Wake up, you?re losing your best
Across the Indian market, employers are grappling with an exodus of talent, writes Sushmita Bose.india Updated: May 14, 2006 02:24 IST
If you are thinking of changing your job, you are not alone. Across the Indian marketplace, employers are grappling with an exodus of talent. India Inc's attrition rate, in all sectors, has more than doubled over the last year.
And the next year will see, by moderate standards, at least a 70 per cent jump over the current situation. Nearly every company today faces a 20 per cent attrition rate — and even this figure is an "underplayed" one; an organisation that is better off is a 'privileged' player.
So what's eating India Inc? Executive Access, one of India's largest headhunting firms, conducted a survey across 100 companies panning all sectors on what "demotivates" employees at the workplace and, therefore, results in attrition — the findings of which have been given exclusively to HT.
Three key areas of discontent emerged: politics and backbiting; lack of empowerment; and disregard of organisational values. Women feel more strongly about the first area: 41 per cent felt that workplace politics came in the way, while 33 per cent men felt likewise.
Significantly, media is the only sector where "lack of empowerment" topped the gripe-list at 36 per cent, while the rest of the sector blamed it on politics and backbiting (with hospitality topping the list at 48 per cent).
In the top management rung, 22 per cent were upset with "constant supervision", while in junior management, a new parameter emerged: that of "public scolding" (13 per cent objected to it).
And if you thought all that matters to workers is a bulging pay packet, here’s a reality check.
The surprise element in the findings has been the importance of "lack of organisational values", where the IT and ITeS sectors took the lead in complaining — at 23 per cent.
"Values translate into commitment, which, in turn, translates into ethics — and finally organisational pride, which is something every employee is consciously — or unconsciously — looking for," says Ronesh Puri, managing director, Executive Access.
How much of the de-motivation is directly proportional to attrition?
"Demotivation is the main reason why someone would want to leave a job," feels Puri. "Today, there's a surfeit of people but a woeful lack of talent. If somebody's good at his/her job, offers are going to pour in - so it's in the company's interest to retain its employees."
Are the bosses listening?