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Employee outgo drops to 8-9%

Hyderabad June 6 LG, the consumer and electronics major, has put in place a strategy that is helping it bring down attrition rates. In the last six months, the employee outgo has dropped to around 8-9 per cent.

Earlier, the South Korean Conglomerate's 3,000-strong India employee operations had an attrition rate of 12-13 per cent. Even this was `very healthy' compared to the industry average of about 25 per cent in the country, according to Dr Yasho V. Verma, Director (Human Resources & Management Support), LG Electronics India.

One of the major features of the strategy was empowerment. This was through decentralisation of power, or giving more decision making powers to employees at different levels. In this way, more people become part of the company growth story, he told Business Line here.

Regular training, welfare measures, based on continuous feedback from staff and their families, salary and travel incentives based on performance etc have been streamlined to the advantage of the employees, Dr Verma, a member of the Core team of LG from 1997, said.

Culture survey

In the past 7-8 years, LG in India has conducted a `Culture Survey', across various levels of its staff to get a reasonable understanding of the aspirations and needs. "We have started working on the KDI — Key DNA Index, which gives an idea of what the staff is looking forward to and the interventions that the company can make," Dr Yasho Verma said.

Get-togethers

Based on the findings over the years, the company now is implementing monthly family get-togethers, forced holidays for employees and is constantly interacting both with the staff and family to understand their changing needs.

"The present demand of a large number of younger employees seems to be to go on a holiday, where there is no connectivity. They just want to unwind, splurge and get back," said Mr Prashant K. Das, Regional Manager, South of LG Electronics India, based in Hyderabad.

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