Yellojobs com probes employee attrition in online survey
Released on: January 5, 2008, 12:03 am
Press Release Author: Aditya Kumar
Industry: Human Resources
Press Release Summary: Yellojobs.com, India's referral recruitment network, has conducted an online survey covering thousands of jobseekers in India to understand the real reasons behind why people quit. Yellojobs.com is a joint venture between Singapore-based online advertising company Yello Pvt. Ltd, and London-headquartered recruitment company Contact Recruitment Ltd, which has a strong presence in India.
Press Release Body: Yellojobs.com, India's referral recruitment network, has conducted an online survey covering thousands of jobseekers in India to understand the real reasons behind why people quit. Yellojobs.com is a joint venture between Singapore-based online advertising company Yello Pvt. Ltd, and London-headquartered recruitment company Contact Recruitment Ltd, which has a strong presence in India.
Yellojobs.com is not based on a subscription model, whereby instead of advertising for job opportunities, companies need to pay per successful hiring on the site. A referral fee of Rs 5,000 is then paid by the company to anyone who refers a candidate for the job, upon the completion of the latter's defined "Retention period" on the site. This model is unlike other job portals where companies have to pay initially for the advertisements on job portals, irrespective of results.
Yellojobs.com also provide unique facilities for jobseekers like application history, referral history, photo resumes, networking tools, professional endorsement tools, career blogs, boot camp and more.
Commenting on the online survey, Vikramjit Singh Sahaye, GM (India), Yellojobs.com Pvt. Ltd, said, "Employee retention activities are increasingly gaining centre stage as compared to fresh recruitments. Retaining talent not just makes commercial sense, but also helps improve project efficiencies and build a desirable brand value for the future. Compensating employees for referring good candidates is also becoming exceedingly rewarding both for referrers and employers."
The survey highlights that over 70 per cent of top IT & BPO companies face attrition in excess of 20%.
According to the survey, which was conducted among professionals irrespective of the career span, monetary gains are not the only reason for people changing jobs. Forty two per cent employees stated that they changed jobs due to non co-operating and bad superiors, 34 per cent said that they had left their previous job as the organisation could not provide any further growth and remuneration; while uninteresting job profile, office politics and work environment were the other reasons cited for changing jobs.
Among those who participated in the online survey, 56 per cent claimed to have switched their jobs in the past and 10 per cent of those respondents claimed to have switched jobs more than four times. In a bid to attract good resource pool, Yellojobs.com has also introduced "YelloRewards", where people could earn cash rewards up to Rs 60 crore in total for simply referring jobs to friends from the site. Yellojobs.com has posted over 65,466 available positions in leading companies like Aricent, Avaya, Accenture, Blue Star, Bajaj, Britannia, Convergys, CSC, Crompton Greaves, Cadence, Fortis, Global Vantage, Genpact, HCL, Hewitt, Jindal, JCB, MaFoi, NDTV, Nestle, Oracle, Neilson, Vatika, Webex, Wipro and others, all of which have subscribed to Yellojobs.com. Sahaye added, "Companies are willing to pay a premium for getting good candidates.
Yellojobs.com allows companies to place their job openings for free, and in return offer a cash incentive, called YelloRewards, to those who recommend others succesfully. Yellojobs.com has over Rs 60 crores as YelloRewards, which people can get by recommending their friends for jobs."
For further information on Yellojobs.com, contact Aditya Kumar at email@example.com or call at 9311134444.
Web Site: http://yellojobs.com
Contact Details: A-27H, Sector-16, Noida, UP-201301, India