Lately global as well as India’s Information technology (IT) sector has been witnessing a talent war in order to retain their employees from quitting the organizations. In order to do this, IT majors are spending millions on frequent promotions of their employees. While this has increased the expenses of the IT giants, it meanwhile has created many job opportunities for freshers graduating out of universities. Tata Consultancy Services (TCS), Infosys, and Wipro are the top three information technology firms in the Indian market with over 11 lakh IT professionals working for the companies.
Out of the three, Tata Group company Tata Consultancy Services is the top IT firm in the IT sector with the highest market capitalisation and employees count. All the IT companies, in order to effectively tackle the high employee attrition rate, have been aggressively hiring. In simple terms, the Employee attrition rate is the measure of employees who have left voluntarily or involuntarily over a period of time. Cuurenty, Infosys is struggling with the highest rate of employees leaving the office, followed closely by Wipro and then TCS. However, the management at TCS feels that the attrition rate is cooling off and might come down after a few quarters.