One of the toughest problems that confront HR managers these days is `Employee Attrition'. It is a sporadic occurrence of depletion of HR resources, caused not only due to resignation, death, retirement or disability, but also by the burgeoning mobility of the `Human Capital'. This mobility, on its part, assumes, very often, endemic traits and, on occasions, even epidemic dimensions beginning as a trickle and swelling into a cascade. Studies by HR experts have also revealed that the so-called `Globalization' and `Innovation' in business processes, services and products for competitive survival by corporate giants and business houses, have resulted in the birth of novel concepts and fresh styles of management as a part of the relentless exploration of new surviving possibilities.
As a result of this lateral and vertical growth, skilled and even semi-skilled workers find a matrix of possible avenues for self-development. Hence, employees, driven by ambition and desire, shift their respective corporates, industries, states and countries to others in search of greener pastures. Though `employee attrition', may be sporadic and irregular, it is one of the greatest concerns for the management teams of the business houses, particularly the HR department. Of course, in an ideal situation, wherein the employee is bonded with the employer emotionally in toto, or in an exactly opposite situation, wherein the employee is tied to the employer by compulsion through agreements or bonds, employee mobility may not be an issue at all. |
