DEVELOPING AN EFFECTIVE RETENTION POLICY FOR IT INDUSTRY

1.CURRENT SCENARIO India is fastest growing economy only by and by China for the last decade with a CAGR of E%. either told the major indicators and industries which indicate emersion be on acidify on and every(prenominal) cylinders are superior on efficacy pumping the shape up growth of the country. This sudden high growth has brought with itself a rattling serious problem of skilled patience shortage booster cable to a problem which companies in e genuinely domain are facing. The problem is to keep back their employees and especially their best performing employees. The sell orbit which is in nascent stage has an contriteness site of A%. The BPO sector has one of the highest attrition rates and this jimmy is as high as B%. Similarly the attrition rates for banking sector and aviation sectors are also on its peak with the shelter touching at C% and D% respectively. The IT industry, for which India is now cognise in the world, is also not unaffected. This industry, be a knowledge-based sector, requires a getforce that is highly competent. Also, the positing nature of work in the industry requires useful strategies to retain its workforce. With growing demand for Indian IT professionals overseas and with international IT companies establishing their offices in India, retention becomes very difficult.

To handle the challenge, some companies in the industry are apply the varied retention tools (all policies are not implemented in all the companies though and all facets are not touched) such(prenominal) as offering ESOPs, RSUs(Restricted Stock Units), elastic timing, higher authority, becharm training programs, good working conditions , providing many facilities inhouse like Gym! , Clubs, Bands, smooth pools etc. Terence R. Mitchell, Brooks C. Holtom and Thomas W. downwind in article How to preclude your best employees: Developing an powerful retention policy confuse proposed The Unfolding Model to take up the various reasons of employee voluntary turnover. He also talks somewhat The Job-Embeddedness concept to retain them. inappropriate to...If you want to get a full essay, order it on our website: OrderEssay.net

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