What is the current attrition rate in India?

What is the current attrition rate in India?

Attrition in the Indian IT sector is at an all-time high. For the quarter ending December 2021, TCS saw an attrition rate of 15.30%, while Infosys and Wipro’s numbers stood at 25.50% and 22.70 %, respectively. A far cry from last year’s numbers.

Which company has highest attrition rate in world?

The company’s global headcount stands at 318,400 in the third quarter, which it says is among the highest levels ever.

Which company in India has lowest attrition rate?

Tata Consultancy Services (TCS)
How TCS maintains ‘lowest’ attrition rate in industry. India’s top IT company Tata Consultancy Services (TCS) added 28,238 employees on a net basis, taking the total number of employees to 556,986 as on December 2021.

What is an acceptable rate of attrition?

What is a Good Attrition Rate? While it’s difficult to define a “good” attrition rate, businesses should generally aim for an attrition rate of 10% or lower. Keep in mind however that this number will vary from company to company and industry to industry, depending on the circumstances.

Why is attrition rate so high in India?

“The sharp rise in attrition rates has been fueled by the rising demand for automation and digitalisation across all industry sectors and the world at large. As a result, all IT services players have strong order books looking for talent to work on those projects.

Which IT company has the highest attrition rate in India?

Many IT firms in India have reported high attrition rates for the past few quarters. For instance, in the third quarter of FY22, Infosys reported an attrition rate of 22.5%, while Wipro reported 22.7%. During the same period, the attrition rate at TCS was 15.3%, and Mindtree reported 21.9%.

Which IT company has more attrition rate in India?

Why is attrition low in TCS?

The company hoped that because of record hiring at TCS, the attrition number will come down. The rationale is that with the IT industry, too, hiring in large numbers, the supply-side pressure would ease. In 2021-22, the company added 35,209 associates in Q4, taking the total to 592,195.

Why is attrition less in TCS?

TCS is very keen when it comes to training employees and offers courses to the employees to level up. On attending the training sessions, 22% of professionals attend training more than 6 times in a year. 29% have done training 3-5 times in a year whereas 33% have done 1-2 times in a year.

What is BPO attrition?

Attrition is the rate at which members of staff leave the workforce over a given period of time. It is also known as “employee turnover”, or “employee churn”, although in the contact centre industry, “churn” tends to refer to the flow of customers rather than staff.

What is the great attrition?

The Great Attrition of 2021 — employees resigning in record numbers — continues unabated. If you think this is just a passing trend or only impacts certain industries, you may be ill-advised.

What is Cognizant attrition rate?

Despite being able to bring down the employee exits, Cognizant’s attrition rate was still highest across the industry at 29 per cent followed by Infosys at 27.7 per cent. The quarterly revenues of Cognizant grew by 9.7 per cent on a yoy basis to $4.8 billion led by a 20 per cent , yoy growth in digital revenues .

What is attrition rate of Accenture?

The attrition rate at Infosys touched a record high of 27.7 per cent in the fourth quarter of FY22 on an LTM (last twelve months) basis, the company revealed on Wednesday….

Company Attrition Q4
Infosys 27.7%
Accenture* 18%

Why is attrition rate so high in Infosys?

An overheated job market in the software and BPO space has triggered a surge in attrition rates at TCS and Infosys, the top two IT companies in the country by revenue, prompting tech companies to fall back on unconventional tactics in an attempt to retain talent.

What is the main challenge with attrition?

There are many reasons for attrition and usually research has shown that the most cited reason is that the employee is unable to get on with his or her manager. The adage that employees leave managers rather than organizations is a favorite catchphrase among management experts and organizational behavior theorists.

What is employee attrition rate?

What Is An Attrition Rate? Commonly referred to as a ‘churn rate,’ a company’s attrition rate is the rate at which people leave. If you break it down, it is the number of people who have left the company, divided by the average number of employees over a period of time.

The survey said that at 16.3 per cent, it is the lowest that corporate India has observed since the 2009 financial crisis. While attrition was controlled at a broader level, key talent attrition increased from 5.9 per cent in 2014 to 7.3 per cent in 2015.

What is the data science India attrition report?

The Data Science India Attrition Report is an annual study that delves into the attrition trends to provide a comprehensive view of the changing landscape of attrition in India’s data science industry.

What is the attrition rate of IT professionals in Hyderabad?

The attrition rate by years of experience is highest for the professionals with less than two years of experience across all the cities, ranging from 31.7% for Hyderabad to 43.7% for Bangalore.

What is the rate of attrition in the manufacturing industry?

In manufacturing, 12.2 per cent was the overall attrition, of which 3.4 per cent attributed by involuntary attrition. Increasingly organisations are developing separate retention plans and policies for their top talent, the survey said.