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There are many sectors including IT, ITeS and BPOs which are currently facing a major problem of high attrition rate. The reason could be anything. Probably the lack of incentives at current workplaces or better offers from rival companies, due to short of manpower supply, might be tempting employees to move away.
But regardless of such external factors in which the current employers can hardly do anything about, the matter of fact remains is that the employees do get motivated or de-motivated by the way employers treat them. There are three ways of getting work done from your subordinates - Instigation, Motivation and Inspiration. Instigation is the way terrorists are made to work. Motivation involves incentives and promotions, whereas inspiration comes from within the self of employee, which is eternal and ever lasting.
The real challenge of an employer is to take his employees from "Motivation to Inspiration".
Chanakya brings out reasons which demoralises employees.
"Reasons for dissatisfaction of subjects: By ruining human exertions, By spoiling the excellence of work done" (7.5.19-26)
Employees work hard and exert themselves. If their efforts are not recognised and instead destroyed, the first seed of attrition is sown. Secondly, when the employees create or produce better for the company, he or she deserves rewards. Then, how to inspire employees?
MONEY REMAINS THE PRIORITY
Do employees work for money? Yes they do. That is the first and the most important requirement. No organisation can keep a person inspired, if the salaries are not paid in time. Also make them work beyond the salaries. Employee stock options, incentives, share in profits and other schemes can be worked out by the management to keep the employees financially secure.
WORK HARD, REST WELL
Employer has to believe that the optimum productivity is achieved by giving space and peace of mind to the employee. In some developed countries, employees work very hard for 10 months to take a two-month vacation. We may find a problem with this model but the important fact is that two-month vacation's idea has made the employee work hard for 10 months. The balance between work and rest has to be maintained for better results.
A HIGHER 'PURPOSE'
Employees also want something beyond money and that is respect and challenge. They also want a purpose for their lives. If the leader is able to find that 'purpose' for the employees, success is guaranteed. This is a spiritual requirement. SQ (Spiritual quotient) of the employees has to be developed.
A recruitment advertisement for a well-known IT company carried a slogan with the employee's photograph saying, "I found a purpose to live for - in this organisation". One of the recent 'Best employer' survey has also found this as an essential component to keep employees on high satisfaction level.
(The author is the director of ATMA DARSHAN, a company that provides services, including spiritual tours. He is a management consultant and trainer. He can be contacted at radhak...@atmadarshan.com)