Attrition Boon Or Bane
Attrition, Boon or Bane?
Attrition is Gradual Exhaust. What is getting exhausting? Resources like Manpower, Projects, Infrastructure and other such sources which directly influence business. Whenever people from industry spell the word they mean it is employees. Attrition is referred as a great problem for a company, which has lot of projects on hand and is in expansion mode. But when the same problem is viewed from management point of view Attrition is blessing in disguise when maintained at an appropriate level. What is appropriate has to be decided in consultation with the remaining heads of departments. Advantages of attrition:
1) When employee is not productive either by his own performance or the lack of availability of projects on which he is proficient.
2) When employee exceeds normal increments and remains in the organization in anticipation of promotions without required skills.
This will certainly bring down the responsibility of management to pay extra bit of money which it would incur when it benchmarks a employee and suffers if the projects are not in the pipeline.
Attrition also helps in finding new talents who have a great zeal of energy and willingness to work on projects onsite whereas the seniors would like to stay back in one place for their domestic reasons.
Disadvantage?s of attrition:
1) It lures the potential employees to migrate to other companies in search of either better pay or position.
2) This will definitely put the company on the back foot as the new entrant not only needs to know his role in the project but will also have to cope up with his new team members which will consume time.
These are the few reasons which will force a company to cough up a huge amount of money in availing the services of the sourcing agents.
In the view point whenever we speak about the problem of attrition we mean gradual exhaust of potential employee. Major companies in and around the world are now thinking of finding possible solutions by choosing the available alternatives. Like working from home, Trying to give them lesser pressure like paying their telephone bills, Water bills, Buying groceries, periodic health check camps for the family, School admission for children, these are few activities though appears to be small but surely a strong weapon in the armory to tackle attrition. It is very important that company gains the confidence of the employee that it?ll shoulder the employee requirements shall reduce only increase mutual faith. Company at the time of inception of employee shall look into the strong factors like the responsibilities he is inevitably shouldering at personal level along with the required skill set he possess.
It may be said that attrition is a boon to the organization if taken from the view point of management.