21% Cognizant, 17% Accenture Employees Resigned In 90 Days; Attrition At Record High
The attrition rate at the leading IT companies in India, Cognizant, Accenture, Infosys, etc. is now at an all time high.
One of the main reasons for this is the rising demand for IT professionals.
For instance, the attrition rate at Accenture is now 17% in the third quarter, up from 11% in the same quarter last year.
Read on to find out all the details!
Accenture, Cognizant, Infosys, Wipro Record Highest Ever Attrition Rates
As per reports, there is a huge demand for IT and Technology professionals, due to which, there is an increase in the attrition rate at the leading IT companies like Cognizant, Accenture, Infosys, and Wipro, etc.
In the Jan to March quarter of the financial year 2021, the attrition rate at Cognizant is at an all time high, at 21%, which was 19% in the same quarter last year.
Whereas, Bengaluru based IT firm, Infosys has recorded a highest attrition rate of 15.2% in the January to March quarter. Infosys is also the second biggest IT firm of India
This was followed by the third biggest IT firm Wipro which clocked 12.1% attrition in the fourth quarter.
Attrition Rate At TCS Lesser Than Others
Then there is TCS, which has quite a low attrition rate as compared to its counterparts in the previous quarters as well. In the fourth quarter, i.e., Jan to March quarter of the financial 2021, TCS clocked an attrition rate of 7.2%.
As per Julie Sweet, CEO, Accenture, “We are proud to announce outstanding financial results for the second quarter of fiscal 21, and our return to pre-COVID level financial results a quarter earlier than we expected and with a tough compare.”
She also confirmed that there is a high demand for technology professionals therefore the employee attrition rate is back to the way it was before the pandemic hit the country.
Whereas, Brian Humphries, Chief Executive Officer, Cognizant has said that the employee attrition rate is a major reason of worry for the company, which is 21% as compared to 19% in the previous quarter. He also confirmed that this is the highest rate among the top IT organizations.