how to reduce attrition of employees in industries

It will be great if you can create an idea contest Mr.Bhaskar. And even there so many relevant items created on this platform. You can also go through them. 

http://toostep.com/debate/can-transparent-hr-practices-reduce-attrition

In my opinion no one can avoid the attrition rate completely in a company, we can only take measures to reduce the rate. Proper measures should be taken care of like facilitating the employees with all the needs required by them in doing their work effectively, maintaing good employee relations, resolving their issues and involving them in the TQM's and knowing their importance etc. Some people look for a change in company for monetary benifts, big companies, when they have problems with the boss, company and colleagues, work timings etc. A HR should try to sort out all these issues and try to maintain a good cordial relations with the employees for a common goal of company's growth.

give remedial measures which will retain and improve companies performances