Next time you lose an employee, pay close attention to his boss! He may just be the reason behind him leaving the organisation. At a conference on Talent Retention, HR managers argued that the need is to ‘teach the boss’ - on ways on how to manage his subordinates and more importantly to be ‘liked’ by them. A study by IDC (India) on salary hike in the IT sector points out that while salaries have increased by over 18%, it does not correspond with a similar increase in employee satisfaction levels HCL Infosystems is positioned at 23 in salary rank but topped the charts on employee satisfaction levels. Similarly, TCS employees rank their company at No. 4 in terms of ‘satisfaction with salary’ with a rank of No. 13 in terms of hikes given. Infosys is ranked 12th for salary hikes but stands at 28th place in respect to satisfaction with salary.
The survey clearly points out that there is hardly any correlation between ‘salary levels’ and ‘satisfaction with salary.’ But even as companies are looking at ways to keep their ‘experienced’ workforce together, the key here is to train the boss, say HR managers.
“Bosses are not always good managers, which is the single most important reason for people leaving jobs. It’s important to provide training to bosses on how to manage their group. This can play a major role in building a strong, effective team,” says an HR expert.
There was less than 8% correlation between salary and satisfaction with salary. What it means is that companies who have their act together on employee satisfaction can manage a lower wage bill and still have happy employees.
Clearly for the HR, the biggest task ahead is to come up with innovative ways for retaining employees, nowadays companies are willing to go the extra mile for employee retention. MNC’s spending on ‘pampering employees’ has also increased from an average 8% to almost 17% of the cost to company (CTC).
By POST A RESUME (www.postaresume.co.in)
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