Reducing Staff Attrition: A presentation by QAI http://www.qaiglobal.com

1. Reducing Staff
Attrition
A presentation by
QAI
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2. Innovation Case Study: Reducing Staff Attrition for BFSI company
Innovation Case Study: Reducing Staff Attrition
Objective: To reduce the staff attrition
Process: Human Resource Management
Organization and Industry: Banking, Financial Services, Insurance (BFSI)
Case Background: A Fortune-50 organization in the BFSI space wanted to identify the drivers of staff
attrition and bring down the value significantly.
Challenges facing the organization
Staff attrition leads to incurring an expense in ramp up of new resources as well as the loss in productivity
and knowledge of the organization in the long run
While the organization had adopted six sigma framework through QAI, the conventional tools of six sigma
were found to be inadequate in providing answers to the complex situation. The annualized staff attrition
was at 84% at the start of the project and management wanted a fresh perspective to the problem.
Project Success criteria defined by Management
Management was exploring a structured approach to innovation that was low on complexity without
compromising the rigor and effectiveness.
The following criteria were defined for evaluation of the ideas
1. Structured approach towards identifying the vital few parameters of importance to the customer
2. Cost of implementation should be low
3. Ease of Implementation
4. Maintainability in the long run should be easy
QAI’s Consulting Approach
The project was executed in the three phases shown in the figure.
Confidential ©2008 QAI Global 1

3. Innovation Case Study: Reducing Staff Attrition for BFSI company
1. Information Gathering
a) The primary objective of Information
Gathering phase is to
1. Understand the Main
Parameters of Value from a
customer perspective
i. Main Parameters of
Value (MPV) are those attributes for product or service that will have the
greatest significance in the customers purchasing decision.
ii. Innovation requires a precise understanding of value: the who, what, when,
where, how, and why of the customer’s need. It then means getting that value
to them without complexity creeping in.
2. Study the solutions proffered by the industry to satisfy those parameters by doing prior
art search and
3. Obtain insights into the under-served opportunities.
For the Staff attrition reduction project the information gathering was carried out at different
levels
1. Collation of voice of management including
senior management
2. Information on the current situation as
obtained from the Innovation Situation
Questionnaire
3. Data of staff who have left the organization
and those who have not
4. Focus Group Discussions covering target employees using tools of Innovation.
2. Analysis
a) The primary objective of Analysis is to obtain insights from the Information Gathering
phase on under-served Main Parameters of Value.
Confidential ©2008 QAI Global 2

4. Innovation Case Study: Reducing Staff Attrition for BFSI company
b) It further involves a rigorous analysis of the process to determine the opportunities for
improvement in service delivery.
Summary for Good MD - CMB
Anderson-Darling Normality Test Main Effects Plot (data means) for Signal to Noise Ratio - CMB
A-S quaredP-V alue 0.600.114
c) QAI’s team made use of advanced
Satisfaction with work content Jo b ch allen gin g en o ug h Recog and Rewards by Superv. Relatio n ship with Su perv iso r
-1
Mean 0.98529
-3
StD evVariance 0.340290.11580
Skewness -0.229223 -5
Kurtosis -0.824298 -1 -1 -1 -1
N 68
multi-variate analysis to identify the
-1 Op p ortu nity fo r person al d ev an Opportunities for career enhanc Trng ad eq uate to perfo rm job C omp en & b en efits v s. in d ustry
Minimum 1st Quartile 0.238570.74992
-3
Median 3rd Quartile 0.974871.30145
-5
0.3 0.6 0.9 1.2 1.5 Maximum 1.55375 -1 -1 -1 -1
95% Confidence Interv al for M ean
vital few factors and their percentage
-1 C omp en con sisten t with p erf Excessiv e wo rklo ad C o. in fo received fro m sen iors Foo d Facility
0.90293 1.06766
95% Confidence Interval for Median -3
0.88040 1.10985 -5
-1 Tran spo rt Facility -1 -1 -1
95% Confidence Intervals 95% Confidence Interv al for S tDev
-1
0.29116 0.40953
impact on staff attrition. The sample
Mean
-3
Median
-5 -1
0.90 0.95 1.00 1.05 1.10
output of the exercise is shown in the images.
3. Concept Development
a) 67 Improvement projects were initiated
including 4 six sigma Green Belt projects.
b) Secondary problems identified were resolved
using principles of innovation
4. Deployment of the recommended changes
a) The implementation of solution directions was
monitored over a period of 4 months.
Benefits Obtained
Evaluation Parameter Before After
Annualized Staff Attrition 84% 42%
Annualized Saving on account of reduction in Staff Attrition - $900,000
Confidential ©2008 QAI Global 3

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