The Indian IT services industry is again going through a phase of high attrition, that is, employees voluntarily leaving their employers.
Take Infosys and TCS, for example. At the end of the March quarter, TCS’s voluntary attrition on a trailing 12 months’ basis for IT services was 17.4% vs 7.2% a year earlier.
Infosys’s was 27.7%. Compare this with 10.9% in March 2021. That is, for every 100 employees, if only 11 of them walked away in March 2021, merely a year later, 28 are quitting.
Theoretically, in slightly less than 4 years, you will have a completely different set of faces manning the company.
Why is this a problem? How long will this last?
