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Attrition Rate : A serious term in IT sector

Guys, as all you know the impact of IT sector on our life as well as in the business industry. Here I am going to focus on some serious issue i.e. "Attrition Rate" that everyone can thing over it. First we look out at the definition of Attrition and Attrition Rate.

Attrition is a reduction in the number of employees through retirement, resignation or death and Attrition Rate is the rate of shrinkage in size or number.

In the best of worlds, employees would love their jobs, like their coworkers, work hard for their employers, get paid well for their work, have ample chances for the advancement, and the flexible schedules so they could attend to personal or family needs as and when necessary.

Why 'Attrition Rate' is more in IT-Sector & what are the step taken to reduce it?

But then there’s the real world. And in the real world, employeesa, do leave, either because they want more money, hate their co workers, want a change or because their spouse gets a dream job in another state. So,what does all the turnover cost? And what employees are likely to have the highest turnover? Who is likely to stay the longest?

Information Technology as an industry is very dynamic, lots of staunch competitors in the same field. IT as an industry is segmented into Global Consulting or Product Development companies. With the increased offshore projects hitting, a lot of technological companies re trying to acquire as many projects as possible. Lots of Projects coming to INDIA, due to cheap labour and professional excellence proved. If you compare the increasing demand for the IT professionals and the jobs that need to be offshore in India, there is a huge dissonance in the demand and the supply. Naturally, acquirrng talents become difficult in such a situation. Since the inflow of fresh talent is relatively less, the same professionals in the market keep moving from one companies to another.

Lot of things attract such individuals as well as there are reason for attrition as follows:

Salary hike
Promotion
Less onsite opportunities or may be onsite opportunities
Brand
Job Satisfaction
Facilities
Working Environment
Work Pressure

Work culture and management-IT industry is known for its high pressure work atmosphere and long working hrs, which create high levels of stresss, employee and high attritions rates.

Transformation in lifestyles, identity and family.

Lack of good leaders who can motivate and guide their team well-IT managers lack both the time and tools needed for assessing their team members and taking corrective action to improve their performance which is directly related to job satisfaction.

Increasing percentage of women employees-Most women leave their job either after marriage or because of long working hours, work stress and other social pressures.

If all you might remember the suicide case of one of the ITian at Pune, what you thing? Is it any reason responsible to suicide incidence.



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