Simplilearn.com, an e-commerce company which provides professional certification opportunities has an attrition rate of 18%. It had witnessed that 15% of the employees use to quit Simplilearn to start their own venture but rarely could they be successful in their ventures. Hence the organisation came up with an idea of setting up an incubation center, where the employees with an entrepreneurial spirit will get an opportunity on work on their idea and at the same time get mentored within the organisation. Every year during February and August, four ideas will be screened, selected and converted into product or service within 90 days. Simplilearn will invest up to Rs.30 lacs into each team to execute and transform the idea into reality.
Organisation such as Google has a best practice allowing their employees to work 20% of their time on the project of their choice. In fact Gmail and Google News is an outcome of such best practice.