[LeadersWorkshop] Latest Trends of Hiring, attrition &Retention-Business Manager-HR magazine [1 Attachment]

 

[Attachment(s) from anil kaushik included below]

Dear friends,

 Whether business sentiment is up or low, rupee slides or regains, austerity measures  need to be taken or not, one factor remains challenging for business and that is hiring quality of people. All people related problems arise in business due to this factor, specifically when hiring regains and everybody starts taking firefighting measures to bring headcounts at par with requirement in the organization diluting quality in hiring processes.

 This may happen again, because there are signs of upward hiring in all important sectors in coming FY. 2012-13 BM-Genius survey  conducted to gauge the  mood of corporates for hiring, pay hikes , retention and attrition ratify this mood. There are also many other surveys' findings suggesting low pay hikes, and increase in attrition. It is natural. Whenever, hiring regains, attrition also shoots up. Attrition and retention works together as one group is pushed out through attrition just as the organization attempts to retain another. All these indicators pose an everlasting challenge for HR professionals sitting at helm of affairs to ensure good hiring practices, bringing attrition down with low pay hikes comparing to last year. 

BM talked to dozens of HR people, experts, and thinkers and all have put one common pre-requisite to meet out these challenges-the quality hiring practice. HR people have their own perspective. In most of the organizations, hiring is always done under pressure from technical departments to meet the people requirements immediately. Technical people don't appreciate necessity of enough time for quality hiring. Under pressure head count hiring always results in to first year attrition casualties.  First year attrition is really an organization silent killer. The first year attrition damage can be disastrous at worst. It resonates across the organization far more quickly.

Understanding that hiring practices and retention policies go hand in hand can result in formulating and implementing better people management policies. Attrition levels can be lowered to a large extent if the recruitment and retention functions are intelligently integrated. It should be a part of long range plan and not of meeting short term goals.

 Organizations need to become more aware of the strategic importance of recruiting high quality employees at a matching cost, but it is also important that every recruitment channel is aligned to the quality of sourcing and selection standards which reduces attrition. If you are going to use the recruiting agency, make sure they are fully engaged, understand your business, the role and ultimately what you are looking for. Close engagement of agency with the organization will increase the chances of finding the right person -and how good the agencies   work so closely with the organizations to make a quality hiring is open to debate.

 As earlier said, June 12 issue of BM is an attempt to present comprehensive picture on current hiring practices, retention techniques and reducing attrition through articles, discussion sum up and experts' views.

regds

 

 

Anil Kaushik
Chief Editor,Business Manager-HR magazine
B-138, Ambedkar Nagar, Alwar-301001 (Raj.)
09829133699
www.businessmanager.co.in

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BM-Highlights-June-12.pdf

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