Bangalore: Attrition rates are at an all time high in India and around the world. Take any 5 employees in a company in India, chances are by the end of the year nearly two or sometimes even three will quit the company and join a new organization in search of a better pay or a higher designation. This is forcing organizations to come with innovative strategies that can help them curb the loss of valuable talent. Be it the increased emphasis on work-life balance or the greater focus on teams rather than individuals, business organization the world over are going for extreme measures to attract and retain talent, reports Namrata Singh of TNN.

Organizations have realized that a decade down the line, irrespective of whether the  attrition rates are in single digit or double digit, a large chunk of the workforce would fall in the ‘new employee’ bracket, while the percentage of older, much experienced employees would shrink and become small. Managing communications and team dynamics in such a situation would be a serious challenge. Thus it has become essential for organizations to focus on team building, which would reduce the difficulties in such transition.

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