It’s appraisal season again and while employees are waiting for salary hikes, companies are trying new tricks to control attrition.
Appraisal time attrition (Cartoon by Jayanto)
Companies including Godrej, HCL, Infosys, Dabur, Britannia and Tata Group are hunting for ways to control talent drain and keep attrition levels at minimum.
Tata Chemicals Ltd, for example, has recently devised Shine (short for Systematically Harnessing Internal Expertise), which, the company claims, has helped in reducing attrition quite effectively. “With such initiatives, our approach is to provide job rotation, challenging assignments and exposure to high-quality training and development,” said R Nanda, head, HR, Tata Chemicals.
Others are trying out salary hikes and promotions, traditional ways of hooking staff.
It major Infosys, after facing several top management exits, has given two consecutive wage hikes and promotions at all levels last month. The company has also restructured the available compensation structure.
Some are also focusing on issues of re-skilling, training and career growth. “Salary is not the only factor on which employees switch jobs. Softer issues such as career growth, training, relationship with the boss or colleagues are also important,” said Mayank Chandra, managing partner, Antal international, UK-based executive recruitment firm.
HCL Technologies has also initiated various training and skilling programmes to avoid job hopping. “We believe that people who are more comfortable with re-skilling themselves will continue to be more successful,” said Prithvi Shergill, head, HR, HCL Technologies.
Overseas exposure is also emerging as a popular tool to retain staff. “We have in place variety of measures to engage employees including overseas exposure, which encourages people to think out of the box,” said V Krishnan, executive vice-president, HR, Dabur India.