The objectives of the study was to find out Impact of Employee Attrition on People Management, the reasons about employee attrition, layoffs, mismatch between demand and supply and finally to develop ideas to manage talent. The paper highlights the topic in review of literature and analyzing the same. It also gives out the reasons for above framed objectives. How organization can retain talent, steps they can take and try to avoid attrition. The paper is compiled by collecting secondary data.
This term paper consists of:-
1. Abstract
2. Background of the study
3. Review of literature
4. Objectives of the study
5. Introduction to the paper
6. Reasons for attrition
7. Associated cost with high attrition
8. Mismatch between labour supply and demand
- Demographic Constraints
- Existing Educational System
- Cost factor
- Poaching
9. Associated cost with mismatch
10. Layoffs; reasons
11. Associated cost with layoffs
12. Relationship between workers characteristics with job satisfaction
13. Importance of talent management
- Globalization
- Increased competition
- Increased knowledge
14. Benefits of talent management
- Organizational benefits
- Employee benefits
15. How does organization effectively manage the talent
- Hire the right people
- Keep the promises
- Good working environment
- Recognition of merit
- Providing learning opportunities
- Shielding the work pressure
16. Suggestions
17. Conclusion
18. References
Highly demanding business environment makes it imperative for the organizations to build competence in the form of superior intellectual capital. It is agreed by almost all CEOs of big companies that it is the human resource - a talented one - that can provide them competitiveness in the long run.