Uday Salunkhe states that corporate are thinking of retaining due to lack of trained manpower in all industries and sectors.
The rate of attrition of skilled employees in IIT, ITES, Banking and Finance and insurance sectors is rising. In other sectors, this trend is catching up. Dr. Salunkhe points out that these issues occur due to the availability of lucrative options for career growth, attractive pay packages, better relations and stress-free working environment.
“Today’s youth will quit their jobs because they want to earn more and keep up with the fasttrack lifestyle,” he adds. In addition to these, there is serious disagreements with seniors and disconnect with peers.
Companies build up their human resources for good times as well as bad. The idea is to stay better prepared to face challenges of attrition and retention.
For several reasons, it is always best to invest in employee training. Companies must help employees identify their skill sets and develop them.
“Training and retraining saves time and is cost effective as it helps the company to retain a competitive edge, boost employee morale and lead to growth,” says Dr. Uday Salunkhe.
A multiskilled employee can be very effective contributor to the work output of several traditional training disciplines. It reduces labor cost, improves productivity and turnover.
“Having multi-skilled workforce is a necessity in today’s era of specialization. Corporates rehire people returning from school or other industry with improved knowledge and skill sets,” concludes Dr Uday Salunkhe.