Stay with us, get an iPod free

May 14, 2007 The Workplace

We are in an age where attrition is a byword with employees ready to move on to the “next big thing”, be it for reasons of compensation, job profile, or simply the desire to do something different.

Even though companies are often seen to be fighting a losing battle, some of them, especially BPO’s, are trying to reverse this trend, and now actually have employees who have remained with them for five years and more, which is an eternity in the BPO industry.

I happened to read about a company that gifted their employees iPod’s for staying on for five years. Recognition (non-monetary), especially in front of all colleagues, does play a role in boosting the feel good factor, more so when on the flip side, such employees are sometimes heckled by existing or ex-colleagues and are often the butt of jokes for staying on so long. Most of it is good natured banter, but it can have a negative effect on a person’s mindset as well, forcing him/her to take a wrong career decision in the face of peer pressure.

Companies continue to try and retain their talent pool, whether it is doling out special incentive / bonus plans, holiday for the family, working from home, flexi-time, a creche in the office premises, movie tickets, passes to other cultural activities, having employee’s parents drop in, marriage/anniversary gifts, sponsoring higher education et al.