The IT companies have started losing employees left, right, and center. The reason for this is that companies are not able to give their employees the kind of work-life balance that they require. With the current work culture, it is hard for employees to maintain a healthy work-life balance.
The Indian IT industry is reeling under pressure with a large number of employees leaving and switching jobs as companies face cost surcharges and margin pressures. Tata Consultancy Services (TCS), Infosys, and Wipro – are the top three IT giants in India that faced losses in past financial years. Due to this reason, they decided to recruit over 50,000 employees in just 3 months of 2022-23. The aim is clear to limit the high attrition rates in just a few years.
By far the biggest challenge in the IT industry is, consequently, how these major IT companies plan to prevent ‘Resignation’ and retain their talent.
Major IT companies are taking steps like mid-term hikes, promotions, bonuses, etc. to avoid the woes of job loss.
This has led to an increase in attrition rates in these IT companies over the last year. The number of employees leaving has gone up by more than 2 lakhs in just a year!
The Indian IT industry is under a lot of pressure. This year has seen more than 2 lakh employees leave these IT companies. The reason for this exodus is the lack of growth in the sector and the high attrition rates.
The IT industry in India has been facing a lot of pressure this year. More than 2 lakh employees have left these IT companies, which is a result of the lack of growth in the sector and high attrition rates.
It is not a new phenomenon that employees are leaving their jobs. But this time, the numbers have been huge.
We should not think of these people as quitters. They are just making the right decision for themselves and their families.
This trend has been happening in many industries, not just IT companies. People are now more aware of what they want and they don’t need to stick to one company for long periods anymore.
As per a news source, the Business representative says that if we work in the same company for a long time, then the chances of growth are reduced, which directly affects the life of the employee. This is the main reason that in today’s date people are leaving jobs not only from IT but also from different companies.