![]() ![]() With many IT transformation projects coming up in the market, companies are ramping up their workforce and ready to offer higher salaries and that is causing a higher attrition, said Deepak Agrawal, chief executive officer, TurboHire. “Along with the organic growth in demand due to increased IT spend and inflow of large-scale projects, the job market will be buoyant for talent that maintained a low profile last year,” said Kamal Karanth, co-founder of specialist staffing agency Xpheno. Industry analysts believe the IT-BPM industry will see one million resignations, since a 22-23% attrition rate on a projected base of 4.6 million employees works out to around one million people. “Now, with more deals, hiring plans are exploding,” he said. The industry witnessed subdued hiring and lower attrition during 2020 owing to the outbreak-induced slowdown. “This trend will help job-seekers increase their salaries by an additional 15-25% and gain more savings potential as the critical mass of employees will continue to work from home till December 2021,” said Balasundaram. IT professionals stand to gain from a higher attrition rate. ![]() This has also led to growing demand for professionals who are trained to work on these projects. They are also looking to build new business models based on transactions and user data and grow their business. Companies across the world are rewriting legacy code to modern software, shelving their data centres to move their applications to the Cloud. India’s technology industry has seen a massive revival, both within the country and from global companies as they look to transform their technology infrastructure to enable access to applications remotely. This is also resulting in higher attrition,” said Sangeeta Gupta, chief strategy officer, Nasscom. Last year, every company upped their utilization, and they are now recognising the importance of a bench and hiring more. ![]() IT-BPM industry association Nasscom said companies are staring at higher attrition due to the growth in demand after a prolonged lull last year. ![]()
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