The Marketing head, said that retaining employees with lures can have adverse affect on the industry. “This could lead to a very foul trend in the industry where there is already a dearth of good talent. High demands and uncontrolled environments would emerge causing a lot of manpower issues as would have not even thought of in existence”.
Sharing his views on same topic, Jay Gupta, the Loot store Managing Director, said, “India is the largest consumer market. Standard of living and purchasing power of customer has improved since past few years. Organised retail is showing hyper growth. All big business houses in the country as well as the largest retailers of the world are concentrating on India. As a result there is a demand-supply gap of skilled staff”.
Jay Gupta also commented that since the system of bonds or contracts does not prevail in India, employees tend to change the job. But higher attrition rates cannot affect overall retail industry but individual retailers may face temporary hiccups.
On a happier note, there are handful of companies who can boast of low attrition rate like Pantaloon Retail (India) Limited.
A company official informed that although industry attrition rate is 30 percent, Pantaloon has only eight percent, which is not very high.
Experts anticipate, the problem of attrition may get worse as organised retail is booming and likely to get a fillip from current $12 billion to $239 billion by 2015.
-Ltd..jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Thermore (Far East) Ltd.")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Telangana State Industrial Infrastructure Corporation Limited (TSllC Ltd)")
.jpg?tr=w-120,h-60,c-at_max,cm-pad_resize,bg-ffffff "Taiwan Textile Federation (TTF)")
