The retention level of Indian organisations is weaker than their global peers, as 35 percent of Indian workforce have a tenure of less than two years. According to the PwC Saratoga India survey, globally retention level in the western region is fairly strong, as just 15 percent of workforce have a tenure of less than two years, while for the Asia Pacific region it stood at 30 percent, still better than India.
Sector wise, banking and ITeS companies witnessed the highest voluntary employee turnover with the employee resignation rate in banks being 2.9 times more than that for engineering and manufacturing organisations. Meanwhile, to step up their retention levels, organisations have stepped up their learning and development efforts as well as ensured new hires became productive early.
Source: The Economic Times