![]() ![]() Experts in artificial intelligence, machine learning, cloud computing, big data, and automation are in high demand, as are data scientists, cybersecurity authorities, and cloud engineers. ![]() Indian IT companies are looking to develop fresh revenue models based on user data and transactions to expand their operations in response to the pandemic. Due to the migration of workforces online since December, the bottom lines of IT companies have improved. The high attrition rate is a reflection of the great market demand. Leading Indian IT companies are experiencing their highest-ever turnover rates right now, as a result, the tech industry giants are having trouble completing projects. In September last year, the average attrition rate in the IT business was 8.67%, according to a survey by TeamLease, a provider of HR solutions. Many professionals are leaving traditional IT firms for startups with faster growth opportunities and competitive salaries. Furthermore, companies are offering huge raises to retain talent. From entry-level IT professionals to mid- and senior-level executives, the IT tech space is bursting at the seams right now. As per him, the company remains focused on building world-class talent and on ensuring that growth isn’t constrained.Īlso Read: This Company Is Allowing All Its Employees To Work From Abroad For 6 Weeks Every Yearįor more of such interesting financial content, click here.The rapid digitization in the aftermath of the pandemic has increased the demand for IT professionals. Wipro CEO said that the company is expected to hire a total of 17,000 freshers in FY2022 and is targeting 25,000-30,000 next year. TCS is expected to likely hire more in this last quarter of FY2021-22. TCS, which hired 43,000 freshers in the first half of fiscal 2022, said in the third quarter itself it hired 34,000 freshers which were otherwise planned for the entire second half. Infosys CFO reportedly said that the company continues to prioritize investments in talent acquisition and development, and have further increased our global graduate hiring programme to over 55,000 for FY22 to support our growth ambitions. Īnd the other IT giant Wipro's attrition rate too, rose to 22.7%, up from the rate of 20.5% in the second quarter.Īs per Wipro, the rate is in line with expectations, and it is putting in place measures such as promotions and role-based bonuses, besides building up its fresher pipeline in this remaining quarter of FY2021-22 as well as next FY2022-23, in order to meet the growing demand. Infosys’ attrition increased to 25.5% in the third quarter, up from the rate of 20.1% in the previous quarter that ended on. On the other hand, Infosys' voluntary attrition rate was the highest amongst these 3 IT giants. Shutterstock Infosys & Wipro’s Revelations While announcing the FY2021-22’s Q3 results, TCS said that the “Sustained investment in organic talent development, progressive workplace policies and a vibrant culture that empowers individuals and fosters creativity, have resulted in a long-term track record for best-in-class talent retention,".Īs per the press release mentioning the Q3 earnings, TCS' Chief HR Officer Milind Lakkad said that the IT giant gave preference to internal candidates for the open positions, global deployment opportunities, career paths to learning, and promotions to its employees, to retain its best talent and overcome supply side challenges.Īlso Read: Ratan Tata Turns 84 -One Mistake That Cost Tata Motors Thousands Of Crores However, TCS claims that this was the lowest attrition rate in the industry. TCS’ attrition rate reportedly rose to 15.3% in the third quarter of the current financial year (FY 2021-22) which ended on, as compared to the previous quarter’s rate of 11.9%. The latest revelations from India’s top IT companies including Wipro, Infosys and TCS have signalled that this trend of high attrition rates has continued in the recently ended December quarter of the current fiscal year 2021-22.Īlthough all of these three IT giants reported a healthy jump in financials in their respective releases a couple of days back, they also continued to witness high levels of attrition.Īmidst the digital transformation going across industries due to COVID and the heavy demand for tech talent, the spike in attritions has continued to plague the industry.Īlso Read: TCS To Allow Work From Home For 75% Employees Even After COVID-19 Lockdown Ends TCS’ Revelations Also Read: IT Giant HCL Reportedly Asked Resigning Employees To 'Return' Their Bonuses
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |