Research Paper on the Attrition Rate in Financial Shared Services Organization
ENG502M
Second Trimester, AY 2010-2011
RESEARCH PAPER ON THE ATTRITION RATE
IN FINANCIAL SHARED SERVICES ORGANIZATION
Submitted To:
Prof. Maria Cequena
Submitted By:
Rachel Reyes
Title: Attrition Rate in Financial Shared Services Organization 1. What are the factors affecting the high attrition rate in shared services organization (SSO)? 2. What are the impacts of the increasing attrition rate in SSO? 3. How should shared services organization address the high attrition rate common in the industry to maintain employee retention? Attrition rate has been a common problem faced by the shared services industry. The increase in attrition rate among these companies could be alarming with the sustainability of offshore services in the Philippines. This research paper will identify the factors that cause the rise in attrition rate of shared services industry. Factors determined such as management/superior, compensation and benefits, career and personal growth are some common causes of attrition rate in a certain organization. These aspects shall be proven if are deemed applicable in Philippine shared services industry in the course of the study. This comprehensive study will focus only on the attrition of Philippine shared services particularly of the financial services such as Citibank, Deutsche and JP Morgan. Its purpose is to evaluate the factors that may hinder employee retention and its impact on management and the company as well. Lastly, after determining and testing the common causes of attrition rate, suggested ways on improving employee retention will be presented in order to help address the problem.
CHAPTER 1: THE PROBLEM AND BACKGROUND OF THE STUDY
I. Introduction The 21st century highlights the growth of technology. Development of technology paved the way for the different inventions of cellphone, ipod, ipad, among others. Technology also opened opportunities for the rise of outsourcing companies. Multinational companies
Second Trimester, AY 2010-2011
RESEARCH PAPER ON THE ATTRITION RATE
IN FINANCIAL SHARED SERVICES ORGANIZATION
Submitted To:
Prof. Maria Cequena
Submitted By:
Rachel Reyes
Title: Attrition Rate in Financial Shared Services Organization 1. What are the factors affecting the high attrition rate in shared services organization (SSO)? 2. What are the impacts of the increasing attrition rate in SSO? 3. How should shared services organization address the high attrition rate common in the industry to maintain employee retention? Attrition rate has been a common problem faced by the shared services industry. The increase in attrition rate among these companies could be alarming with the sustainability of offshore services in the Philippines. This research paper will identify the factors that cause the rise in attrition rate of shared services industry. Factors determined such as management/superior, compensation and benefits, career and personal growth are some common causes of attrition rate in a certain organization. These aspects shall be proven if are deemed applicable in Philippine shared services industry in the course of the study. This comprehensive study will focus only on the attrition of Philippine shared services particularly of the financial services such as Citibank, Deutsche and JP Morgan. Its purpose is to evaluate the factors that may hinder employee retention and its impact on management and the company as well. Lastly, after determining and testing the common causes of attrition rate, suggested ways on improving employee retention will be presented in order to help address the problem.
CHAPTER 1: THE PROBLEM AND BACKGROUND OF THE STUDY
I. Introduction The 21st century highlights the growth of technology. Development of technology paved the way for the different inventions of cellphone, ipod, ipad, among others. Technology also opened opportunities for the rise of outsourcing companies. Multinational companies