Have A Backup Plan To Fight Employee Attrition

Companies which have a very strong leadership team should have a backup plan to fight employee attrition. As in the case of Mindtree, after its Co-Founder Ashok Soota stepped down as the Executive Chairman and Member of the Board, there was a high attrition level as the he was said to have a lot of influence on the functioning and culture of the organization. The exits of Bhaskar Pramanik, Managing Director- India, Oracle, Ravi Venkatesan, Chairman, Microsoft India, and many such exits had a ripple effect on the employees as well as the industry. Hence, companies should have a backup plan to convince their employees that the new executive stepping in would bring in fresh ideas and take the organization to newer heights.