Indian IT cos hike payment to curb attrition

By agencies   |   Thursday, 24 March 2005, 08:00 Hrs
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NEW DELHI: Software companies are sighing with relief - at least for now.

Attrition rates, which were high till recently, have shown some signs of receding in the last quarter and they are continuing to do so.

Wipro has seen its attrition rate drop from 18 percent in the second quarter to 12 percent last quarter, a 6 percent drop. Similarly, Satyam has seen its attrition rate drop from 19 percent to 15 percent in the last quarter. Infosys, on the other hand, has seen a marginal drop of 0.5 percent.

Sources say attrition rates will sink further this quarter. Software companies have been taking steps to curtail attrition and their sustained efforts have enabled them to retain staff.

Salary raises by IT companies seem to have gone down well with employees. Wipro has raised offshore salaries by 15-17 percent in November, while rival Satyam also raised the salaries of its offshore employees by 18-20 percent in October. Additionally, Wipro offered its employees a restricted stock option program.

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