Record Number Of Employees Are Quitting TCS, Infosys, Wipro: Where Are They Going?

There are plenty of attractive opportunities in the tech job market today.

Attrition is always a cross to bear for the IT industry, but the number of people leaving in droves has shot up in recent times.

No Slowing Down

TCS, Infosys and Wipro reported 15.3 percent, 25.5 percent and 22.7 percent attrition respectively for the quarter ending December 2021.

This double-digit 15-25% attrition is expected to continue for the next 2-3 quarters since there is no tested method developed to curb near term attrition.

Niche Talent Finds Takers

There are plenty of attractive opportunities in the tech job market today.

Those proficient in areas such as cloud computing, big data, automation, data science, cybersecurity, artificial intelligence, machine learning etc can practically name their price and companies will be clamoring to take them in.

Joining Startups

This has been the year of startups, with every other one becoming a unicorn on a near regular basis.

Flush with funds from optimistic investors, they make the best use of it by offering lucrative packages to talented individuals.

It’s no surprise that one might leave a conventional corporate job when there are greener, fresher pastures out there.

Changing Preferences

After getting a taste of what it’s like working from home, many are preferring to stick with the new lifestyle instead of going back to offices.

Gartner conducted a poll in which 48% of employees preferred to work part time remotely after the pandemic versus 30% before.

It’s clear to see that the way people view work has undergone a tremendous shift, which may have prompted them to quit.

How Companies Cope

Companies are responding by increasing their hiring targets, particularly freshers.

Wipro is planning to increase its fresher supply by hiring 30,000 freshers in FY23.

TCS almost doubled its fresher supply for the year- from 40,000 in FY21 to 78,000 thus far.

Infosys also increased its hiring program twice in the year- from 35,000 in the beginning to 45,000 in the last quarter and 55,000 in the October-December 2021 quarter.

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