Financial Daily from THE HINDU group of publications
Wednesday, Dec 10, 2003
Financial Daily from THE HINDU group of publications Wednesday, Dec 10, 2003 |
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Corporate
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Human Resources `Attrition spreading to traditional sectors as well' Our Bureau
New Delhi , Dec. 9 ATTRITION is not just rampant in the BPO sector, but it is fast catching up in other traditional sectors such as manufacturing and engineering, public sector undertakings and services. According to an Employee Vulnerable Study by NFO India, employees in the traditional sectors are most dissatisfied and would switch jobs at the first available opportunity. However, employees belonging to new-age sectors such as financial services, insurance and banking, FMCG and white-goods, IT and telecom seem to be relatively more satisfied. Mr Gautam Nath, Director-Corporate Services for NFO, said the "possible vulnerability" of white-collar workers should ring alarm bells for HR heads. The major pitfalls for the manufacturing sector were found to be lack of growth opportunities, dissatisfaction with job content, inadequate emphasis on policies and systems and interpersonal relationships. "There is a crying need for companies to engage the employees' interest by creating a conducive environment for growth, learning, bolster `we-feeling' and compensate as per industry standards," said Mr Nath. "After all, the hidden costs incurred in attracting the right workforce and on-the-job training, is phenomenal. Also, if we take into account client business that goes away, each time we lose a key performer," added Mr Nath. NFO randomly polled over 200 corporate executives from some leading companies in Delhi, Mumbai and Bangalore. It is aimed at understanding motivation levels of employees, reasons for high degree of employee turnover in certain sectors and factors that keep the interest level of employees going.
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