India’s IT Firms are leaving no stone untuned
As 15% IT Employees Are Resigning, Firms Offering 100% Salary Bonus, Foreign Trips, Mercedes Cars To Retain Them
India’s IT firms are leaving no stone unturned when it comes to containing attrition and retaining the best and most skilled.
Randstad India said that its global clients are offering trips to Europe and the Middle East, some even giving out tickets to the T-20 Championship in Dubai.
Employees working for some of those clients have also been given a choice between high-end gadgets like Apple iPad Pro, Bose Headphones, Harman Kardon Speakers, and luxe watches. The IT industry is presently facing a crisis of sorts as attrition rates stand between 14 and 15% for Wipro, Infosys and Larsen and Toubro Infotech (LTI).
TCS was the only exception as its attrition rate declined to 8.6% from 8.9%. Industry experts say that replacement cost is 35-40% higher than the cost of retaining an employee.
By Dayanand N. Mangaonkar