Sharma added that along with the growth opportunities in the tech sector and start-ups, there has been a 3x growth in requirements for tech skills in non-tech organisations. However, the past few quarters have seen higher attrition and with the conversations around the ‘Great Resignation’ and ‘Great Movement’, the problem has been highlighted to a larger extent.” Neeti Sharma, president and co-founder of TeamLease Edtech, said, “High attrition has been a problem in the IT sector for a fairly long time. Wipro’s voluntary attrition, measured in the trailing 12 months for the quarter, was at 23 per cent, a moderation of 30 bps from the previous quarter, the company said. HCL Tech’s attrition (last twelve months) remained at 23.8 per cent in Q2FY23, TCS attrition rate in IT services was 21.5 per cent during the September 2022 quarter (higher than 19.7 per cent in the previous quarter and 17.4 per cent in the March quarter). Although it was lower than the previous quarter’s 28.4 per cent, it is higher on a yearly basis as compared with the 20.1 per cent recorded in Q2FY22. This week, Infosys reported voluntary attrition of 27.1 per cent for the September 2022 quarter (Q2FY23). Experts said the primary reason for high attrition is that the growth opportunities are now relatively lesser in the IT sector as compared to other sectors. The past few quarters have seen higher attrition rates, and the hiring has slowed. IT companies - Tata Consultancy Services (TCS), Infosys, Wipro and HCL Tech, among others - are facing high attrition rates and the IT sector’s average attrition rate (last twelve months) is currently as high as 25 per cent.
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