![]() “There’s a lot of effort around compensation measures which of course is pretty critical … and just continue to support employees by celebrating success and giving them career path potential, which of course, growth does,” said Humphries in an ET report. In February, Cognizant Technology Solutions CEO Brian Humphries said the company was putting in a lot of effort around ‘hearts and minds’ to mitigate attrition levels which were at 31% for the September-December 2021 quarter and 28% for the 12-month period, higher than the attrition reported by its Indian peers like Infosys (25.5%) and Tech Mahindra (24%). “At Simplilearn, along with salary and perks, we also offer employees career-planning sessions and proper growth charts to enable new growth avenues,” said Krishna Kumar, its founder and CEO. Simplilearn announced its first ESOP programme for employees last year. We continually review and expand the ESOP pool to motivate and energise talent that is delivering value,” said founder Saahil Goel. As an employer, attrition is important to understand because it can decrease labor costs without incorporating staff. The calculation will demonstrate that for 2020, the company recorded a 10 employee attrition rate since it is now left with 90 employees. A stratified approach to joining and retention bonuses and performance-linked variable pay exists across the board. To calculate the employee attrition rate, divide 10 by 100. “We have used equity compensation plans strategically to incentivise and retain top talent/senior leaders. ![]() Plus, a significant number of promotions, role enlargements and expansions ensured bigger responsibilities and business exposure to this set of talent pool. Shiprocket has this year handed out a 14.5% increment for top critical talent. ![]() Right now, it’s virtual but they have the opportunity to move there once the situation is under control. “We are offering global rotations for really high-potential employees they have the opportunity to go work in our offices in Mexico City, Shanghai and the US. “To provide liquidity to employees, we did a buyback of around Rs 200 crore in February for employees who are 75-100% vested,” said CEO Ashwin Damera.Įruditus’ voluntary attrition stands at 10-12%, said Damera, who attributed the lower-than-industry rate to the unique retention approach. Let’s say at the end of the year you had 500 employees in your organization. You then multiply that figure by 100 to present it as a percentage. With talent taking flight and attrition expected to intensify, companies are gearing up.Įdtech unicorn Eruditus has accelerated giving stock options to tenured employees as well as high-potential new joiners. To calculate the attrition rate, take the number of people who have left your company (or team) and divide it by the average number of employees over a period of time. “The past trend in attrition, salary increase and job growth has been that all the three go down during a crisis, followed by over-compensation over a couple of years, and eventually normalising into a steady state,” said Anil Koul, director – HR consulting at Omam Consultants.
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