Introduction Infosys is the third largest Indian Multi National Company that provides Information Technology, Business Consulting, Software engineering and Outsourcing services. Infosys was founded in 1981 by Seven Software engineers with a capital of Rs.10000, turned to be the most reputed company with 160405 employees, earning billions of income, assets and equity in the three decades of glory. Though the success continues, Infosys suffers the lack of Employee Retention and so the high employee turnover ever of 18.7%. Infosys is undoubtedly one of the most respected IT companies in India has been showing remarkable results on revenue and income every year. No Indian IT company has a better “Job security” proven than Infosys. …show more content…
Each attrition follows with huge campus hiring and the cycle continues rather checking for the real organizational issue that are leading to attrition. Employee’s Voice – The unheard voice It is the dream of almost 85% of Indian engineers to work with Infosys, a place that provides the brand name and also the luxury facilities like saloon, spa, swimming pool, shopping area, gym, multiplex theatre and many indoor games at work place. A new employee will be too excited to enjoy the whole sophisticated life until he/she realizes that the actual need is still empty. When the dream comes to reality, the employee looks out for the basic needs and trashes the whole luxury facilities. Many ” Infoscians” (Infosys employee) are happy with the work culture and core values in the organization but the attrition continues. Every annual survey fails to restructure the same problem that is being raised by the employee in consecutive years, which was not heard by the managers and top leaders as they continue with their old fashioned management mantras. And it is the actual reason of junior-mid level exits – The compensation plan, the Basic pay. (Picture sourced from Missing MurthyGoutam Das and Chaitanya Kalbag, 2013) Salary plays a key role Salary plays a key role in the employee commitment.
From the information provided in the case we could notice that Invencibility System has used internal information to predict what specific employees are leaving the company. However, the firm has not created an incentive or reward program based on the data acquired in the research, for trying to maintain these employees inside of the company or even motivate them to stay as a part of the Invencibility systems group.
Working in today’s society has changed in the last few decades. The economy and technology are the main reasons for this change. The type of job and environment where one works has also changed. The fact that many people work from home via the internet has drastically changed the workforce and the environment surrounding it. With this change have come new demands, expectations, and opportunities for employers. Everyone deals with these demands differently, affecting the employee’s quality of life and job satisfaction. Though the job and office types and locations have changed over the years the need for job satisfaction has not. In today’s economy the job is not as stable as it used to be. One must be prepared for changes in the future.
At a time when many companies experience a difficult economic situation, they have to cut costs by laying off workers, and worse if your employees decided to leave for other competitors. Losing a talented worker is costly and to replace your top employee’s knowledge, experience and customer relationships is not something as simple as ones might think. So why do good employees quit? Even with high wages or great benefit, employees can still depart from the company if they do not get along well with their managers. So in order to keep good employees on board, the managers play an important role in knowing and matching their workers’ needs. In what follows, I going to analyze the case study: “Why are we losing all our good people?” which is about a fictional firm called “Sambian Partners”; what's really the reasons that is driving talented people out of the company and offering some solution to help Sambian stop the talent drain.
Many times people hired do not end up staying, leaving the organization understaffed and out the expense of the classes the employees received.
Company Y offers a good compensation package inclusive of direct and indirect financial compensation to its employees. However, we are of the view that to retain staff, the following measures could be implemented.
2005; Kovner, Brewer, Greene & Fairchild, 2009). Attrition rates for the first two years of
The East India Company was a British joint-stock company establish on the 31st of December, 1600 under the original name ‘The Company of Merchants of London trading into the East Indies.’ Over the next hundreds of years the Company set a sail attempting to find riches in trade on their journeys to these new lands. They found value in crops such as indigo, salt, cotton, silk, opium and other cash crops that the barren land of Europe lacked. This would be the company that would set sail to the land of India and dominate its soil from the middle of 1700’s to the middle of the 1800’s.
All over the globe retaining employees is a most critical factor for the organisations. High employee turnover is more common in private sector as compared to public. In construction industry, to reduce employee turnover and to improve the productivity of an organisation, organisations have to be aware of the reasons why an employees quit the organisation?. Employee turnover can be explained as the expenses, in term of money, time, and quality of work, that an organisation bear while replacing an employee. If an organisation fails to satisfy the needs of its employees then it is obvious that the employees will look forward to fulfill their necessities. This chapter discuss the reasons why employees quit their jobs.
a good employer. Hence the employee retention rate is very low. The purpose of this report is to propose a
Being a good employee is essential in today’s world, especially in these tough economic times when there are many seeking work. Consequently, it is important to keep in mind that no employee is irreplaceable. While hearing many complain these days about his or her job, one just needs to look around and be thankful that they have the means in which to survive and are able to work. There are many who are not only unemployed, but also unable to perform due to illness or a disability. Sometimes when a person is feeling in a mood to complain, they may need to sit back, relax and take a look around in order to appreciate what they have, and learn how to be a good employee.
The success of the company lies within its employees. With LB’s high volume of work, the employees are very dedicated to fulfill all the requirements and to
In today’s competitive workforce, compensation and benefit packages plays a crucial role on recruitment and retention for both the organization and the employee. Bumpbie finds itself in a situation where it could positively affect its employee’s morale, turnover rate and longevity; by making a strategic decision to implement compensation and benefit packages that will encourage current workers to stay and entice new applicants. Money is not always the inherent reason businesses experience high turnover rate, the constant shifting in the job market will always be a contributing factor as well as employee’s moral. Mayhew, R. (2016), explains that an “employee compensation plan” refers to all the components offered as well as the way in which they are paid, and the reason behind the employees getting the compensation case bonuses, salary increases and incentives. The fact that there are voluntary and mandatory benefits that organization provides to their employees give employees the freedom of choice, as well as the option to make the whether to stay with or leave an organization based on the benefits it provides. Variable Pay is also an option that some employers offer their employee which is performance based or results oriented. Whether it is profit sharing, merit based programs or incentive bonuses; it all comes down to which organization can provide employees with the compensation or benefits packages that best satisfy their needs.
Infosys should consider expanding its operation into other foreign markets and industries. As indicated in the article, Infosys gets over 70% of its revenue from the United States and the majority of its big clients (such as Goldman Sachs, Visa or JC Penny) come from various industries but all of them are very sensitive to changes in the US economy. In order for Infosys to not only maintain but also increase their sales growth in spite of the referenced economic downturn, Infosys has to expand its global account management system along with restructuring its strategic account management. First and foremost Infosys should build a reliable network of foreign intermediaries in Asia and
Infosys is an IT consulting company based in India but primarily doing business with North American firms looking to outsource their IT needs. With the rise of the popularity in this form of business between the United States and India, there have been several political factors in both countries that will affect the way Infosys does business. In the US, President Obama made outsourcing a hot topic of his campaign platform. With speeches such as “Say no to Bangalore, yes to Buffalo” he is looking to provide incentives to American companies to keep all of their jobs on American soil, close tax loopholes and eliminate breaks given to companies that outsource to firms such as Infosys. On the flip side though, the US government is also looking to change immigration policies to restrict H-1B visas that would have previously allowed foreign skilled technical workers to be brought in to the US on work visas. While they won’t be eliminating them, they are seeking to restrict them which would force Infosys to hire employees from the US for any work they would be doing in the country and restricting the available talent pool. Meanwhile, the government in India is making changes of their own, particularly with reforming the tax code. To encourage the growth of the Software and Technology fields the Indian government had established significant tax breaks which are now coming to an end. In addition, they have
The attempt to ensure emotional buy-in is evident in their effort to provide a self-sufficient work environment for their employees. Infosys inaugurated its facilities in Bangalore under the name of "Infosys City" in November 2000. Spread over 44.225 acres, it is claimed to be the largest software services campus in the world. It has the largest `video w all' in Asia which allows for video conferencing simultaneously from multiple centers. The