If one looks at the IT sector in India we have very high performing companies such as Infosys, TCS and Wipro who started the business from the home ground and are now the global leaders in their respective areas. On the other hand there are companies which were once considered to be the best in their class but slowly they deteriorated considerably to yield neither profitable bottom lines nor shareholder value. Infact these low performing companies were not even able to retain the best talent which hurt the productivity massively in the long term.
This article tries to answer the question as to what factors contribute to an individual's success in the organization. How an organization can make a difference in an individual and how an individual can make a difference to an organization. At the end of the day any associate as most of the IT companies call their employees as wants is the job satisfaction than any other thing in this IT industry.
Employee retention is one of the key objectives of the HR department in the IT industry. The primary objective of the HR in any company should be to ensure that the goals of the individual and the organization are always in tandem with each other. But there is a kind of change which is happening now.
It has been observed that HR plays a key role only in the beginning that is at the time of recruitment where in the candidates interview and other formalities happen. But soon the focus gets shifted towards deploying the new resource in some project without first doing a role fitment exercise. The role fitment exercise is very essential because it keeps in mind the interest of the associate, uses his skillset to the maximum extent and overall gives him a feeling of job satisfaction. At any point in time if the above requirements are not met, the resource while at job does not feel contended and a question always gets raised in his mind saying that "Can I do something better than this".
Money is one major factor in case of any job shift. It has been figured out that close to 80 % of the people move from a low performing company to a high performing company not because of the company itself but because the latter can pay almost double the package. The resource crunch in the industry is so high that it is not possible to retain a resource and pay a higher package than the industry standards. More often one has to reach a compromise in terms of the affordability of the resource and the value which can be derived out of him. This is a critical piece of analysis which can actually alter all kinds of calculations.
To be continued.