Half of IT workforce to quit in next 2 years

By siliconindia staff writer   |   Wednesday, 25 February 2004, 08:00 Hrs
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NEW DELHI: Indicating that a high attrition rate in the software and ITeS industry could rise further, HR research firm Hewitt on Tuesday said half of the IT workforce is planning to resign in the next two years with 45 per cent of the surveyed employees willing to consider a switch over for 20 per cent higher compensation.

"Forty-five per cent of the employees surveyed indicated that they would seriously consider a switch for a 20 per cent higher compensation and half of your IT work force is planning to resign in the next two years,” Aditya Kohli, head, Hewitt Associates, said here at a Nasscom event on HR networking while disclosing the findings of a research by Hewitt.

With average engagement levels in the industry at just about 50 per cent, Kohli said 74 per cent of Indian IT professionals surveyed indicated that they would stay at the current job because of the opportunity to learn and use new skills technology.

He said the retention strategies could be in the form of establishment of high performance culture, rewards for performance, competitive, differentiated and individualised fixed pay.

"Individual wealth creation and rapid reassessment would also be the key to retention strategies", Kohli said.

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