India’s IT sector faces alarming voluntary attrition rates
As companies battle to hire the best talents, the Indian Information Technology (IT) sector is facing alarming voluntary attrition rates in FY 2022.
Leading IT-BPO firm Infosys climbed to 15.2% in Q1 2021, compared to the previous quarter’s 10 percent. Wipro also increased its Q4 2020 voluntary attrition rate from 11% to 12.1%.
Infosys said they continue to reskill and take measures in compensation benefits to retain top talent. Further, Wipro noted that they’re providing both financial and soft perks.
On the other hand, India’s largest IT exporter Tata Consultancy Services (TCS) Ltd. reported a drop in its attrition rate – from Q3 2020s 7.6% to 7.2% in the next quarter.
