Attrition is a real issue and companies go to great lengths to make strategies to retain employees. An IT firm based out of Madurai in Tamil Nadu has come up with its own unusual retention plan. One which doesn’t just offer standard appraisals at set intervals but also matchmaking services for employees and special increments in the salary on the marriage of employees.
Private technology solutions provider SMI or Sri Mookambika Infosolutions is the company that offers this special appraisal scheme to its employees along with help in finding a spouse, as per a Times of India report.
Founded in Sivakasi in 2006 and based out of Madurai since 2010, SMI has had a special marriage increment in its employee policy from day one, founder and CEO MP Selvaganesh told TOI. The free matchmaking service to help employees get married was brought on later.
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The company which brings in revenue of nearly Rs 100 crore today has around 750 people on its payroll and has been successful in attracting and retaining talent despite being in a Tier-2 city compares to most other tech firms in the state that choose Chennai as their base.
The company reportedly gives two hikes to its employees each year to the tune of 6-8 percent. Above this, the matchmaking service is offered with many of the employees coming from villages and not being able to find the right person for marriage. This is where SMI comes into the picture with its out-of-the-box retention strategy.
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