Top Indian IT firms grappling with attrition problem
Already riddled with problem of appreciating rupee, Indian IT firms are also finding it hard to retain employees with the top four firms viz, TCS, Infosys, WIPRO and Satyam witnessing an exodus of about 10000 people in the first quarter. Although all the four firms collectively hited more than 25000 employees in the April-June period, the net addition was just about 16300 taking their total head count to 285357 employees.
TCS, the biggest in terms if revenues as well as headcount saw an exodis of about 2500 employess, while over 2000 people quit India’s second largest software exporter, Infosys. The employee loss is estimated to be much higher at about 3500 at Wipro, the country’s third biggest IT firm, while Satyam, the smallest of the four, saw the lowest number - about 1600 people leaving the country.
TCS reported an attriction rate of 11.5 percent, up from 10.6 percent a year ago, Satyam saw, its attrition rate falling to 14.9 percent from 15.7 percent in the year ago period, where as Wipro wirnessed a sharps surge to 20 percent from 17 percent in the previous quarter and 15 percent in the year ago quarter.
Wipro Corporate Vice president (Human Resource) Pratik Kumar said that they has seen a spike in the percentage of people who have gone for higher studies, which is not very uncommon to see in quater one, because all admissions open up around this time.
