Salaries outpacing experience

By agencies   |   Tuesday, 18 October 2005, 07:00 Hrs
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HYDERABAD: In the growing IT market in India, salary profile is outpacing the experience required for any particular job. This is one of the reasons of growing attrition rates and rise in the cases of false experience claims in the Indian IT sector.

The Chief Executive Officer of iGate Global Services, Phaneesh Murthy, said: “It better for us to handle this issue as soon as possible. Leave alone individual companies, even the industry would be faced with this challenge as it would be difficult to sustain business given such levels of attrition."

He said that now days youngsters are focusing on higher salary package rather than building technology careers. Given the Nasscom-McKinsey projections for technology sector growth, a potential mismatch in the demand-supply scenario is likely. On the demand side, the business looked pretty robust and could possibly grow from 7-8 percent of the offshoring pie to about 20 percent, but from the supply side, there was potential for significant challenges, he added.

On the high attrition levels in the tech sector, Murthy said: “Call centers are witness about 60 to 70 percent attrition levels. If this trend continues than very few firms can survive.

“Given the need for trained resources, companies are often overlooking bloated and false resumes. This would have to change. For instance, we have enlisted the services of an independent company to do some background work. We have realized that more than 6-8 percent, across locations, bloat up experience. Yet another reason companies initiate a thorough check is that clients insist on their background before taking up projects,” he said.

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