By Madhurima Ghosh –
For IT companies, attrition is a major issue. Different companies come up with unique strategies to retain their employee strength. Majority of them offer yearly hikes so that their efficient employees do not resign. However a Madurai based IT Company named- Sri Mookambika Infosolutions came up with a bizarre solution to hold their talented workers. Along with regular hikes this company is offering an increment in the salary when an employee gets married. Not only that, the company is also providing free match making services for their employees.
Sri Mookambika Infosolutions (SMI), a privately held global technology solutions provider was founded in Sivakasi in 2006 and shifted to Madurai in 2010. Initially they faced difficulties hiring people as it was considered a Madurai based startup but with time their strength grew. Currently the company has a head count of 750 people and making annual revenue of around 100 crore inspite of being in a tier 2 city. CEO MP Selvaganesh told TOI that SMI provided special marriage increments since day one, but free matchmaking services to help employees find their better halves came in later. SMI offers 6-8% hike half yearly to all employees. In 2021 SMI even provided quarterly hikes to their top 40 or 80 employees. Company’s attrition rate has remained below 10 % for several years now in fact according to the CEO they have several long term employees.
When asked about the matchmaking service, Selvaganesh told TOI that since many of them are from villages lacking proper outlook of the world and have aged parents, these employees are unable find suitable match. So the company decided to help such employees find their spouses through network of alliance makers
About retainability, Selvaganesh said that the company never takes any employee for granted and provide them with a salary hike even before the thought of switching can appear to them. CEO has such a bond with his employees that they can reach out to him for any requirement. Everything is not observed only through business perspective at SMI.
He also added that the bottom performers are sacked so that the execution level is maintained. Voluntary attrition are mostly women who quit after marriage, but even considering that, attrition rate are still below 13 % for SMI, something that IT companies in tier 1 cities can only dream for, the CEO concluded.