An IT firm based out of Madurai, Tamil Nadu has come up with a different retention plan. Sri Mookambika Infosolutions (SMI) offers a special appraisal scheme to its employees to help in finding a spouse.
Attrition has become a rising issue and companies are making different strategies to retain employees. Women migrate due to marriage and men migrate for work. SMI has come up with its out-of-the-box retention strategy.
The companies are now going beyond with standard retention scheme of pay packages and perks to attract the talent.
SMI is offering standard appraisals at set intervals but also matchmaking services for employees and special increments in the salary on the marriage of employees.
MP Selvaganesh CEO, SMI told the Times of India, “They treat me like a brother and several of them are from villages, with either aged parents or lacking a proper outlook of the world and unable to find the right match.”
He added, “We help such employees through a network of ‘alliance makers.’” The company
The company was founded in Sivakasi in 2006 and then shifted to Madurai in 2010. The free matchmaking service to help employees get married was brought on later. The company gives two hikes of 6-8 percent to its employees each year
Also, the matchmaking service is offered to many of the employees coming from villages and not being able to find the right person for marriage.
This is one way to keep employees retained from moving away to seek better prospects—both professionally and personally.
The company earned gross annual revenue of nearly Rs 100 crore. It 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.
