Employee Attrition rates to decline – as an offshoot of Economic Uncertainty in Western markets !

employee attrition

Employee Attrition rate is more in sectors where job opportunities are more. We all know that ! The year 2008 was a disaster! Economic uncertainty started and loomed large then ( thanks to Ex President of United States, George ‘Dubya’ Bush – he literally ‘duba hee diya’ the world due to his lack of economic governance in the US !! ) And, one dividend out of all this mess – software/ tech sector stabilized earlier than anticipated, stability being the need of the hour. No more kite-flying ! no more fancy business ideas looking for VC deals ! No more funds lost by bankers ! the idea was to consolidate what you have on hand and stabilize quick. This thought process did trickle down to employees too. The year 2012 will see a 12% drop in attrition rates in tech sector. I quote from a Economic Times Newspaper article (8th Dec 2011), “Mid Tier IT firm MindTree says there is a ‘Cautious optimism’ in the industry and expects attrition levels to decline in the coming months as against the previous quarter. While there is no negativity within the IT industry, macroeconomic pressures from the Eurozone and North America will play a crucial role in deciding salary hikes and hiring statistics.”

In the mean time, inflation has hit high ‘double digit’ figures in the last one year in India. And the major reason is: there is less business activity/ less GDP within the country; there is policy paralysis in political parties in the ruling coalition government as a result of heightened public consciousness towards endemic corruption in India and the RTI (Right to Information) Act. Indian Rupee has depreciated against US dollar – helping Indian software exports but dampening FII entrepreneurship spirit to invest in India. Economic uncertainty in Europe/ USA has lessened FDI inputs into India. Many current FDI investments are being stalled or scrapped.

As a recruitment consultant aiming to develop long term relationships with clients selected by us, we are concerned about employee Attrition rate. You may wonder…Why should We? More job openings are created, it is more business for us..you may feel. But, if we do such opportunistic ‘horse trading’ business; I feel that is not ethical. We are not doing recruitment for money alone. Job satisfaction of the employee/ our recruit and career building matters to us. At Rambuna Consultants – Ethics are placed much above everything else. We believe, we have the power to empower others by building their careers ! Especially we are very serious about this ability of ours, when it comes to the capable and deserving job applicants. They come to us as a result of their faith placed on us. In fact, we are quite selective in accepting recruitment consultancy offers too. I want to serve clients who believe in employee growth and welfare; who have a ready business plan on the drawing board before commencing recruitment; and who are ethical in their approach towards their recruitment consultants. Most of the time, I personally select clients for our company – reasons could be many: either they are reputed companies adopting ethical recruitment practices; or probably I know the prospective client before hand or the client’s business prospect is interesting and promising – where we can contribute or add value to the client as well as the job applicant. Our website and its content is simple and clear; focused and real ; it only high-lights our sincerity in completing the work we undertake. Moral values have always played a significant role in my life. I will never compromise on that ! We do not want to take undue advantage as a result of employee attrition.

In the present economic situation, a successful recruitment consultant has a larger role to be played. There is greater responsibility on his shoulders now than ever before – ‘To select the ‘Right Match’ candidate to combat the recession-hit market head ON in order to drive the client business well’.

Call us today for a recruitment solution : www.rambunaconsultants.com

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