Amidst the Great Resignation, the attrition figures have touched the highest numbers in the last 20 years in India claim reports. The Great Resignation made its way since the last year, with the trend of employees leaving jobs for better ones. Despite that, IT companies in India have hired over 3,50,000 people in the first three quarters of 2021.
According to a report by Aon, the attrition rates have touched 21 per cent in 2021 from 12.8 per cent in 2020, as per a report from the Mint. The survey also states that salary hikes this year will be an average of 9 per cent, the highest in five years as companies trudge back to the pre-pandemic levels and business outlook improves.
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However, in India, hiring has seen a hike. The survey claims that India continues to project the highest salary increases among the BRIC (Brazil, Russia, India and China) nations in 2022, with Brazil at five per cent, Russia at 6.1 per cent and China at six per cent. Meanwhile, according to a report by BusinessLine, claims that IT companies in India have hired over 3,50,000 people in the first three quarters of 2021. This, according to the report, contributes 14-15 per cent of the total employees in these companies.
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Calling it a welcome move, Nitin Sethi, partner and CEO of Aon’s Human Capital Solutions in India, said, “For employers, it could emerge as a double-edged sword when you combine the rising cost of talent with record-high attrition numbers. This trend is fueled by economic recovery and the need for organisations to invest in new-age capabilities to build a resilient workforce,” reported the news daily.
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