Delay attrition
To stop attrition the Indian corporate sector is devising innovative ideas to retain talent.New economy companies are paying cash bonuses to the tune of 25-30% if employees stick on for 12-24 months.Some are sponsoring spouses along with the staff for subsidised management development programmes.Performance bonus or performance linked bonus are also being used extensively.Innovative insurance plans are a big hit among employees and their families.The attrition rate in a company generally shows whether a company is a good place to work and how effective is its HR policy. Attrition control now goes beyond general HR policies as in these booming conditions with scarcity of available talent , attrition is bound to be high across all industries. A high rate of attrition generally gives a negative picture of the company. Companies are now sensitive aboutdisclosing attrition rates and are finding ingenuous ways to keep the attrition rates low. Some companies would generally quote the industry average than their own attrition rates if their attrition rates are on the higher side.