Synopsis

SYNOPSIS ON ATTRITION MANAGEMENT Introduction Attrition can be defined as voluntary termination of an employee’s tenure at the organization and the rate at which human capital reduces in a company is referred to as Attrition rate. With the advent of globalization IT enabled services (BPO) and Call centres came into being and this became a hub for providing specially to young generation who are more prone to attrition, this is becoming one of the prime concerns of HR managers in the firm as it is never an easy task to bridge the ever increasing demand and supply gap of professionals. In India, the average attrition rate in the BPO sector is approximately 30-35 percent which is much higher than global trends  Keeping low attrition levels is a major challenge as the demand outstrips the supply of good agents by a big margin. Further, the salary growth plan for each employee is not well defined. All this only encourages poaching by other companies who can offer a higher salary. Methodology Our aim for this project is to identify key reasons of attrition, knowing steps incorporated within organizations to deal with it and to accomplish this aim we will consider the following methodology: 1. Have a sector wise approach so as to understand the difference in attrition trends and causes in the various sectors. 2. Analyze the methods adopted by the companies in reducing the same 3. Try and apply theories learnt in class to real life instances which would in turn help us in comparing Practical v/s Theoretical learning 4. Conduct surveys to help gain insight into the probable causes of attrition from an employee’s point of view 5. List the various factors responsible for such kind of behaviour exhibited by employees after religiously working for organizations for long duration of time and also losing on the opportunities provided by the firm 6. Interviewing HR professionals as well as managers to know steps undertaken by them to control attrition on a group level 7. Various policies set as part of an organization’s goal to control attrition Expected Outcome We expect following outcomes from this project 1. We will have access to various reasons of attrition in an organization this will help us in analyzing the problem so as to understand and evaluate the solutions 2. Also it will guide us that which theory is actually applicable in a particular sector. 3. This is will help us understand difference between theory and its practical application. Sources 1. We will send questionnaire to employees working in various organizations of different sectors. 2. Internet sites such as www.themanager.org and www.hrfolks.com. 3. Books and Journals available in the library.0