![]() ![]() Why are employees switching jobs so often?īy the figures alone, it appears that Indian IT businesses have a greater turnover rate than their counterparts in other sectors. He noted that the attrition rate was increasing overall but was beginning to level off, a trend that might be sustained into the second quarter. CEO Rajesh Gopinathan of India's top IT giant, TCS, noted after reporting quarterly results that the business's attrition rate has not decreased but may in the future. TCS's attrition rate increased to 19.7% from 19.3% in the previous quarter, which was still lower than the industry average. ![]() in general, when an industry goes through a quick increase, there is shock with attrition rate ranging at 23-24%." He stated, "I think that shock stage is finally coming down. Managing Director and CEO of Tech Mahindra CP Gurnani speculated that the quick growth of the business was to blame for the company's high turnover rates. After Tech Mahindra's 22%, Wipro's attrition rate was the next highest at 23.3%. The pace at which employees leave a company is known as the " attrition rate." In the first quarter of the fiscal year 2022-23, Infosys had the highest attrition rate among Indian IT companies at 28.4%. Why are so many employees leaving their organisations, and what are the companies doing about it? Due to high attrition, the top three IT companies in India - TCS, Infosys, and Wipro, increased their net hirings to more than 50,000 in the first quarter of the financial year 2022-23. ![]()
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