Tuesday, August 23, 2005

Attrition: Is there a way to contain it?

The Indian IT companies are facing a huge task of attracting and retaining talent as the demand to fill position has skyrocketed with increased offshoring. With India still very much in the radar for offshore work, homegrown Indian firms and MNC's are setting up center to tap Indian talent pool. The fallout : employee turnover.

Major IT houses are facing a daunting task of retaining talent against MNC's entering the Indian market offering higher salaries. Companies are forced to relook and rethink their retention strategies. Question is, how do you retain your existing talent pool from becoming prey to other companies. Is there any formula or is there a way.

Differentiating the cause of attrition usually help derive at strategies which in turn will help combat attrition, however how seriously and prompty we act on it, makes us a winner or loser.

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