MM: No One Put Salary Above Security: June 4, 2007
NO ONE PUTS SALARY ABOVE SECURITY
– Radhakrishnan Pillai
(This weekly column will explore the relevance and application of Principles and Strategies of Chanakya as discussed in his 3rd Century BC treatise, Kautilyas Arthashastra, in Todays Corporate World)
I have once again decided to deal with the topic of attrition. Many are still surprised at the gigantic proportions this problem has taken. ALL organisations face attrition today.
Consultants are appointed, research is being conducted and news methods and strategies are being sought out to understand why people leave organisations!
The first reason that comes into the minds of people is that employees leave due to higher salaries offered. However, it is clearly seen that money or higher salaries alone cannot reduce the attrition rate.
Chanakya gives us a food for thought,
Even for a very large sum of money, no one would desire the loss of his life (8.3.35)
So what is it that makes people shift jobs or change companies? The answer is multifold.
THE IMMEDIATE BOSS
The saying goes very well, People dont leave the companies, they leave their bosses! Your immediate boss is reflection of the whole organisation. The Chairman may be the best of leader in the industry, but he may not be able to reach the last man in the organisation. The heads of department – the middle managers, the line mangers – all of them become a source and inspiration to the people working immediately below them. If this person is a good leader, people will be inspired to work. If it is the other way round even those in blue chip companies will quit jobs.
SALARY
Yes, this is important. You cannot keep your employees dedicated and faithful to the company on empty stomach. People need to earn good money and also grow in their incomes. Note that the high salary an employee is demanding is not automatically the right salary. The environment also plays a major role in the expenses of the individual. The cost of living in a particular place, the number of people who are dependent on his income, his lifestyle – all have an impact on determining of the salary expectations of the individual.
SECURITY
This factor is the top most in any employees mind. How does one define security? It has many aspects. Financial security, mental security and also a feel of being at the right place at the right time. The definition of security will also change from person to person and even from generation to generation.
I was conversing to a top management person of a multinational company who has spent over 25 years in the same firm despite better offers. When I tried to find the reason he explained, Ours is a human company. More than the salary, it was the fact that we always felt at home. Try to achieve this family-feeling in your organisation.
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