Startup plans in India with innovative ideas and revolutionary thoughts have been constantly marking their rising impact over the past few years. Despite offering lucrative opportunities to young talents, the attrition rate at startups is on the higher side. When the industry estimates are consistently going upwards, what is triggering people to leave such career growth opportunities?

What are the major factors behind the lower attrition rate?

In the research, we have found that most Indian techies have quit their job within two years. The current figures state that the Indian startups’ attrition rate lies between 50% and 80%. One of the biggest factors behind this constantly declining attrition rate is the thought process of fresh graduates. For these young talents, startups are just the medium to achieve bigger milestones. Those who’re sincere, gets disturbances by unexpected approaches and lack of appreciation followed by most of the startups.

Moreover, startups are constantly getting failed to mould the aspirants accordingly to the changing ecosystem. At the time of joining, freshers remain unaware of such a dynamic industrial approach and suddenly, they’ve been loaded with too much responsibility and pressure. In such pressure situations, they look for the options to go to a larger company where responsibilities can be shared with a team or group or have allowed enough time to complete specific projects.

In contrast, new graduates always have hunger for appreciation, perks and awards. Most of the startups failed to reward them handsomely. Even with a lack of funds, they do not have enough cash reserves to maintain regular salary cycles.

Another major factor that is promoting a lower attrition rate at startups is their talent mismatch approach. These firms usually hire aspirants in the short-term depending on the instant requirements for specific jobs. Due to a lack of thought process, unusual aspirants have been appointed to perform a different task for which he/she has not been trained. As a result, less desired candidates feel unable to provide the ideal performance and reflect their dissatisfaction with the job change.

What are the ways to lower the attrition rate?

To be a unicorn startup is the dream of every new organisation. Ant startup that reaches the valuation of $1 billion can be termed a unicorn. Being a unicorn is not so easy but there are numerous examples where new firms get surprise with their innovative approach and ideas. Their consistent growth rate has amazed everyone and every fresh talent in the country today would love to join such a leading startup and stay engaged for a long time for impressive career growth perspectives.

In India, there is a misconception among most startups. They seem to hesitate that once appointing the right talent, the entire job will be complete. Engaging them in the appropriate role is missing everywhere to decode the problem of high attrition. Let’s consider some major significant strategies which once applied at startups can change the entire game.

• Right Recruitment for the Right Job

Startups should mention the proper description of a job requirement including skills, experience, qualities, interview process etc. A clear-cut mention of everything that the job entails may provide great results.

• Provide Chances to show the potential

To engage employees with the company for a long-time, startups need to provide them more freedom and autonomy to do experimental things and show their potential and creativeness.

• Establish Trust and Ensure Job Security

• Ensure Basic Facilities

Employees prefer to stay for long where benefits like health insurance, allowances and other basic facilities have been provided like in any of the large corporate firms.

How Jaro Education is contributing to mastering entrepreneur skills?

The globally recognized EdTech company, Jaro Education, enhances students’ managerial skills to present successful business leaders to society. The organisation has recognized business management programmes that make individuals ready to face all types of critical entrepreneurial challenges. Such business professionals lead to numerous entrepreneurial success stories and inspire others to follow the same track of enormous growth.

By hiring these talents, startups can makeover their traditional business strategy which would lead to an influx of global investors. The company has successfully trained thousands of nourishing talents and has attributed to the growth of the nation’s startup capability. The success rate of their globally recognized Business Management Programs is enough to keep the rumors silent that relates to Jaro Education Fake. Aspirants need to follow authorized sources only to enquire more about the reputed organisation.