'Clear career path, competitive pay can contain attrition'

The best way to arrest high attrition is by bringing in empowerment for employees, creating clarity in career paths and adoption of 'competitive pay' structure, a survey says.
According to the survey by Executive Access Research Group on 'Culture and its impact at work place', major factors that keep attrition under check in both services and industrial sector are 'empowerment and independence'.
As per the survey, 42 per cent respondents believe that the best way to arrest high attrition is by bringing in empowerment and independence for employees.
Creating clarity in the roles and career paths of employees comes a close second while 'competitive pay' at 10 per cent is the least influential factor.

"The element of job security is crucial and it supersedes all other factors that contribute to an employee's reason to continue in a company," Executive Access Managing Director Ronesh Puri said.
The survey further said a company that can successfully build and maintain a productive workplace can have an edge over companies that do not pay attention to office culture.

"The impact of culture, whether positive or negative, is felt in all aspects of an organisation as it simply determines the way people act," Puri added.
Regarding the services sector, the survey said that the need for customised solutions and ideas is the need of the hour and a run of the mill approach is a potent impediment to this sector.

"Having the freedom to ideate and partner with a customer to provide efficient services is still the main motivating factor for employees of this sector," Puri said.