Table of Contents
1 Introduction 3
2 Literature Review 3
3 Reasons/ Factors for the Attrition 5
2.1 Changing Life Style 5
2.2 Labor Mobility between different sectors/ industry- Transferable Skill sets 5
2.3 Increased competition for labor 5
2.4 Salaries and benefits: 6
2.5 Lack of opportunities for personal and career development 6
2.6 Ineffective Leadership 6
2.7 Workplace Relationship 6
2.8 Ineffective Recruitment 7
2.9 Vicious Circle of Attrition 7
4 Possible Retention Strategies 8
3.1 Well defined Turnover Cost Evaluation Procedure 8
3.2 Company Brand Management 8
3.3 Effective Recruitment Process- Collaborative Approach 8
3.4 Measurement and Accountability 9
3.5 Family Friendly Environment 9
3.6 Employee Involvement 9
3.7 Exit Interviews 10
3.8 Training, Development and Career Planning – Talent Value Management 10
5 Conclusion 10
6 Bibliography 11
List of Figures
Figure 1 Vicious Circle of Attrition (Sengupta, 2008) 7
1 Introduction
Human asset has become the vital part of the successful business and to keep expenditure low. Securing or retaining the talented pool of employees and skilled labors has become a challenge for every organization as the knowledge and skills of employees are core to the company’s functioning and competitiveness. Attrition or employee turnover is the very fact associated with every organization. But the high rate of attrition can be detrimental to the organization.
The Construction industry being dynamic at times lead to dramatic shift from shortage of skill labor supply during the peak phase to the excess of labor supply when the project gets complete. Attrition leads to the high turnover cost, prime cost that company bears but often neglects to take into cons...
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... Managing Employee Retention as a Strategy for Increasing Organizational Competitiveness. Applied H.R.M. Research .
Ross, B. (2007). Employee Retention:What Employee Turnover Really Costs Your Company. Retrieved from Webpronews: http://www.webpronews.com/
Sengupta, S. (2008). Employee Attrition and Retention: Exploring the Dimensions in the urban centric BPO Industry.
Strategies to engage and retain professionals in Middle East . (2008). Retrieved from Manpowergroup: http://www.manpowergroup.com/wps/wcm/connect/88436d9a-9403-47e5-887b-28536d20057d/Retaining+Talent+in+the+Middle+East.pdf?MOD=AJPERES
Ware, L. B., & Fern, B. (1997). The Challenge of Retaining Top Talent: The Workforce Attrition Crisis.
Yamamoto, H. (2011). The relationship between employee benefit management and employee retention. The International Journal of Human Resource Management .
in 1881, the mission of the USTA is to “promote and develop the growth of tennis.” The mission statement serves as the guiding principle for all activities of the United States Tennis Association. The USTA is the largest tennis organization in the world. It operates with the assistance of 17 section associations, serving more than 665,000 members and 7,800 organizational members. The USTA is managed by a Board of Directors which establishes the policies and objectives of the Association. The members
submitted in partial fulfilment of the requirements of the unit Business Writing in the Diploma of Information Technology. Sometime recently, partnership was fundamentally on edge about the economic results of their choices. In any case, these days that shows a great change as in 21st century change of advancement companies have ended up being more productive and more contenders now exist in the field. So now business affiliations have understood that
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=94616.3/19489.3 = 4.85 times =69597/17326.7 = 4.02 times =57068.2/1999.6 = 4.75 times Working capital turnover ratio: This ratio show a how many times the working capital has been employed in the process of carrying on the business. Higher the ratio, better the efficiency in the utilization of working capital. workingcapital turnover ratio=(sales )/(current assets-current liability) 2015 2014 2013 2012 2011 =125997.1/45082.60 = 2.80 times =110866.4/40614.20 = 2.73