HR Department as Profit-centres

I read a topic about ICICI bank's HR Department is running as a profit centre with a entirely new approach.

The concept is as following:

A very clear and nearly 85 % accurate forecast on the recruitment related information and other HR programmes made this thing possible.

The department focuses on forecasting the attrition in the upcoming months based upon the historical data, the current market scenario, i.e., the type of candidates chosen by the competitors, the strategy adapted by the competitors, etc.

The forecasting of attrition and the recruitment planning based upon the forecast saves the company's money by reducing the "Benching" costs of the recruits.

Instead, with the limited and the actually required volume of recruits would pitch-in for induction which is better than benching and also productive.

Industry analysts estimate that this could amount to a saving of over Rs 100 crore a year.