Posted 09/07/2016 in Category 1

E-commerce bubble burst? Retail companies see fall in attrition rate in India

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The number of people quitting brick and mortar retailers to join online rivals has come down significantly amid e-commerce firms consolidating operations and cutting costs, and many salespeople keen to move back to traditional retailers, say companies and hiring firms.

The attrition rate for sales executives which was as high as about 70-90% last year has almost halved to nearly 40-45% this year, they said. "Good incentives drew many frontline salespeople to startups Indian companies as delivery boys, a trend that picked up in 2013 and reached its peak two years ago," said Venkataramana B, president (HR) at Landmark Group that owns Lifestyle and Max chains.

"Now the bubble is bursting and they want to come back to a secure job." Human resource service provider TeamLease said nearly 10,000 delivery persons who had joined online companies are keen to shift back.

A recruiter who requested not to be identified said attrition rates in retail companies of major retailers are down to 40% this year from 60% about a year ago.

Source: Indian Business Directory listing, Indian retail companies

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