Core Factors Adjudicating the Negative Attrition Rate of Human Capital in A Business Organization
In today’s viciously competitive business scenario, success majorly depends much on the retention of human capitals and honing their abilities further. In a knowledge-driven competitive economy like today, it is the people and the human capitals who are emerging as key competitive differentiators of the business organizations, and retaining them has become a matter of paramount importance. But soaring attrition rates across the businesses are hindering the overwrought HR manager’s ability to transpire out with viable and prominent retention strategies. Attrition is going to stay and is not an exiguous concern for the organizations anymore. The magic to lower attrition rates lies in having sound and effective HR practices in place that can effectively combat the causes and the deep reasons for attrition. This research paper would provide an insight into the various issues surrounding the reasons for attrition and the factors determining or contributing to the increase of Job Satisfaction among the human capitals in a business organization. Acquiring skilled human capitals in an organization is not just enough in today’s dynamic and competitive scenario; instead, a plethora of changes needs to be done to retain them. Losing knowledgeable, valuable and trained human capitals can cause major damage to the company’s dynamics, progress, and performance in the market.