‘Attrition in IT sector to cross 1 million this year’
The Hindu
‘Staff leave for greener pastures’
The Indian IT sector is set to witness attrition of more than 1.15 million this fiscal according to Xpheno, a specialist staffing firm.
Attrition in a company refers to employees that voluntarily quit. “With an average of 23% attrition projected on a talent base of 5 million, the tech sector is set to witness over 1 million talent movements this year,” said Kamal Karanth, CoFounder, Xpheno.
“The hiring action around attrition refills combining with the expansion hiring for the year, has set the pace for talent movements,” he added. Interestingly, overall attrition in the sector has not changed in the last four years, but its status shifted from `highly involuntary’ until a year earlier to `highly voluntary’ in the current fiscal, industry experts said.
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