The attrition rate for all the major companies are increasing drastically!
Tech Mahindra’s attrition rate is higher when compared to other Major It companies. Also Companies are paying higher compensation to keep senior personnel for mainly supply and demand for skill.
Recently Infosys and Wipro had the highest LTM (last twelve months) attrition rates this quarter, at 20.1 per cent and 20.5 per cent, respectively.TCS posted the lowest quarterly attrition rate increase in the last twelve months, at 11.9 per cent.
Talent Crunch Is One Big Problem!
Tech Mahindra’s Drastically Increased Attrition Rate
Employees are leaving, and the majority are from Tier-I cities, according to a study conducted by the company, and thus slapping the attrition rate to the highest.
Tech Mahindra has already taken the matter seriously; it has planned out broad-based raises, promotions, and retention incentives to make the employees stay.
“Attrition in some of India’s bigger cities is high whether it is Bangalore, Hyderabad, or Pune. We have also analyzed to know that the attrition is much much lower when it comes to Bhubaneswar and Nagpur…We anticipate a certain amount of attrition, hence plan for hiring or reskilling or upskilling a little ahead of time,”
C.P. Gurnani, chief executive officer and managing director of Tech Mahindra at a press conference after the earnings release.
Total Hiring Of Tech Mahindra
Recently from the month of July Tech Mahindra hired 14,930 people, bringing the total number of employees to 1.41 lakh.
The top four Indian IT companies hired over 50,000 workers in the second quarter of FY22, pushing their total hiring to over one lakh in the first six months of the fiscal year.
In the last three months, the company’s profit has decreased.
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