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In today's competitive business world, it is an essential task to manage attrition as it is one of the major factors on which organizations productivity often depend upon. Conspicuously, people seek new and challenging jobs, attractive subsidy package, flexible work schedules, reasonable leave days, independence, recognition for innovation, incentives, salary that is proportionate with performance as well as safe working environment among other factors capable of keeping them on their jobs. Companies in turn craves for a high productivity, and lower cost labour.
More so, companies in Outsource/off shore industries seem to have a challenge in recruiting and retaining the right talents probably as a result of economic downturns or through voluntary turnover. Reports from previous studies in this area of investigation revealed that loss of skilled talents could lead to poor performance of organizations and this can impact the outcomes of such companies. When organizations loose personnel it is viewed as attrition in the work place. Attrition is the steady decrease in membership of an organization by way of retirement, resignation or death (Goswani & Jah, 2012).
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Generally, attrition could be the number of employees quitting their jobs which accounts for voluntary and involuntary reasons. The problem of attrition is practicable impossible whether in the offshore sector or any other industry, some attrition is inevitable. This is because, some workers will retire, some others will quit for reasons that is personal, and some others could be dismissed whilst some others may be stimulated to leave the profession.
However, attrition issues in the outsource/off-shore industry are caused by the race to the bottom for low cost labor, lack of loyalty to the organization, down playing of employee engagement, unsafe working environment, not too conducive work conditions, poor remuneration and welfare, delay in payments of salary, lack of management encouragement, etc.
In Nigeria, attrition is evident in the fact that almost half of all workers quit the job in less than five years of starting. This creates a difficult situation where more workers quit compared to those coming into the profession. However, some of the challenges of attrition in the Outsource/off shore businesses may be linked to career progression of the people involved. Nevertheless, majority of the reasons that result to worker attrition is viewed from variables such as issues already highlighted above. There is need to understand thoroughly the factors that contribute to worker attrition in the outsource/off-shore industry so as to be able to provide a conducive work environment for them.
Goswami, B. K. and S. Jha (2012). Attrition Issues and Retention Challenges of Employees. International Journal of Scientific & Engineering Research Volume 3, Issue 4. Pp. 1-6.
In today's competitive business world it is an essential task. (2019, Dec 12). Retrieved from https://studymoose.com/in-today-s-competitive-business-world-it-is-an-essential-task-example-essay
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