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The industry players are trying out all
the tricks in the book to tie down their employees and keep
them locked in a safe. They have been offering excellent
infrastructure facilities in the form of ergonomically
designed work stations and spacious, air-conditioned
offices. They have been offering industry specific benefits
like 24/7 cafeterias and home pick-up and drop facilities
apart from regular benefits like retirals and loans at low
interest rates.
They have been arranging special weekend parties and
offering incentives like tickets to exclusive music shows
and dance parties. Some players are also sponsoring the
higher education of their employees. This is one of the best
ways of retaining a skilled employee for 2-3 years with a
company. |
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All this really goes well with a typical employee, who is in his early
twenties, fresh out of college and unmarried.The industry has been quite
benevolent on the compensation front as well. According to a Hewitt
Associates survey conducted last year, the highest salary increase in the
Asia Pacific region was in India.
Within the country, it was the ITES industry which recorded the highest
growth of 14%. The variable pay component varied in the range of 15-70%,
which is exhorbitant, to say the least.
All these measures are at the organizational level. At the industry level,
companies have tried to get into informal agreements with competitors to
avoid poaching. Though these agreements have no legal sanctity, they are
based on mutual faith of the companies.
For example, GE, HSBC, Nipuna, Microsoft, etc. informally agreed that they
would not recruit someone who has worked for less than a year with his
employer or someone who has switched 3 jobs in 2 years.
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