| Pic: IndiaPicture |
TeamLease releases 12th survey in ‘India's New World of Work' series on ‘Impactful Exits'
TeamLease Services, a composite staffing company, released the findings of its latest survey ‘Impactful Exits' as part of its survey series to understand ‘India's new World of Work'.
The survey conducted across major cities revealed that a majority (92 per cent) of employees and managements across all industries followed exit policies very seriously. This went up to around 99 per cent in Bangalore and Chennai, establishing Gen Y's preferences for policies and processes at workplace along with a good pay packet. Another startling revelation made by the study was the importance of relieving letter. Apart from a mere eight per cent, majority of the companies expressed apprehension in formalising recruitment without the relieving letter.
Aimed at mapping in-depth facts about the beliefs and practices of Gen Y, the current study tries to capture the importance of exit policy and its impact on exit process. According to the study, better prospects and salary hike motivated employees to quit the incumbent organisation. However, one third (33 per cent) of the employees surveyed said they would re-join their organisation if given an opportunity.
Further, according to the study except for a minor eight per cent, majority of the companies' still favoured manual exit interviews over online, emphasising the reliance on face-to-face interactions. Also another startling disclosure was unlike the popular notion Silicon Valley of India still lagged behind in terms of adopting online exit interviews. Only a mere four per cent of the companies conducted exit interviews online in Bangalore. The study also highlighted the demand for longer notice period. Around 78 per cent of employees stressed on having longer notice periods for the company, helping the employees to complete pending work as well as the companies to contract the right candidate.
Apart from the sentiments of employees, viewpoints of HR managers from a company perspective have also been captured in the study. Though salary deduction is the norm for non-compliance, companies did not hold back from taking legal action in cases of violation of integrity. With more than half of the HR managers in Mumbai (55 per cent) using the feedback as a resource, the study has further reinforced Exit interviews as an important data source for formulating HR policies.
- Around 92 per cent of Indians across all industries and cities believe exit policies should be taken seriously and given lot of importance. Bangalore and Chennai with 99 per cent topped the list whereas employees in Mumbai did not care much
- A majority of around 76 per cent of the companies still conducted exit interviews manually only
- Better prospects and salary hike are the top two reasons for leaving the company.
- 23 per cent of companies surveyed said they do not proceed with employment due to unavailability of relieving letter
- Relieving letter is an important document while recruiting a new person for most of the companies across industries
- Overall, 78 per cent of employees surveyed feel that longer notice period (>30 days) is required for a company
- More than half (56 per cent) of HR managers opted for Salary deduction for not serving the required notice period
- Overall, 39 per cent of HR managers take legal action against errant employees who have violated any integrity or ethical boundaries
- Higher per cent of Mumbai employees has observed the change in behaviour from managers to resignee (17 per cent), from peers to resignee (9 per cent) as well as by resignee themselves (12 per cent)
- Resignee shows less responsibility and low interest towards work in their notice period
- Fixed factors related to job profile, compensation, work environment, company policies are captured by higher per cent of companies during the exit interviews as compared to variable factors which are more dependent on people (e.g. support and guidance provided by the managers, training, timely feedback, clarity of communication, etc.).
- Exit policy mainly helps in future decision and policy making for HR managers