Create a sound retention plan by diagnosing turnover drivers

Create a sound retention plan by diagnosing turnover drivers

After much hyped global Great resignation, do you feel it has affected India also? If so, how and to what extent? Is it limited to tech talent or spread to all sectors?

SV There is always some sort of “Tsunami” in every few years which impacts employees and companies. In 2022-23, it is ‘Great Resignation’ phenomenon. A lot has been said and written about it. I believe, like any “Tsunami”, it is going to leave only regrets for all; employees and companies in this case.

Attrition rates for all skill sets in IT and other sectors including support roles like HR, finance are skyrocketing and compensation hike offered is unprecedented. While in the US and Europe, the factors like burnout, low wage, sound social security protection and unfair treatment by employers are factors to drive this trend, in India mostly this limited to salary raise that too in white collar jobs to a large extent, besides work from home, flexi time opportunities and career progression.

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Subir Verma

currently is Chief HR, IR and HS at Tata Power DDL and author of the book "Job Search Secrets - Master the art of getting a Job".

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