Global Talent Metrics unveils India`s first comprehensive Attrition Study on employee preferences and factors impacting early attrition
Released on: July 3, 2008, 1:43 am
Press Release Author: PRHUB
Industry: Human Resources
Press Release Summary: Bangalore based Global Talent Metrics, a global leader in talent technology today formally unveiled key findings of India's first and most comprehensive research and survey on factors impacting employee attrition among white collar workers across industries. The research was developed and survey was conducted over the last 12 months and includes responses from 5000 employees of companies across industries.
Press Release Body: Chennai, July 3, 2008: Bangalore based Global Talent Metrics, a global leader in talent technology today formally unveiled key findings of India's first and most comprehensive research and survey on factors impacting employee attrition among white collar workers across industries. The research was developed and survey was conducted over the last 12 months and includes responses from 5000 employees of companies across industries. The survey for the first time probes the role of demographic, psychographic and sociological factors in predicting attrition and organizational factors that attract individuals or cause them to leave a company. The study is the first under the START (System for Talent Attraction & Retention) Research series and was carried out in partnership with IIM-Bangalore & AlignMark Inc., a US-based pioneer and leading tools and services provider for optimizing human capital resources. Global Talent Metrics will present the report at the NASSCOM HR Summit in Chennai on July 3rd and 4th. On the occasion, the company announced the introduction of its pioneering tool STARSELECT T 1.0 in the Indian market which gives recruiters the ability to identify early attrition risk candidates. The research, data set and findings has been extensively used to customize the tool for the Indian market. Talking of the survey and the newly launched tool, Dr Cabot Jaffee, Chairman, Global Talent Metrics, said, "The challenge of attrition though not unique to India is unique and intense in a manner not seen in other markets across the world. This makes it imperative
that any knowledge or psychometric tool in this area be locally validated. We are committed to investing in R&D that will help companies improve how they source and select their talent. StarSelect will allow companies reduce the cost and loss of managerial productivity associated with candidates not starting post offer or leaving within the first 6-9 months".
Formally unveiling the report, Ranjan Sinha, Founder & Chairman, Summit HR Worldwide said, "While there is abundant data on levels and rate of attrition there has been no comprehensive study on the causative factors behind this critical business challenge. Lack of data meant absence of structured approaches to predicting and addressing attrition. This report provides validated insights on the triggers for early attrition that is relevant in the local context and one that can be studied with reference to individual organizations. The STARSELECT tool is a great tool in predicting early attrition and unique in the sense that it can be customized and can be interpreted by practicing managers without the intervention of trained psychologists. As the strategic partners to Global Talent Metrics, we leveraged this tool successfully while providing solutions to our existing customer"
Explaining the methodology adopted and other details of the survey, Dr. Vasanthi Srinivasan, Professor IIM-Bangalore, said, "This survey is robust as it has utilized primary research, focus groups and structured interviews in order to obtain greater understanding of the challenging and costly issue of employee attrition. The purpose was to explore and validate individual factors, i.e. psychological, demographical and sociological and organizational factors and their influence on employee attrition and retention in the IT and BPO industries in India."
About the GTM STAR employee attrition survey: The employee attrition survey was put together based on 5000 responses from professionals across the country and layered with personal interviews and focus groups with 626 CXOs, Vice presidents, HR executives and Line managers and white collar professionals from companies like Infosys, Oracle, Cambridge Solutions Asia, Zenta Systems, Logica CMG, WNS, KLA Tencor Corporation, Cambridge Technology. Conventional statistical methods were used to determine if observed factors leading to attrition were statistically significant.
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