With businesses and organizations growing leaps and bounds, workers much more competitive than ever before and the paucity of the ideal person organization fit, one should not have the utopian belief that knowledge would be stable and everlasting. The head counts will vary both in terms of numbers and potential. In the present world, people more professionally and technically qualified and greater temptations around to switch a job has made attrition as an issue beyond HR Analytics.
Corporations have accepted that attrition is an inevitable phenomenon but when it goes into the red zone that is when it becomes an alarming signal to take stock. It is necessary to explore and understand the causes and to formulate policies around it. Corrective measures are necessary to retain employees and the tacit knowledge that they carry.
There is a need for a diagnostic tool that analysis employee attrition. Research proves that there is a strong correlation of employee satisfaction and customer satisfaction. So the analogy says to have loyal customers we need loyal employees.
The much irritation going around for employee engagement, employee satisfaction & employee retention is self explanatory of the fact that Attrition is a major issue for organizations. With good people quitting the company, it not only incurs additional costs of hiring and training but the virtual cost of knowledge gap that is created. It also disrupts the workforce planning measures.
The thought universally accepted is that it is always more beneficial to retain a customer than to find a new one. And when it comes to the “internal customer”, it is all the more indispensible. Attrition affects business processes, productivity, quality of output, efficiency and the bull whip effect affects something most dear –Profits. It is perhaps difficult to quantify such implications of attrition but their existence and relevance is unanimously agreed upon.
We know exit interviews are important and exit analyses seem to do only a little in terms of identifying the causes of attrition. The causes of attrition could be varying –organizational, environmental and individual. It requires a more research based and exploratory framework to cater to the present needs. It needs a multi faceted approach that not only identifies the causes but also renders solutions. It should also diminish the barriers of distance, time and scalability. In brief, it has to be an All in One toolkit.
Framework in addressing the real problem:
Leavers DNA is a scientific analysis based on the business intelligence and data analytics framework to identify the underlying current of attrition in organizations. As the name suggests it is the DNA (Developmental needs analysis) of the Leavers. It is based on the principles and established theories of organizational Behavior.
It is a cross sectional study wherein the ex employees are involved. It does not restrict to quantitative analysis but goes beyond to explore the stories behind. To put it technically it has a qualitative approach as well. The analysis is not micro, it is nano.
Effective People’s Practices gives effective business results. To combat the problem of attrition needs an unbiased and holistic approach. The vision is to give informed and empirically backed results and not snap judgments.
The framework of the tool kit has a step by step approach. It begins with the comprehensive questionnaire that captures all aspects pertaining to an employee’s expectations with the organization and the different touch points that can turn him off or on. It has a backward linkage that is specific to the company and forward linkage for industry analysis and comparisons.
The data collection is done in a professional and scientific manner minimizing bias and perceptual errors. The data is recorded and organized to be used for statistical purposes.
The findings of the study are translated into feasible solutions and practical recommendations. In short, it questions the modus operandi but at the same time provides substantial and concrete answers.
The approach is holistic and generic but is open to customization as per organizational and industrial needs.
Main Key Feature of the Model:
- The model is built around scientific approach and its features are multi dimensional
- The framework for data collection is very elaborate and considers the demographic dimensions very comprehensively.
- The Questionnaire covers the short and long run issues of attrition.
- The questionnaire is designed in such a way that it segregates the Delight (Short term benefits) and Connect (long term benefits) without any discrepancies.
- The questionnaire is designed in such a way that it captures the intricacies and nuances of the respondent in a subtle way and gives very elaborate analysis later.
- Data validation is rigorous and all measures are taken to ensure mistake proofing.
- The analysis is done at various levels with a format that is easy to understand for the different stakeholders.
- The results and observations are quantifiable & measurable which makes it easier to act upon.
- The qualitative analyses capture the soft data and come up with very specific and thoughtful solutions.
- The recommendations that are made are directed to the needs of the organization and the industry it belongs to.
The process of disillusionment and fact facing itself sets the ground for constructive change. Once the vision of the organization and the people’s practices are aligned and is relooked with HR perspective, it will bring in more vitality.
The business results are
- Creates awareness and vigilance on the bottlenecks of employee retention.
- The approach is designed to give attention to each element involved in attrition.
- Helps in formulation of better recruitment policies i.e. getting the right people on board
- Reduced costs in terms of hiring and training
- Reduction in knowledge gaps arising out of attrition
- Competitive advantage in retaining the best talent
- Creation of more employee friendly policy frameworks.