Symphony Services:  Bonus Of Rs. 1 Lakh To Stay
By Kedar in Bangalore

The war of talent has always been fought, but not on a footing such as this. Recruitment and attrition continue to remain the biggest pain areas for most companies. IRI, the market analytics division of Symphony Services, recently lost a lot of folks to several companies. With every Team Leader or Manager walking out, a loyal group followed. The company tried just about everything to stop people from leaving. Huge retention bonuses, the lure of overseas assignments, better designations, more pay, to even good old blackmail. The exodus continued.

In a desperate attempt, the company decided to open its doors to former employees and targeted a few TLs who had left, hoping that the loyal following would return too. While the company has succeeded in luring Navin * and Sunil * with better positions and pay, none of the others who left at junior and senior levels is interested in returning. Better work and perks such as flex time seem to be more important than pay. A stay bonus of Rs. 1 lakh for anyone staying until January 2008, or Outstanding Contribution Awards of Rs. 50000 for just about everyone in the company are not elements that make a place wonderful to work in. And the thought of returning to a company where your boss marks your attendance at start time isn’t exactly the most appealing. In fact, more people are quitting now as they feel that the only way to grow would be to leave, or to leave and then return. But at a recent ‘Town Hall’, the HR communicated to everyone that “they are the best company in the world in analytics and people better stay because EVERYONE who left is coming back”.

India has a shortage of good employees in a few segments, and a number of companies are facing problems with attrition.  Did the HR department not know that employees rely on the grapevine more than on company wide announcements? Once employees see what lies on the other side, money alone will not get them to return. It is about time that HR folks at Symphony Services formulate good foolhardy retention policies on a long term basis.

(*Names changed to protect their identities)