High attrition rate in top IT companies is the major challenge for all IT giants like, TCS, Infosys, etc. Employees are resigning from top giant IT companies. Tata Consultancy Services (TCS), Wipro, and Infosys are facing high attrition for the last 4 quarters.
What happened? Why employees are suddenly leaving these well-established companies? Let's see the details below.
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| As per the information collected TCS, Wipro, and Infosys are going through high attrition in the current financial year. More than 50K new hiring in the first quarter of the financial year 2022-2023. But on the other hand, TCS, Infosys, and Wipro have raised high attrition of over 68K employees in the first quarter of this current financial year. |
High Attrition Rate in Top IT Companies & Why Employees are Resigning from TCS, Infosys, and Wipro?
These top IT companies in India is known for mass hiring. TCS alone hires more than 50K employees in one quarter. Infosys and Wipro also doing hiring on a large scale in India. These companies create good opportunities for entry-level jobs in the IT industry.
These companies create more opportunities for fresher and offer a very good amount by doing campus hiring. People who already work in TCS, have 5 to 6 lacs CTC, but the newly hired employees get the salary more than old employees.
As per several media reports, TCS and many other companies are not giving any hikes in annual appraisals. Tenured employees are getting dissatisfaction and planning to switch to new IT startup companies or product-based IT companies.
These days new IT startup companies and product-based companies are offering high CTC packages to IT engineers compared to service-based giant companies like TCS. Wipro, Infosys, etc.
However there are many advantages and disadvantages of working with service-based companies and product-based companies, but in terms of financial growth, product-based companies are better than TCS, Infosys, or any other service-based companies.
As per the information collected TCS, Wipro, and Infosys is going through high attrition in the current financial year. More than 50K new hiring in the first quarter of the financial year 2022-2023. But in the other hand, TCS, Infosys, and Wipro have raised high attrition of over 68K employees in the first quarter of this current financial year.
High attrition is a big concern for IT giant companies these days, also TCS, Infosys, and Wipro is facing issue with moonlighting, shortage of tech talent, and increased compensation policy. If they do not have any planning to retain their employees, then possibly value will go down in the coming future soon.
High Attrition Rate for Top IT Companies.
Tata Consultancy Services has raised the attrition rate by 17.4% with a headcount of 5,92,195 employees in Q4FY22, where 25,760 employees left and 35,000 new employees were added in the same quarter.
Wipro has raised the attrition rate by 23.8% with a headcount of 2,43,128 employees in Q4FY22, where 14,466 employees left and 45,416 new employees were added in the same quarter.
Infosys has raised the attrition rate by 27.7% with a headcount of 3,14,015 employees in Q4FY22, where 21,745 employees left and 21,848 new employees were added in the same quarter.
So this is a short analysis of high attrition in TCS, Wipro, and Infosys. It has a big challenge and concern to take initiative on priority for these IT companies.
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