The Importance Of Employee Attrition In The Organization

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It is the most crucial resource on which the Information Technology & Information Technology Enabled Services (IT & ITES) depends. Retaining information technology & BPO sector employees has been a problem in many organizations for decades. The HR managers have been facing a tough time in finding a suitable replacement with required experience and ability, to fill up the vacancies created on account of exit of key employees. When key soft-ware developers quit, they depart with critical knowledge of business processes and systems that are essential for maintaining a competitive advantage. Therefore, it is essential to protect this vital resource, as talented and motivated employees play a crucial role in overall development, growth and success…show more content…
Employees are considered to be the most valuable asset of the organization. It is important to protect this vital resource because the talented and motivated employees play a very important role in the overall growth and development of the organization, but the biggest problem faced by the BPO sector is the problem of attrition in this modern era. Attrition rate in BPO sector is much higher than the attrition rate in any other sector so it is very important to control this attrition rate. To control this attrition rate many retention schemes are applied in BPOs to retain the employees. A single method of training and development alone is not sufficient for employee retention. The best results can be achieved by applying different tools strategically and taking various measures to encourage employees to remain in the organization for the maximum period of time. There is a process in which the employees are encouraged to remain with the organization till the completion of the project. Employee retention plays an important role both for the employee and for the organization also. It is a known fact that retaining the best employees ensures customer satisfaction, increased productivity, increased product sales, effective succession planning and deeply embedded organizational knowledge and learning, satisfied colleagues and reporting staff,…show more content…
They are not the ones who don’t have good opportunities in hand. Whenever they feel dissatisfied with the current job or the employer, they switch over to the next job so it is the responsibility of the employer to retain their best employees in the organization. If they don’t, they would be left with no good employees. A good employer should know the techniques of how to attract and retain its employees. To retain the employees every organization invests a lot of time and money to groom a new joinee, make him a corporate ready material and bring him at par with the existing employees. So when a fully trained employee leaves the organization it brings a great loss to the employer. Employee retention takes into account the various measures so that an individual stays in an organization for the maximum period of

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