RETENTION IN INFORMATION TECHNOLOGY INDUSTRY

Presented By:Akshatha D Salian

To verify whether Compensation is the main factor for employee retention

Factors causing employee turn over

The importance of retention

Methods adopted by IT companies to retain people

RESEARCH OBJECTIVE

Survey Sample - 46 employee responded to the survey

The questionnaires have been answered by employees of

Infosys Wipro Cognizant

RESEARCH METHODOLOGY

Hewitt ‘Attrition and Retention’ survey - ‘external inequity of compensation’

27 per cent of the employees in their exit interviews mentioned compensation as the primary reason

LITERATURE REVIEW

Compensation No growth opportunities Job is not what the employee expected to

be Lack of appreciation Lack of trust and support in coworkers,

seniors and management New job offer Stress from overwork and work life

imbalance

WHAT MAKES EMPLOYEES LEAVE

The Cost of Turnover

Loss of Company Knowledge

Interruption of Customer Service

Goodwill of the company

IMPORTANCE OF EMPLOYEE RETENTION

KEY FACTORS IN RETENTION

The growth of the Indian IT Software & Services and ITES-BPO sector has a perceptible multiplier effect on the Indian economy

Players -Indian software industry has a mix of a large companies and several small to medium sized companies. Some of the key players in the industry are Infosys, Wipro, TCS, Patni so on

INFORMATION TECHNOLOGY SECTOR

Company Attrition rate (FY 06)

Wipro 13%

Infosys 10%

Cognizant 11%

ATTRITION IN IT INDUSTRY IN INDIA

Higher Education Support policy (HES) Payouts to all employees, based on the

revenues and profitability of the company Employees voice heard through annual

survey as well as feedback in several communications Forums

Cultural programs, transport, food etc. Quarterly reward and recognition events in

all units across Infosys Employee Stock option plan

INFOSYS

Performance based reward system Rotating employees between different

projects as well as technologies Open work culture - togetherness events,

Annual day celebrations, or opinion polls conducted across the organization as inputs for policy decisions

Opportunities to learn and grow through a proactive training program

COGNIZANT

wings within - an internal job posting system

Employee survey -employees provide inputs on the health of the workplace

HR review in the planning cycle - Company does succession planning for individuals wherein it identify the best talents

WIPRO

What according to you is the best strategy to retain Employees

ANALYSIS

Salary is not the single most important factor employees are looking at

Employee satisfaction and exit interviews are the most commonly used methods for finding turnover

Best methods adapted by organization to retain employees are

Compensation Career growth Work Environment ESOPs

FINDINGS

Employees are valuable investment so organization should ensure they have

clear job roles

supervision and skills to perform the job

opportunity for growth Compensation as per their job

responsibility

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