Employee benefits (For Employee satisfaction & to stop Attrition)
Before proceeding further, Lets see why people are leaving? Why there is high attrition rate. When there are so many benefits associated with BPO & IT industry…. when there are so many privileges for the BPO & IT employees than what makes them to change the company/industry?? Is it only MONEY that matters or anything else as well?? After taking exit-interviews and analyzing the trend I am able to list out following reasons for BPO & IT professional to change his/her job.
No growth opportunity/lack of promotion For higher Salary For Higher education Misguidance by the company Policies and procedures are not conducive No personal life Not flexible work hours
Physical strains Uneasy relationship with peers or managers
Let’s also see as what are the various benefits…that have been extended to people working in this sector. Employee Benefits Provided By Majority Of the BPO & IT Companies below is a list of benefits…
1. Medical benefits
2. Personal Accident Insurance Scheme
3. Personal Health Care (Regular medical check-ups)
4. Subsidized Food and Transportation
5. Company Leased Accommodation
6. Recreation, Cafeteria, ATM and Concierge facilities
7. Corporate Credit Card
8. Cellular Phone / Laptop
9. Loans
10. Educational Benefits
11. Performance based incentives
12. Awards & Rewards
13. Flexi-time
14. Flexible Salary Benefits
15. Regular Get together and other cultural programs
16. Wedding Day & Birthday Gifts
17. Employee Referral Scheme
18. Employee Stock Option Plan
19. Provident Fund and Employees Pension
20. Employee State Insurance Corporation
21. Bonus
22. Gratuity
23. Car/ Vehicle Scheme
24. LTA
25. Leave encashment
26. Superannuation & retirement & Voluntary Retirement Service/ Scheme
27. Paid leaves (Sick leaves/ Maternity Leaves…) Club memberships
