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<ul><li>Infosys’ attrition rate increased to 25.5% in the December quarter of 2021.</li><li>It now plans to hire additional 10,000 employees to make up for this increased attrition rate.</li><li>Roy further added that the company already has a pipeline of potential candidates</li></ul>IT giant Infosys plans to increase its hiring plan to over 55,000 individuals by March 2022 as the attrition rate in the company has crossed 25% compared to 20.1% three months earlier. In comparison, the attrition rate at Wipro was <a href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">22.7% in the three months</a> ending December. Attrition is used to describe the rate at which employees are leaving the company. “We continue to prioritize investments in talent acquisition and development and have further increased our global graduate hiring program to over 55,000 for FY22 to support our growth ambitions," Nilanjan Roy, chief financial officer at Infosys said. The company had earlier planned to hire 45,000 employees by the end of 2021. <div type="image" title="Infosys" msid="88857005" hostid="261" caption="&amp;lt;p&amp;gt;Infosys&amp;lt;/p&amp;gt;"></div> Roy further added that the company already has a pipeline of potential candidates from multiple verticals including cloud, internet of things, cyber security and more. Roy explained that the company had a three-pronged strategy to stop people from leaving the company. These included higher rewards and compensation, upskilling and reskilling opportunities, and talent retention programmes. “We are also looking at differentiated talent this year when our campus hires digital specialists, who are different skill sets coming into the company. Certainly across reskilling, which continues to be a core to our fundamental business model and how we digitally scale employees, give them incentives to get reskilling in new technologies,” Roy added, explaining how they plan to increase their retention rate. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/wipro-plans-to-hire-30000-freshers-in-2023-as-attrition-rate-increases-to-22/articleshow/88855676.cms">Wipro increases hiring plan to 30,000 as attrition hits a new high</a>

The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000

<keyword id="46431" type="CITY" weightage="80" keywordseo="India-Inc">India Inc</keyword> is likely to witness <keyword id="28114" type="UNKNOWN" weightage="80" keywordseo="Attrition">attrition</keyword> rates of up to 25 per cent in 2015, thanks to an upbeat job market and improved <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword>. 
 Fresher-level attrition is expected to be around 12-14 per cent while at senior-level it will be in the range of 8-10 per cent, according to a survey by job portal <keyword id="2536623" type="UNKNOWN" weightage="80" keywordseo="Wisdom-Jobs">Wisdom Jobs</keyword>. 
 "The survey reinforces the gut-feel in the recruitment industry that 2015 will see huge employee turnover in most sectors. This churn can primarily be attributed to job seeker optimism arising from a stable economy leading to a spurt in opportunities," said Wisdomjobs.com Founder and <keyword id="5645" type="POSITION" weightage="80" keywordseo="CEO">CEO</keyword> <keyword id="2536624" type="UNKNOWN" weightage="80" keywordseo="Ajay-Kolla">Ajay Kolla</keyword>. 
 Mid and lateral-level attrition is pegged to grow to 15-20 per cent and key role attrition is expected to <keyword id="30450" type="ENTERTAINMENT" weightage="80" keywordseo="Touch">touch</keyword> 7 per cent during the year. 
 
"The sectors that are expected to get severely impacted are IT, ITES and software as these segments are expected to witness attrition of 25 per cent or more at entry-level positions," the survey said. 
 The causes of these high attrition rates include poor workplace engagement, unsatisfactory work <keyword id="6356826" type="COMPANY" weightage="80" keywordseo="environment">environment</keyword> and poor salary structures and appraisals. 
 Additionally, office politics and restricted career growth are also among reasons for switching of <keyword id="11018" type="COMPANY" weightage="80" keywordseo="Jobs">jobs</keyword> by employees. 
 
Moreover, 65 per cent of the respondents said upbeat job market and improved economy is influencing them to change jobs. 
 
The survey added that the 'Make in India' campaign is gaining steam and thus affecting the traditionally less affected manufacturing sector. 
 Meanwhile, industries like <keyword id="34523" type="CITY" weightage="80" keywordseo="fmcg">FMCG</keyword>, pharma and aviation exhibited a comparatively lower attrition rate at 18 per cent, 12 per cent and 15 per cent, respectively. 
 
The sectors that would see the least rate of attrition are automobile and infrastructure at 8 per cent and 10 per cent, largely due to lack of industry growth. 
 
On the other hand, PSU sector would witness an attrition rate of 8 per cent due to strong employer branding, and 46 per cent respondents see the sector as an attractive one to make a switch, the survey said.

An upbeat job market means higher attrition levels as well. Know why!

<ul><li>Retail, QSR and banking, financial services and insurance sectors were the top three industries with the highest attrition rates of frontline workers.</li><li>The sector which saw the second highest rate of attrition is e-commerce, followed by banking and insurance sectors.</li><li>In FY22, around eight million frontline jobs were created in India with the highest contribution coming from the e-commerce sector.</li></ul>Retail and <keyword id="446951" type="General" weightage="20" keywordseo="quick-service-restaurants" source="Orion">quick service restaurants</keyword> have the highest rate of attrition in terms of frontline workers, according to a report by <keyword id="3156551" type="General" weightage="20" keywordseo="BetterPlace" source="Orion">BetterPlace</keyword>. The monthly <keyword id="505875" type="General" weightage="20" keywordseo="attrition-rate" source="Orion">attrition rate</keyword> for these sectors stood at 19% in FY22 – which means every month around a fifth of their employees are quitting. “These industries have also witnessed a huge surge in demand for their products and services during and post the pandemic. Since the demand is huge and processing times lean, they require workers in large numbers. The hectic nature of jobs and easy replaceability of workers can be the two major reasons why attrition is high in these industries,” said the report. The sector with the second highest attrition rate is ecommerce. That’s followed by banking and financial services and logistics and mobility. Facility management and IT together have had an attrition rate of 10% and it also ties with the manufacturing sector. Attrition rate, also known as churn rate, is the number of people who have left the company, divided by the average number of employees over a period of time. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Sector </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Attrition rate </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Retail and QSR </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">19% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">E-commerce </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">15% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">BFSI </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">13% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Logistics and mobility </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">12% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">IFM and IT </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Manufacturing </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Others </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">8% </td></tr></tbody></table>Source: BetterPlace report According to <keyword id="113282" type="General" weightage="20" keywordseo="Retailers-Association-of-India" source="Orion">Retailers Association of India</keyword>, the <keyword id="71937" type="General" weightage="20" keywordseo="Retail-sector" source="Orion">retail sector</keyword> employs over 45 million people. Over 5 million employees left their jobs or lost their jobs during the pandemic in the retail sector and the sector has come a long way since then; as Indians resumed their love for shopping in the last two quarters. The retail industry is bouncing back to pre-Covid levels and is currently on a hiring spree as large retail chains like Aditya Birla Fashion, Tata owned Trent, Shoppers Stop are expanding into smaller cities. <cmsannotation type="cmsannotation" annotationid="Sectors on a hiring spree due to high attrition" comment="subhead" text="Sectors on a hiring spree due to high attrition">Sectors on a hiring spree due to high attrition</cmsannotation> The report says that in FY22, around 8 million frontline jobs were created in India. E-commerce contributed the highest to these jobs, followed by logistics and mobility, according to the BetterPlace report. As retail consumption rose after the pandemic, the second quarter in FY22 saw a huge rise in demand for frontline workers because of a rapid increase in jobs in the delivery and retail segments. “India’s frontline workforce has been an essential cog in our economic machine, driving significant growth across sectors. As the economy is normalizing, we are seeing a resurgence in demand for frontline workforce and hence, the creation of jobs - eight million as per our data, and this will grow up to 50 million by the end of this decade,” said Pravin Agarwala, co-founder and group CEO at BetterPlace. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/condom-maker-mankind-pharma-files-papers-for-an-ipo/articleshow/94249464.cms">Condom maker Mankind Pharma files papers for an IPO</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/ujjivan-raises-475-crore-through-qip-strong-participation-from-quality-long-term-investors/articleshow/94245879.cms">Ujjivan raises ₹475 crore through QIP; Strong participation from quality long-term investors</a>

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

<ul><li>Attrition rate in <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> stands at 20.3% in the year 2022. </li><li>The most impacted sectors are also the ones witnessing the highest salary increases. </li><li>Voluntary resignation is the key reason for rising attrition. </li><li>The attrition rate in India last year was greater in women than men. </li></ul>India has been giving double-digit salary hikes since the pandemic, as demand for skilled workers increased. Despite the hikes, the attrition rate still stands at 20.3%, which is marginally lower than last year’s 21%, shows research by <keyword id="240071" type="General" weightage="80" keywordseo="aon" source="Orion">Aon</keyword>, a leading global professional services firm. In its latest Salary Increase Survey in India, data across 1,300 companies from more than 40 industries in the country was analysed. The attrition rate in India is steadily rising, going up more than 7% within the last two years. Separately, a DivHERsity Report by <keyword id="3784193" type="General" weightage="50" keywordseo="jobsforher" source="Orion">JobsForHer</keyword> found that more women than men had to quit the workforce in 2021.In reference to 'The <keyword id="12242899" type="General" weightage="50" keywordseo="great-resignation" source="Orion">Great Resignation</keyword>’, the report reveals the overall attrition rate among the employees was 9% while the attrition rate among women professionals was 13%. “Sectors most affected by attrition were e-commerce, <keyword id="34523" type="General" weightage="50" keywordseo="fmcg" source="Orion">FMCG</keyword>, hi-tech jobs and startups, despite them reporting the highest salary increase post pandemic. There is a huge demand for jobs in these sectors but we are witnessing a resignation wave parallelly,” said <keyword id="323309" type="General" weightage="50" keywordseo="jang-bahadur-singh" source="Orion">Jang Bahadur Singh</keyword>, director, <keyword id="15086498" type="General" weightage="50" keywordseo="human-capital-solutions-at-aon" source="Orion">Human Capital Solutions at Aon</keyword> in India. A majority of the attrition rate comes from voluntary resignation, i.e when the employee leaves the job voluntarily, taking up 17.5% of the attrition percentage. The attrition rate is expected to remain in double-digits in 2023 as well. “We also witnessed that war for talent has transcended sectoral boundaries and talent fungibility. As supply struggles to match demand, people costs and attrition numbers will continue to be high,” Aon said. To retain talent, Aon suggested organisations hire for skills, allow flexible working and gig jobs and focus on revamping employee value proposition (<keyword id="192404" type="General" weightage="50" keywordseo="evp" source="Orion">EVP</keyword>) through rewards. The survey revealed that salaries in India are expected to increase by 10.4% in 2023, compared to an actual increase of 10.6% to date in 2022, which is slightly higher than the 9.9% increase projected in February. “Volatility is a key determinant of salary increases by industries – the top salary increases are in the most volatile industries. Businesses must create holistic rewards strategies unique to their situation and sector to retain and attract the talent they need. Data-driven insights give employers the clarity and confidence needed to make better decisions,” Singh added. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/careers/news/india-inc-set-to-offer-average-salary-hikes-of-at-least-10-4-in-2023-says-aon/articleshow/94452941.cms">India inc. set to offer average salary hikes of at least 10.4% in 2023, says Aon</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/nifty50-sensex-start-on-a-negative-note-ahead-of-rbi-policy-meeting-this-week/articleshow/94445282.cms">Sensex down 1.2%, Nifty50 slips below 17,000 briefly – Analysts expect steeper fall if global weakness persists</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/mandira-bedi-to-yuvraj-singh-here-are-celebrity-homes-you-can-book-for-staycations/articleshow/94450212.cms">From Mandira Bedi to Yuvraj Singh, here are celebrity homes you can book for staycations</a>

Great resignation impact being felt in India as attrition rate remains elevated at 20% in 2022

<ul><li>Wipro plans to increase its freshers headcount by 30,000 in 2023.</li><li>The attrition rate has gone up to 22%.</li><li>Wipro has decided to close its offices globally for the next four weeks.</li></ul>IT services giant Wipro plans to hire 30,000 freshers in 2023 as attrition rate increases to 22%. In the current financial year ending March 2022, the company would have hired 70% more freshers compared to last fiscal, Chief Financial Officer Jatin Dalal said. Rise in attrition leads to higher employee cost and narrower margins. This has been a problem for all technology companies in India in recent months. For Wipro, the rate of employees leaving the company has been the highest in the December quarter. <div type="image" title="Wipro attrition rate" msid="88855764" hostid="261" caption="&amp;lt;p&amp;gt;Wipro attrition rate&amp;lt;/p&amp;gt;"></div> The management assured investors that it expects the attrition to moderate in the coming months and that it will not allow the lack of hands to affect the spike in demand from clients. Wipro has decided to close its offices globally for the next four weeks. The company CEO Delaporte stated that the return to offices would be re-calibrated based on the evolving situation of the pandemic. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/tech/enterprise/news/wipro-guidance-for-dollar-revenue-is-2-to-4-percent/articleshow/88854705.cms">Wipro CEO says dollar revenue will grow 2-4% in the next three months</a>

Wipro increases hiring plan to 30,000 as attrition hits a new high

<ul class="summary-list"><li>Western militaries aren't ready to fight wars of attrition like the Ukraine war, a former Army officer argues.</li><li>Great power conflict may not be quick and decisive and could boil down to attrition.</li></ul>There's a real possibility that a future great-power war might look a lot like Ukraine, and Western militaries aren't as ready as they should be for this kind of long, bloody fight, a former Army officer argued in a new article.Though its hard to say when talking <a target="_blank" href="https://www.businessinsider.com/top-general-us-army-would-be-key-player-war-pacific-2024-2">major powers</a> with nuclear arsenals, great-power conflict could result in a protracted attritional kind of warfare. Western militaries haven't been preparing for that type of fighting, and it may need a change in strategy, resource management, and training."In attritional wars, military operations are shaped by a state's ability to replace losses and generate new formations, not tactical and operational manoeuvres," retired US Army lieutenant colonel Alex Vershinin explained in a Royal United Services Institute commentary, "The Attritional Art of War: Lessons from the Russian War on Ukraine," published Monday. Unlike maneuver warfare, which is aimed at quickly and violently defeating an enemy, the attritional fight takes time, maybe years."The side that accepts the attritional nature of war and focuses on destroying enemy forces rather than gaining terrain is most likely to win. The West is not prepared for this kind of war," he said.Vershinin noted that Western militaries have long seen attritional conflicts as exceptions to be avoided at all costs in favor of the shorter, maneuver-focused clashes. Rather than a "decisive battle" through maneuver warfare, "attritional warfare focuses on destroying enemy forces and their ability to regenerate combat power, while preserving one's own," he wrote, noting that a successful attritional strategy "accepts that the war will last at least two years."Between near-peer rivals, such as China and the US, victory in combat may be about who has the ability to replace losses and keep fighting. Stronger military powers are far more likely to have <a target="_blank" href="https://www.businessinsider.com/war-ukraine-showing-us-army-soldiers-threats-of-future-fight-2024-2">widely available resources and recruits</a>, meaning fighting could drag on, similar to what's being seen in Ukraine, where the Russians are battling NATO-backed forces in Kyiv.<div type="image" title="A Ukrainian soldier loads a machine gun inside a trench amid Russia and Ukraine war in Donetsk Oblast, Ukraine on August 17, 2023." height="683" width="1024" msid="108597943" hostid="261" sizebytes="83820"></div>On both sides of the war, firepower has proven vital, as has the ability to outgun and outlast, chipping away at enemy positions and maintaining pressure. After Ukraine initially fought off Russia's invasion of Kyiv in the early weeks of the full scale invasion, <a target="_blank" href="https://www.businessinsider.com/us-sending-one-aid-package-ukraine-funding-ends-white-house-2023-12">Western assistance packages</a> largely helmed by the US gave it the ammunition it needed to both defend itself and attack Russian positions.The rate of fire in Ukraine has been astonishing — Russian forces averaged 15,000 shells a day throughout 2022 — and both sides have been burning through stockpiles. Both the West and Russia have ramped up production and industrial capacity to meet demand, and the war has since prompted the US Army to at least question how much ammunition it actually <a target="_blank" href="https://www.businessinsider.com/us-army-rethinking-how-much-ammunition-it-needs-ukraine-war-2023-11">needs to fight future conflicts</a>."Wars of attrition are won by economies enabling mass mobilization of militaries via their industrial sectors," Vershinin wrote in his RUSI commentary. "Armies expand rapidly during such a conflict, requiring massive quantities of armored vehicles, drones, electronic products, and other combat equipment."Important, too, is <a target="_blank" href="https://www.businessinsider.com/storm-shadow-missile-central-to-ukraine-counter-offensive-expert-2023-6">the ability to strike deep into enemy territory</a>, overwhelm defenses, and target its facilities and infrastructure. This aspect has been seen throughout the war in Ukraine as well, with both sides using a mix of long-range assets and drones to target energy hubs, civilian centers, and other key sectors with the purpose of damaging production and supply lines.<div type="image" title="Ukrainian soldiers fire with the Archer Artillery System on Russian position on January 3, 2024 in Donetsk Oblast, Ukraine." height="1821" width="2732" msid="108597945" hostid="261" sizebytes="125928"></div>The war in Ukraine has also demonstrated the importance of being able to quickly replenish depleted forces, making up for high casualties on the battlefield.Russia has been able to do this successfully, rebuilding manpower <a target="_blank" href="https://www.businessinsider.com/russia-can-sustain-major-losses-ukraine-2-more-years-analysts-2024-2">despite suffering high losses</a>, upwards of over 300,000 casualties according to Western estimates. Ukraine currently faces a shortage of recruits, and its parliament is currently debating a bill intended to expand mobilization and enforce stricter draft rules.Ukrainian President Volodymyr Zelenskyy has been warning for months that the army faces a severe shortage of qualified troops on the front but has not been able to present a clear strategy for how to conscript or recruit the forces needed. The president's former top commander, Gen. Valery Zaluzhny, often argued for further mobilization.According to Vershinin, Western forces could face personnel issues, as their NATO armies value professional and experienced non-commissioned officers (NCOs) and troops that, if taken out of battle, aren't easily replaceable."The most effective model" for an army, he wrote, is a balanced mixture of a NATO-style "medium-sized professional army" with a Soviet-style "mass of draftees available for mobilization."Future large-scale conflicts could also look a lot like the battlefields in Ukraine in other ways, potentially riddled with challenging technologies like evolutions in electronic jamming and drones, as well as artillery, mines, and traditional infantry. This makes logistics and planning key, adding complexities to fighting.

Western militaries need to start figuring out how to fight long and bloody attritional wars like Ukraine, former Army officer warns

<ul><li>Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter.</li><li>Also, the IT major’s attrition rate is worse in the industry compared to other Indian peers.</li><li>The company is looking to hire 50,000 employees in FY23 as against 85,000 it hired in FY22.</li></ul>Infosys, India’s second-biggest information technology (IT) company in terms of market capitalisation, continues to be the biggest victim of the talent war with a high number of employees leaving the organisation. Infosys’ attrition worsened more in the January-March quarter reaching at 27.7% from 25.5% in the previous quarter. The IT major’s attrition rate is worse in the industry compared to other Indian peers, even more than TCS’ attrition rate of 17.4% in the same quarter. <div type="image" title="infosys attrition" height="900" width="1200" msid="90826018" hostid="261"></div>However, the management at Infosys said the attrition rate has come down on a quarterly basis as against the LTM (last twelve months) data disclosed. Moreover, it expects the attrition rate to decline gradually as it also kicks off hikes from April 1. “Attrition for the quarter has come down by close to 5% both in percentage and absolute headcount. So we talked that last quarter attrition had actually stabilised… of course the tail effect will continue to climb. Good news is we have seen stability and of course the intervention we are looking at like the April 1 hike plan, we should continue to see some improvement in them,” said Nilanjan Roy, chief financial officer at Infosys. Further, the company is looking to hire more than 50,000 employees in FY23 as against 85,000 it hired in FY22. Infosys has an employee base of 3.14 lakh, half of what TCS has. The company’s net profit for the March quarter rose about 12% to ₹5,686 crore with revenue growth of 22.7% year-on-year at ₹32,276 crore. Infosys has set a revenue growth guidance of 13-15% for FY23. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/gautam-adanis-green-energy-firm-now-even-bigger-than-hdfc-bajaj-finance-bharti-airtel/articleshow/90819094.cms">Gautam Adani’s renewable energy firm now bigger than HDFC, Bajaj Finance, and Bharti Airtel</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/web-3-0-saas-and-fintech-will-be-big-investment-focus-for-2022/articleshow/90819387.cms">Web 3.0, SaaS and fintech will be big focus areas for 2022 even though early stage investments are expected to slow down</a>

Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down

<ul><li>One of the top five IT services companies, <keyword id="43217" type="General" weightage="20" keywordseo="tech-mahindra" source="Orion">Tech Mahindra</keyword> reported a 25% decline in net profit for April-June quarter.</li><li>The management attributed the decline in profitability to rising employee benefits costs, which includes promotions and salary hikes.</li><li>However, high spending towards retaining employees by giving hikes and promotions has paid off the firm’s attrition rate, which has come down to 22% from 24% last quarter.</li><li>Tech Mahindra’s attrition is still better than peers Infosys (28.4%) and TCS (23.3%).</li></ul>A fourth of Tech Mahindra’s first quarter revenues were eaten up by employee expenses, pushing its profits down by 25% on a sequential basis. The company’s CEO C P Gurnani says that this wage hike has reduced its attrition by 2% from last quarter, and predicts that it will reduce by another 4% in six months. But when asked for specifics, he said, “Attrition is as hard to predict as death,” at the post-earnings press conference. Its total income grew marginally by around 3% to ₹12,830 crore sequentially. Its constant currency revenue growth stood at 3.5%, the company said in its press release. “We are confident that we will be presenting to you continuously over the next few quarters industry leading growth. We are also confident that we will have an opportunity to work on the profitability levers,” said Gurnani. High spending towards retaining employees by giving hikes and promotions has aided as Tech Mahindra’s attrition rate has come down to 22% from 24% last quarter. If it’s able to keep up with its predictions, in the next two quarters, it could come down to 18%. Tech Mahindra’s attrition is still better than peers Infosys which is at 28.4% and that of TCS at 23.3%. Tech Mahindra’s expenses shot up 30% on year and 7% sequentially in June quarter to ₹8,937 crore and most of it was due to wage hikes, promotions and more. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Employee benefit expenses </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Amount </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹3,286 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,945 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹2,601 crore </td></tr></tbody></table> “Delivery transformation, cost optimization and cash conversion will be key focus areas, as we continue to offset the strong supply side headwinds in the market. We aim to expand our profitability through operational excellence and improved operating metrics over the course of FY’23,” Rohit Anand, chief financial officer at Tech Mahindra said. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Particulars </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q4 FY22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Q1 FY22 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Revenue </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,830 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹12,436 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹10,484 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Net profit </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,147 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,545 crore </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">₹1,365 crore </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Margin </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">14.8% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">17.2% </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">18.4% </td></tr></tbody></table> SEE ALSO <a class="tout-title-link" href="https://www.businessinsider.in/policy/economy/news/house-of-cards-goldman-sachs-cuts-msci-china-index-earnings-forecast-to-zero/articleshow/93113216.cms">House of cards: Goldman Sachs cuts MSCI China's earnings forecast to zero</a> <a href="https://www.businessinsider.in/india/news/india-has-the-highest-rate-of-women-taking-action-against-harassment-calls-and-messages/articleshow/93107553.cms">India has the highest rate of women taking action against harassment calls and messages</a> <a href="https://www.businessinsider.in/science/health/news/monkeypox-outbreak-in-india-heres-what-we-know-so-far-about-symptoms-prevention-of-the-infection/articleshow/93111853.cms">Monkeypox outbreak in India: Here’s what we know so far about symptoms, prevention of the infection</a>

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

Happy Friday, readers. Employees are fleeing from <a href="https://www.businessinsider.com/amazon-prime-air-attrition-drone-delivery-employee-turnover-2021-2022-5">Amazon's Prime Air drone division</a>, and in case you've ever wished you had a tiny house to put in the backyard of your regular-sized house, <a href="https://www.businessinsider.com/photos-startup-building-prefab-electric-backyard-tiny-homes-2022-5">we've got just the startup for you</a>.Ready? Let's dive in.If this was forwarded to you, <a href="https://www.businessinsider.com/subscription/newsletter/10-things-in-tech">sign up here</a>. Download Insider's app – click <a href="https://apps.apple.com/app/apple-store/id554260576">here for iOS</a> and <a href="https://play.google.com/store/apps/details?id=com.freerange360.mpp.businessinsider">here for Android</a>.<a href="https://www.businessinsider.com/amazon-prime-air-attrition-drone-delivery-employee-turnover-2021-2022-5"></a>1. At Amazon's drone delivery division, attrition soars. <a href="https://www.businessinsider.com/amazon-prime-air-attrition-drone-delivery-employee-turnover-2021-2022-5">Leaked documents obtained by Insider</a> show Amazon's ambitious Prime Air drone division had a 30% turnover rate in 2021, and that its drone-testing team is losing more than 70% of employees. <ul><li>This turnover rate is significantly higher than the <a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-teams-march-all-hands-meeting-2021-7">previous year's 20%</a> and more than four times higher than Amazon's annual 6% target for what it calls <a href="https://www.businessinsider.com/amazon-tracks-unregretted-attrition-rate-people-not-sad-to-lose-2021-4">"unregretted attrition." </a></li><li>The unusually high turnover comes at a time of flux and internal turmoil: employees have left amid cultural clashes between new hires and longtime staff, <a href="https://www.businessinsider.com/amazon-prime-air-drone-delivery-cost-63-per-package-2025-2022-4">high costs</a>, and <a href="https://www.businessinsider.com/amazon-drone-crashes-delivery-prime-air-faa-documents-2022-3">delays from testing accidents</a>, among other things.</li><li>According to the documents, the soaring rates of attrition have led to delays in meeting project goals within the division.</li></ul><a href="https://www.businessinsider.com/amazon-prime-air-attrition-drone-delivery-employee-turnover-2021-2022-5">Here's what else we found in the leaked documents.</a>In other news:<a href="https://www.businessinsider.com/elon-musk-likely-temporary-twitter-ceo-cnbc-report-2022-5"></a><div type="image" title="Elon Musk." height="1991" width="2654" msid="91373799" hostid="261"></div>2. Elon Musk will likely appoint himself as Twitter's CEO. A report from CNBC said <a href="https://www.businessinsider.com/elon-musk-likely-temporary-twitter-ceo-cnbc-report-2022-5">the temporary arrangement would last "a few months"</a> after his takeover of the company. As per The New York Times, Musk has also been busy courting potential investors by saying he can <a href="https://www.businessinsider.com/elon-musk-told-twitter-investors-double-triple-money-buyout-2022-5">double or triple their money</a>. 3. Demand for Slack admin and developer skills is expected to skyrocket. Salesforce is kicking off a major push to get pros certified on Slack, as part of an effort to get its vast network of partners and customers trained on the platform. We outlined how to skill up and land a <a href="https://www.businessinsider.com/slack-training-salesforce-ecosystem-admins-developers-2022-5">Slack job that could pay up to $185,000 a year.</a>4. <keyword id="6358815" type="UNKNOWN" weightage="60" keywordseo="tech" source="Orion">Tech</keyword> companies have donated millions to political committees that oppose abortion. An analysis found Amazon alone has donated $974,718 to anti-abortion organizations, despite its announcement it would cover up to <a href="https://www.businessinsider.com/amazon-to-cover-us-employees-annual-medical-travel-expenses-2022-5">$4,000 per year</a> in travel costs for staff seeking medical treatments — including elective abortion. <a href="https://www.businessinsider.com/amazon-cola-walmart-donate-anti-abortion-political-committee-roe-wade-2022-5">Here's everything else the analysis found.</a>5. A crypto billionaire's exclusive conference in the Bahamas lured people like Bill Clinton and Tom Brady. Hosted by 30-year-old Sam Bankman-Fried, the conference cost upwards of $3,000, and brought together thousands of attendees — including two Insider reporters, who went to give you <a href="https://www.businessinsider.com/crypto-bahamas-conference-photos-ftx-inside-billionaire-sam-bankman-fried-2022-4">an inside look at the exclusive event.</a>6. Shareholders are coming for Activision Blizzard. In a new lawsuit, New York-based pension funds are alleging CEO Bobby Kotick and his board rushed through its $69 billion merger with Microsoft to avoid liability for workplace scandals. <a href="https://www.businessinsider.com/nyc-funds-say-activision-ceo-rushed-microsoft-deal-escape-scandals-2022-5">Get the rundown on the lawsuit.</a>7. Buzzy fintech Revolut has ruled out going public in 2022. As the global IPO market slows, the SoftBank-backed fintech has decided to focus on increasing revenue rather than risk <a href="https://www.businessinsider.com/robinhood-employees-react-to-layoffs-it-grew-too-fast-too-quick-2022-4">the same fate</a> as stock-trading app Robinhood. <a href="https://www.businessinsider.com/revolut-rules-out-ipo-valuation-focus-growth-2022-5">What we know so far.</a>8. Tech companies want to go passwordless. Apple, Microsoft, and Google announced yesterday that they're committed to working on passwordless sign-in processes across all the platforms they control. <a href="https://www.theverge.com/2022/5/5/23057646/apple-google-microsoft-passwordless-sign-in-fido">The Verge explains what that means.</a>Odds and ends:<a href="https://www.businessinsider.com/photos-startup-building-prefab-electric-backyard-tiny-homes-2022-5"></a><div type="image" title="A Cosmic ADU with floor-to-ceiling windows showing modern decor inside the unit. The non-windowed walls are grey. It's sunny out." height="1813" width="2417" msid="91373800" hostid="261"></div>9. A startup is building solar-powered tiny homes that can fit in your backyard. The prefab tiny homes, which people are adding to their yards to use as rental units, offices, gyms, and more, can also supply excess energy to the main home. <a href="https://www.businessinsider.com/photos-startup-building-prefab-electric-backyard-tiny-homes-2022-5">Take a closer look at the units.</a>10. Ford took a swipe at space-obsessed billionaires in a new ad. Focusing on the space race between figures like Elon Musk and Jeff Bezos, the spot jabs at billionaires who "fly away on their own personal space ships when things get hard." <a href="https://www.businessinsider.com/ford-elon-musk-billionaire-space-race-commercial-f150-2022-5">You can watch the full commercial here.</a> The latest people moves in tech:<ul><li>Second Life just hired <a href="https://www.businessinsider.com/second-life-hires-cmo-metaverse-meta-roblox-2022-4">Steven Feuling as its first-ever CMO</a>.</li><li>Google Cloud's leadership is shuffling as top executives depart. <a href="https://www.businessinsider.com/google-cloud-top-executives-leadership-rob-enslin-2022-4">Here are the 12 most important execs now leading the company.</a></li><li>Michael Sayman, Twitter's Gen Z advisor, <a href="https://www.businessinsider.com/michael-sayman-resigns-twitter-amid-musk-takeover-2022-5">quit less than two months after joining.</a></li><li>According to Bloomberg, Apple hired <a href="https://www.bloomberg.com/news/articles/2022-05-03/apple-hires-31-year-ford-executive-to-ramp-up-electric-car-work?cmpid=BBD050422_TECH&amp;utm_medium=email&amp;utm_source=newsletter&amp;utm_term=220504&amp;utm_campaign=tech">a 31-year Ford veteran</a> to help its electric vehicle ambitions.</li><li>These nine recent hires are transforming JPMorgan Chase as it races <a href="https://www.businessinsider.com/jpmorgan-chase-hires-transforming-bank">to attract Gen Z customers.</a></li></ul>Event invite: Join us on May 9 at 1 p.m. ET for a panel discussion on how to break into tech without experience — and finally land that six-figure salary. <a href="https://newsletter.businessinsider.com/click/27602323.117156/aHR0cHM6Ly93d3cuYnVzaW5lc3NpbnNpZGVyLmNvbS9ob3ctdG8tYnJlYWstaW50by1hLXRlY2gtY2FyZWVyLXdpdGhvdXQtZXhwZXJpZW5jZS1jb2RpbmctZW5naW5lZXItMjAyMi00P25yX2VtYWlsX3JlZmVyZXI9MSZ1dG1fc291cmNlPVNhaWx0aHJ1JnV0bV9tZWRpdW09ZW1haWwmdXRtX2NvbnRlbnQ9MTBfdGhpbmdzX3RlY2g/60366364dfdc8c0e2b42fe82Bc3d239b3">Register here.</a>Keep updated with the latest tech news throughout your day by checking out<a href="https://link.chtbl.com/therefresh"> The Refresh from Insider,</a> a dynamic audio news brief from the Insider newsroom. <a href="https://link.chtbl.com/therefresh">Listen here.</a>Curated by Jordan Parker Erb in New York. (Feedback or tips? Email <a href="mailto:jerb@insider.com">jerb@insider.com</a> or tweet <a href="https://twitter.com/jordanparkererb?lang=en">@jordanparkererb</a>.) Edited by Hallam Bullock (tweet <a href="https://twitter.com/hallam_bullock">@hallam_bullock</a>) in London.

10 Things in Tech: Attrition at Amazon

Here’s how attrition and wage costs are dampening Indian IT companies’ results

<ul><li>TCS announced that its employee attrition rate continued to rise during the January-March quarter as well, reaching 17.4%.</li><li>However, the company’s management said that the attrition rate is cooling off and may come down after a few quarters.</li><li>The IT major has hired over 1 lakh employees in FY22, taking the total count to almost 6 lakh people.</li></ul>The rate of employees leaving information technology (IT) firms continues to remain high as opportunities across the sector are growing with high digital acceptance across industries. However, the rise in attrition rate pushes such companies to hire more employees at competitive salaries, which eventually impacts their incomes. Today, Tata Consultancy Services (TCS) announced that its employee attrition rate continued to rise during the January-March quarter reaching 17.4%. <div type="image" title="tcs attrition" height="900" width="1200" msid="90783459" hostid="261"></div>However, the company’s management said that the attrition rate is cooling off and may come down after a few quarters. “The reported attrition number of 17.4% will get worse for the next couple of quarters just because of the way LTM attrition is calculated. But what we are seeing is that on a month on month basis, we are starting to see flattening of it. So in absolute terms our attrition still went up this quarter compared to last quarter, but in percentage terms it has actually started to flatten and we think that the trend will continue into next quarter. So will [sic] have to wait and see, early days yet, but the curve is definitely flattening,” said Rajesh Gopinathan, chief executive officer (CEO) at TCS in a press conference for Q4 earnings release. The employee benefits expenses, which usually includes health insurance benefits, transport facilities, work from home policy and education assistance for retaining and hiring an employee grew by ₹15,740 crore in FY22 compared to the previous financial year. This shows a big hit on the firm’s expenses. The issue is not limited to TCS, but each IT firm in the industry as companies are hiring more employees with good hikes, promotions to mitigate those leaving the firm. On a brighter side, the IT major has hired over 1.03 lakh employees in FY22 with an army of almost 6 lakh people. TCS added 35,209 employees in the last three months. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/electric-two-wheeler-sales-surge-over-5-times-in-2021-22/articleshow/90775731.cms">Electric two-wheeler sales surge over 5 times – Hero Electric, Okinawa corner half the market, Ather’s market share declines</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/corporates/news/adani-power-and-tata-power-in-a-race-to-cross-1-lakh-crore-market-value/articleshow/90776914.cms">Adani Power and Tata Power in a race to cross ₹1 lakh crore market value</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/startups/news/koo-founder-invites-elon-musk-after-he-turns-down-twitter-board-seat/articleshow/90780040.cms">Koo cofounder urges Elon Musk to work with Twitter’s rival in India</a>

TCS CEO expects more employees to leave the firm in the coming months, but he is not worried about it — Here is why

<ul class="summary-list"><li>Attrition at Amazon costs the company $8 billion a year, according to Engadget.</li><li>Workers were also twice as likely to leave by choice than to be fired or laid off, per the outlet.</li></ul>Amazon is facing an attrition problem that's costing the company billions, according to <a href="https://www.engadget.com/amazon-attrition-leadership-ctsmd-201800110.html?guccounter=1" target="_blank" rel="noopener noreferrer">Engadget</a>.The outlet said its report was based on leaked documents it had obtained, including internal research papers, slide decks, and spreadsheets.Engadget reported that one document dated early 2022 calculated that "high levels of attrition (regretted and unregretted) across all levels" in its global consumer field operations were costing the company an estimated $8 billion each year. Amazon did not immediately respond to Insider's request for comment made outside normal working hours. However, a spokesperson told Engadget: "As a company, we recognize that it's our employees who contribute daily to our success and that's why we're always evaluating how we're doing and ways we can improve. Attrition is something all employers face, but we want to do everything we can to make Amazon an employer of choice."Engadget reported that the company declined to confirm or deny any of the specific claims or figures reported in the documents.The news outlet said that another document stated that in 2021, only a third of new hires stayed at the company for more than 90 days before being laid off, fired, or leaving by choice.Workers across the company were also twice as likely to leave by choice than to be fired or laid off, Engadget reported. Amazon employees are divided into 10 tiers of seniority. The company's lowest attrition rate out of the 10 tiers was 69.5%, while the highest reached 81.3%, per Engadget.One of the papers stated that: "The primary reason exempt leaders are resigning is due to career development and promotions."Amazon has been facing increased attrition and <a href="https://www.businessinsider.com/amazon-executive-shake-up-retail-operations-herrington-boler-davis-bozeman-2022-6">executive turnover</a> throughout the last year. In June this year, <a href="https://www.businessinsider.com/amazon-tests-new-survey-program-connections-employee-sentiment-attrition-turnover-2022-6">Insider reported</a> that Amazon was testing a new internal survey aimed at learning more about employee sentiment.

You Searched For "Attrition" and got 12 results

The attrition at Infosys is worse than that at Wipro, Salil Parekh has increased hiring plan by 10,000

BI India Bureau

An upbeat job market means higher attrition levels as well. Know why!

BI India Bureau

Hectic jobs in retail and quick service restaurants is leading to high attrition: Report

Vaamanaa Sethi

Great resignation impact being felt in India as attrition rate remains elevated at 20% in 2022

Eetika Kapoor

Wipro increases hiring plan to 30,000 as attrition hits a new high

BI India Bureau

Western militaries need to start figuring out how to fight long and bloody attritional wars like Ukraine, former Army officer warns

Chris Panella

Infosys is looking to hire 50,000 employees this year while expecting the attrition rate to come down

Bhakti Makwana

Attrition is as hard to predict as death says C P Gurnani after TechM loses profits to wage hikes

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10 Things in Tech: Attrition at Amazon

Jordan Parker Erb

Here’s how attrition and wage costs are dampening Indian IT companies’ results

Business Insider India

TCS CEO expects more employees to leave the firm in the coming months, but he is not worried about it — Here is why

Bhakti Makwana

Attrition at Amazon is costing the company $8 billion a year, with workers twice as likely to leave by choice than be fired, report says

Beatrice Nolan

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