Industry & Economy
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Human Resources
`Growing cos face higher attrition rates'
Our Bureau
New Delhi
June 15
Rising level of opportunities and employee aspirations has led to an attrition rate exceeding 20 per cent, with the services sector facing the maximum brunt, according to a survey conducted by industry chamber Assocham.
Growing companies face higher attrition rates as compared to the established companies, as confirmed by 65 per cent of surveyed human resources (HR) executives.
The survey, which covered HR heads of 160 organisations, found that the immediate gains in salary package was found to be responsible for the job change in 61 per cent of the cases, however the growth potential was rated quite high as an important reason prompting employee movement. Women employees were more stable than male employees. For every 10 males changing jobs, there was only two females crossing over, according to the survey.
Most of the HR executives were of the opinion that an attrition level of 10-12 per cent is healthy for a company but there are problems that build up due to high attrition.
Eighty one per cent of them felt that one of the major challenges arising out of attrition is loss of intellectual property.
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