![]() ![]() ![]() TCS’s vice president HR, DP Nambiar, said that based on insights from historical trends and the future pipeline of talent profile we are losing, reasons for attrition, environment factors, and potential indicators are defined. In a way, this is a talent-retention model, he added. He said that this could be why their attrition remains stable as people naturally have a chance to upskill to take up higher roles. Tech Mahindra’s chief strategy officer Jagdish Mitra said that it is a long-term offering to the customer as they are no longer dependent on humans. Meanwhile, Tech Mahindra said it uses AI in its services offerings in the business process services segment. “However, we need to be cautious and use tech wisely to maintain or develop human connections through continuous improvement of the framework frequently,” said Khulbe. Your newsletter subscriptions are subject to AIM Privacy Policy and Terms and Conditions. “Recruiters now do not have to scrutinise piles of resumes or go through the tedious job of shortlisting profiles,” she added, saying that this saves time and cost by about 10-20 per cent, as their internal number crunchers have recently reported. Indus Net Technologies’ Head of Recruitment, Nidhi Khulbe, said that AI is helping their recruiters process the high volumes of job applications at higher speeds, improving efficiency and productivity. “We have used the same information to improve our hiring process and handle the attrition rate,” he added. Happiest Minds Technologies’ Senior Vice President and Head of CoR – AI/Analytics Ajay Agrawal told AIM that the company uses statistical analysis to look at historic attrition data. What’s fascinating is – they are well able to combat the issue – and their solution is backed by technology. This can be attributed to the shortage of digital talent, high demand for qualified professionals, and increased wages. All these companies reported 12-20% attrition in March ended quarter in 2020–the pre-pandemic level.The Indian IT sector has been dealing with an all-time high attrition rate – averaging around 25 per cent. India’s largest software exporter Tata Consultancy Services was the only company among the top four to report a sequential uptick in attrition–21.7%, up 180 basis points. HCLTech’s attrition was flat at 23.8% while Wipro’s metric moderated 30 basis points sequentially to 23%. It clocked 27.1% despite a 130 basis point fall sequentially. It means we have to hire fewer replacement people, less recruiting costs, and you saw that in our improvement in G&A (general and administrative) expenses this quarter, and there is less ramp-up time for new hires,” said KC McClure, CFO, Accenture in an analyst call.Īmong the Indian companies, Tech Mahindra reported lowest attrition during Q2 at 19.6% while Infosys reported the highest attrition number among the top five Indian IT firms. “This year attrition came down at a tick more, and we are really pleased with that. This was an improvement on a cyclically low-attrition quarter. It has fallen from 20% during the June-August quarter to 13% in the September-November quarter. Last week, Accenture Plc said there has been a sharp dip in attrition numbers. This has resulted in a cool off in terms of employees looking for other opportunities while the switch hikes, too, have plateaued from peak levels seen during the last 12 months. Global companies such as Microsoft, Cisco and Amazon have announced layoffs globally and, in some cases, their Indian operations too have been impacted. Overall, the hiring funnel has also shrunken since Q2 and with cautious shifting of jobs, attrition rate is expected to slow down (and) hit pre-pandemic level, according to insights from TeamLease Digital. ![]() “While the companies were operating at a healthy 12% during the pre-pandemic period, which is a healthy number for the sector, even the current range is a significant improvement,” he added. We have deployed measures such as broad-based hikes, promotions and retention incentives including professional growth opportunities, to stem attrition,” he added.Īccording to Sunil C, CEO, TeamLease Digital, attrition in the IT Services sector is down to 17-18% from a peak of 25% seen during the first half of 2022. “We began witnessing a drop in attrition from the previous quarter itself. Tech Mahindra CFO Rohit Anand, told ET that the company’s quarterly annualized attrition was down to 16% during Q2FY’23 from 18.1% sequentially. ![]()
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