Well, picture this: Your company just hired a batch of fresh, young talent from top-notch Indian colleges, with an expectation that they will someday become the future leaders of your company. But, before you know it, they're off to greener pastures. The high attrition trend among freshers, especially Gen Z is real, and it's challenging for many companies in India. It also comes down to Gen Z attitudes because they are not ready to settle so easily and are less afraid to take risks. Let’s discuss what might not be working for your organisation, and what is causing high attrition with campus hires:
1. The Cookie-Cutter Syndrome
Imagine if every restaurant in your city offered the same food, same menu, same taste. Think of your campus hires in the same light. You are accessing a diverse database with unique talents and expectations, and high enthusiasm and energy. Companies often approach campus hiring with a one-size-fits-all approach. The result? Discontent and attrition.
In India, campus recruits are looking for a flavour that suits their palate. It is widely believed by these students that they do not want to work at “just another organisation”, and your organisation certainly is not “just another”, so why use outdated and years-old strategies? Shake things up! Create personalized development plans, spice up mentorship programs, and add a new zing to your benefits package. Embrace diversity and inclusivity to keep those dynamic minds engaged and you might end up being the “greener pasture” that every employee soughts out. Consider this as one of the reasons you might have high attrition with campus hires.
2. The Call of the Wild World
In a world filled with opportunities, and with new job opportunities at their fingertips it's not uncommon for campus hires to be enticed by the allure of adventure. This is one of the most common reasons for high attrition with campus hire they are looking for opportunities to grow, chances to learn and develop their professional career. They're always striving to do better and, are ready to explore the wild world of opportunities which includes higher education. One thing common amongst any hire you might have is a need for stability and reassurance of a stable and desirable future. And a fairly easy solution to this pertinent problem - a roadmap. Show your campus hires the path to stardom within your organization. Let them see the possibility of a long and fruitful journey, and let them grow and excel within your corporation.
3. The Salary Serenade
The most infamous and unaddressed reason of them all - Compensation. Addressing the issue of compensation is always a sensitive topic - so the key factor here is to handle it with maturity and transparency - your organisation has budgets and your candidate has expectations. It is natural for there to be some mismatch in expectations .
So, if you want to keep them from the call of the competition, make sure your remuneration package is at par. And no this doesn’t come down to just the figures in the paycheck - it’s the mentorship and training, seemingly small but impactful benefits and a good working atmosphere.
To sum it up, the high attrition with campus hires in India is a puzzle waiting to be solved by the best minds in the business. In this ever-changing corporate landscape, companies must adapt and keep up with the moves of their young talent. Engage, nurture, and keep them growing and grooving within your organisation.
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