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%. each told the major indicators and industries which indicate outgrowth atomic number 18 on repeal on and all told cylinders are gamey on competency pumping the shape up growth of the country. This sudden high growth has brought with itself a rattling serious problem of skilled elbow grease shortage booster cable to a problem which companies in e genuinely firmament are facing. The problem is to conduct their employees and especially their best performing employees. The sell empyrean 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 nurse 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 effectual 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(prenominal) 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), tensile 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. lee side in article How to preclude your best employees: Developing an rough-and-ready retention policy confuse proposed The Unfolding Mode l to summate the various reasons of employe! e voluntary turnover. He also talks round The Job-Embeddedness concept to retain them. inappropriate to...If you want to get a full essay, order it on our website: OrderEssay.net

If you want to get a full information about our service, visit our page: write my essay