1/17/2024 0 Comments Attrition rate in it sectorThey say that the employee recognition at the workplace must play a significant role in retaining them. To address the issue, the experts say that IT firms must also look at becoming more employee-centric and offering cross-skilling or multi-skilling programmes that help employees stay engaged. Last week, several major IT companies such as Infosys, Wipro and Tech Mahindra have revoked offer letters they extended to freshers after the companies delayed the onboarding process for months. The hiring has slowed down in the IT sector and the IT companies globally, including in India, are also going slow on the fresh hirings and moreover resorting to layoffs. See more here.Some other experts said that corporate sectors have been facing challenges in hiring and retaining the right people at work, leading to high attrition rate. Take a look at the breadth of data in our Pulse Dashboard, which showcases data about current and future demand trends for technology and business services and related emerging technologies. The Bottom Line: Attrition is here to stay and unless organizations become more empathetic as employers, this rising tide will continue to riseĮnterprises need to keep a watch on what’s non-essential and focus on essential aspects like learning, culture, and flexibility to retain valuable talent. Currently, only Cognizant reports attrition along with BPO numbers while the rest don’t to avoid reporting higher numbers.
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