IT Industry facing a perfect storm in terms of talent issues: Rishad Premji

The Indian IT sector is facing a “perfect storm” in terms of talent-related challenges, said Wipro Ltd executive chairman Rishad Premji, as nearly 40% of its overall workforce have joined only in the last two years and a similar quantum is operating from tier II and tier III cities.

Premji’s remarks have come at a time when the IT industry has witnessed high levels of attrition in the quarter ended June 30. Among the top four IT firms, Wipro was the only exception with an attrition rate of 23.3% in the April-June period, improving 50 basis points quarter on quarter.

“Less than 15% of employees are coming to offices in most companies…there is a huge challenge despite a lot of growth in terms of connectedness culture and getting people to have a sense of belonging to the organization,” Premji said.