Over 2 Lakh Employees Left in Last 1 year From These IT Companies
India’s IT sector has been dealing with an all-time high attrition rate over the last few quarters.
Amid the rising attrition, IT companies are also fighting with issues such as moonlighting, shortage of digital talent, rising demand for tech talent, & increased compensation.
Tata Consultancy Services (TCS), Infosys, and Wipro – the top three IT Companies in India have raised their net hirings to over
in the first quarter.
Over 68000 employees have left the organizations in the first quarter of the financial year
And a total of over 2 Lakh employees left in the last 1-year from these IT companies.
TCS CEO said after the quarterly results announcement in July 2022, “The firm’s attrition rate has not come down yet, but might do so in the coming quarters.”
On an absolute basis, it (attrition rate) is continuing to increase though on a percentage basis it is starting to flatten and that may continue into part of Q2 also.
Attrition is the biggest challenge in IT Industry as of now, consequently, these major IT companies have chalked out plans to prevent the
The major IT players are taking steps such as mid-term hikes, promotions, bonuses, etc to avert the attrition crisis.