition post recruitment is an implication of poor retention capacity of the organization, which is a deterrent to the growth of the organization in the short as well as in long term.
Numerous researches have been conducted on improving the attrition rate of an organization. Here are the 10 ways to decrease the attrition rate.
Attrition rate is an insight into employee retention capacity
1. Effective optimization of recruitment
One of the most prominent reasons for the high attrition rate in an organization is the ineffective recruitment process. The popularity of interview as a service platform in Bangalore is due to the effective hirirng process offered by the technical interview outsourcing company in Bangalore.
It is very important to analyze the candidates effectively according to the desired profile without any conscious or unconscious bias. Hiring should be based on the long-term vision of the organization rather than on a single project.
Hiring in a hurry for a particular project without putting much thought into it is one of the primary reasons for the high attrition rate in an organization. This not only hampers the brand of the company but also overall loss of revenue and resources.
2. Improvement of work culture and condition
Every organization has its own work culture; positive, unified work culture and condition has a long way to go when it comes to employee retention.
Homogeneous, cohesive work culture and team built-up is a significant part in improving the effectiveness of the resources. One has to keep in mind that despite conquering a rigorous selection process if a candidate fails to perform on the job, it is time for the management to look deeper into the company culture rather than being dismissive about it.
3. Improvement of Employee engagement, sharing mission, and vision
Communication with the employee is one of the key components in the success of any organization. One of the best interview service platform in Bangalore recommends that keeping the right people motivated is a important key for a successful organization. A clear vision of the goal always keeps the resources motivated and gives them a sense of inclusiveness which in turn helps to earn their dedication and commitment for the organization in return.
4. Empowerment of employees
One of the most potent ways to retain valued employees in the organization is the empowerment of the employees. Most valued employees are assets of the company and losing them to the competition affects the growth of the organization. Finding a replacement for such an employee is a challenging job of the recruiters and time to fill such a position in hurry, one has to compromise on the skill set of the recruits thereby contributing to a high attrition rate in the future.
Hence, empowerment of employees should be given priority and some of the steps towards the same are:
- Training the employees for professional growth
- Improvising the scope of work
- Challenging employees in a positive way
- Encouraging employee participation in decision making
- Building up the self-confidence of the recruits
- Providing them a safe platform and environment to express their ideas and thought processes etc.
5. Flexibility at work
It is now a proven study that flexible working hours can lead to higher and effective working hours. Flexible working hours do not hamper growth as long as the employees do not ignore their responsibilities. A good leader knows that providing the team with flexible working hours improves employee satisfaction and productivity.
6. Keeping the right people motivated
Attrition happens in every organization and it is incorrect to portray attrition in a completely negative light. Few benefits of attrition:
- Sometimes, attrition is necessary to save the organization from immediate financial downfall
- It is a boon to be surrounded by people who are motivated to perform, learn and improve skills, and the resources that value such work culture and environment stay for a long run. However, some wrong fit might pollute and corrupt such an environment, and one has to let them go.
7. Workforce analysis
It is important for understanding the core of the workforce and how to use the resources judiciously to obtain maximum output. This analysis gives a clear status of the employee profile related to workforce engagement, job satisfaction, objectives, etc. A detailed picture of the company analytics helps the top management to create a model to obtain optimum hiring target keeping the attrition rate in control.
8. Training and development program
Training and development program is not only important for the personal development of the employee, but it also gives them a motivation to perform well on the job and give them a positive approach towards their organization as it is giving importance to the overall career build-up of individuals.
Routine, monotonous work sometimes leads to disengagement, and training and development programs can work as an instant boost for the employees.
Training and updating the existing resources enable the company to optimize the available resources thereby they can escape unnecessary last-minute hiring, and in the long run, reduces the attrition rate.
9. Have fun and a happy workplace
It is very important to encourage the resources to have fun with work. Having fun at work does not mean team outdoor activities only, its goal is to create a cohesive, inclusive environment with a positive approach and encouraging resources to pursue their hobbies, giving them the freedom to express themselves without judging, respect their personal space thereby developing a harmonious work environment.
10. Updated HR policies and perks
Human resources policies and perks should be updated on the regular basis keeping in view of the competitors, as the same will give them an edge in achieving the hiring targets.
Top talents will always look for an organization that has better HR policies and perks over another without. Appraisal and appreciation go a long way and works as a great motivating factor.
The above-mentioned points are only a few handpicked ways to reduce the attrition rate. As the technology grows in other sectors, research on development in understanding human behavior vis a vis organization, resources, cognitive development of individuals, happiness quotient, etc. are emerging. Each day new studies are emerging concerning the reduction of attrition rate, and on demand interview service company in Bangalore, Vprople has been focusing this to understand impact of attrition rate in the overall hiring process. industries have accepted the fact that attrition rate is one of the vital aspects of the development of a successful organization.