SMI has offered special marriage enhancements to its employees since inception.
As top Indian IT companies grapple with high attrition rates, some mid-level firms operating in the sector have cracked the code to retain the talent. A Madurai-based IT company has reportedly offered its employees free match-making services and a hike in salary if they get married.
As a result, the job loss rate for Shree Mookambika Infosolutions (SMI) has been relatively low. According to a report in times of India, the company has reported a 10 percent attrition rate for several years. It’s less than market leaders like Infosys and WiproThose who have reportedly faced attrition rates of over 20 per cent in the last quarter.
Today, SMI employs over 750 people, of whom about 40 percent have remained with the company for at least 5 years. The company was launched in 2006 in Sivakasi, Tamil Nadu. Gradually, it started expanding but hiring the right people became a challenge, so the management shifted its base to Madurai in 2010.
From the very beginning, SMI offered special wedding enhancements to its employees. Match making services followed. Soon, it started offering all its employees a fixed 6 per cent-8 per cent pay hike twice a year, the report said.
Last year, when attrition rates were hitting new highs across the sector, SMI doubled down on salary hikes, offering salary increases every quarter and special coverage for top-performing employees.
“There are many long term employees. We can’t take them thinking they won’t go anywhere. We give them their due, before they have any such idea. Employees contact me directly when they face any challenge, SMI founder MP Selvaganesh said.
click for more trending news