What’s behind record staff exits at Indian IT giants?

If you are an IT worker in India, there is a chance you would have contemplated switching jobs in the past year or may have already done so. India’s biggest IT companies are grappling with a talent crunch which they expect to persist for some time.

The country’s top four IT exporters – Tata Consultancy Services, Infosys, Wipro and HCL Technologies – reported a steep rise in voluntary attrition in the July-September quarter. This threatens to weaken demand, which has been quite robust in the wake of the coronavirus pandemic outbreak, with global businesses accelerating their digital transformation.

The trailing twelve-month (TTM) attrition rate at TCS, although the lowest among the top four at 11.99%, is a jump from 8.6% in the previous quarter.