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<ul><li>While the demand for IT services companies remains robust with the evolving digital environment, high attrition rates remain a top concern for IT firms.</li><li><keyword id="6357150" type="General" weightage="20" keywordseo="tcs" source="Orion">TCS</keyword>, <keyword id="6354512" type="General" weightage="20" keywordseo="infosys" source="Orion">Infosys</keyword> and <keyword id="10862" type="General" weightage="20" keywordseo="wipro" source="Orion">Wipro</keyword> will together hire 1.53 lakh employees in FY22 to hedge against employees leaving.</li><li>Wipro’s attrition rate remains highest at 20.5% followed by Infosys at 20.1% and TCS at 11.9%.</li></ul>While the demand for information technology (IT) services companies remains robust with the evolving digital environment, a huge number of employees leaving these organisations remain a top concern for IT firms. <br /><br />Attrition rate of IT companies has been rising consistently and in-line with growing demand for digital talent. <br /><br />With the earnings results available so far for the September quarter, Wipro has the highest attrition rate, among IT firms, at 20.5% followed by Infosys at 20.1% and <keyword id="6357585" type="General" weightage="20" keywordseo="tata-consultancy-services" source="Orion">Tata Consultancy Services</keyword> (TCS) at 11.9%.<br />      <div type="image" title="attrition chart" height="900" width="1200" msid="87013677" hostid="261"></div><br />However, a report by human resource solutions firm TeamLease shows that the average attrition rate in the IT industry was at 8.67% in September quarter, far less than what the big IT firms have reported.<br /><br />One of the key concerns of IT employees for leaving an organisation is muted growth in increments followed by poor employee benefits, rewards, digital skilling and so on, shows a ‘compensation benchmarking survey’ by Deloitte India and software firms’ lobby NASSCOM. <br /><br />The average increments for the technology services sector in India dropped from 9.5% in 2019 to 5.2% in 2020, which later increased to 8.8% in 2021 due to higher attrition rate. Average increments are expected to go up to 9% to 11% in 2022, said the report. <br /><br />        <div type="image" title="compensation" height="900" width="1200" msid="87013730" hostid="261"></div><br />IT companies are all set to hire in bulk from campuses as they struggle to retain employees with the increasing demand for digital talent. <br /><br />TCS, which has already hired 43,000 freshers in the first half of FY22, expects to hire another 35,000 in the next six months. This takes up the total count of FY22 to 78,000 new employees.<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">IT companies<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">FY22 hiring<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">45,000<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">30,000<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">78,000<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table><br />“We believe this attrition level will continue for the next 2-3 quarters. Having said that, our strong employer brand and our robust talent acquisition and talent development models will help us significantly overcome the supply side issues…We will continue to hire more and more and keep the supply ready since our model is robust. The attrition level is definitely concerning, but we can manage through that,” said Milind Lakkad, global head of human resources at TCS, in a press conference post earnings.<br /><br />High attrition rate in some of the largest IT companies in the country is expected to continue for the coming quarters and so is the huge hiring process. <br /><br />“In order to harness the full potential of the market opportunity, we are expanding our college graduates hiring program to close to 45,000 for the year. Simultaneously, we continue to strengthen employee value propositions including health and wellness measures, reskilling programs, appropriate compensation interventions and enhanced career growth opportunities,” said Pravin Rao, chief operating officer at Infosys. <br /><br />TCS is one of the biggest employers in the country with 5.28 lakh employees as of September quarter.<br /><table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Companies<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Total headcount<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">TCS<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">5.28 lakh<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Infosys<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.79 lakh<br /><br /></td></tr><tr><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">Wipro<br /><br /></td><td style="border-left:solid #000000 0.75pt;border-right:solid #000000 0.75pt;border-bottom:solid #000000 0.75pt;border-top:solid #000000 0.75pt;vertical-align:bottom;padding:2pt 2pt 2pt 2pt;overflow:hidden;overflow-wrap:break-word;">2.21 lakh<br /><br /></td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>At 11:12 a.m., on October 14, shares of Wipro were up 7%, Infosys stock was up 2% and TCS stock was down by 0.8%. <br /><br />ALSO WATCH: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/videos/talent-from-large-it-firms-has-been-flowing-towards-indias-tech-startups/videoshow/87014361.cms">Talent from large IT firms has been flowing towards India's tech startups</a><br /><br />SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/ecommerce/news/three-unicorns-hundreds-of-crore-in-loss-and-very-little-market-share-whats-the-hype-around-online-car-retailers/articleshow/87012417.cms">Three unicorns, hundreds of crore in loss and very little market share — What's the hype around online car retailers?</a><br /><br /><a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/stock-market/news/infosys-wipro-vodafone-idea-and-other-hot-stocks-in-focus-on-october-14-as-results-season-heats-up/slidelist/87010496.cms">Infosys, Wipro, Vodafone Idea and other hot stocks in focus on October 14 as results season heats up</a>

India’s techies are leaving IT firms in hordes — Here’s why

<br /> The choice between motherhood and work is often a difficult decision for women across the globe. However, <keyword id="6354923" type="COMPANY" weightage="80" keywordseo="Vodafone-India">Vodafone India</keyword> women employees needn’t worry about it. The company has come up with a new maternity policy that offers 16 weeks of paid <keyword id="78369" type="UNKNOWN" weightage="80" keywordseo="maternity-leave">maternity leave</keyword>, one working week of paternity leave, and 6 hours per day for 6 months post return from maternity for child care. <br />
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“The extended maternity leave and only 30 hour work week for 6 months will help returning mothers transition comfortably into the workplace as well as attend to her child's nursing needs. To benefit the new fathers, the telecom service provider has introduced paternity leave, which will enable them to bond with the baby and be around with the family during this precious family time,” reveals an ET report.<br />
Vodafone has taken this decision to maintain gender diversity at the workplace and retain women employees.<br />
<br />
"Women account for 35% of our employees worldwide but only 21% of our international senior leadership team. We believe our new maternity policy will play an important role in helping to bridge that gap. Supporting working mothers at all levels of our organisation will ultimately result in better decisions, a better culture and a deeper understanding of our customers' needs," he further adds.<br />
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This new policy amendment brings cheer to over 1,000 Vodafone women employees across the globe and will also help Vodafone save approximately $19 billion annually. As mentioned in the ET report, “…KPMG estimated that recruiting and training new employees to replace women who do not stay in the workforce after having a baby costs global businesses $47 billion every year, offering women 16-weeks of fully paid maternity leave rather than the statutory minimum would cost businesses an additional $28 billion a year; and if businesses were able to retain more women in the workforce after their maternity leave, they could save up to $19 billion a year and would retain the knowledge and experience of these women with positive consequences for productivity and effectiveness.” <br />
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(Image: Reuters)<br />
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This is what Vodafone India did to cheer its women employees

<ul><li><strong>The government has refused to make <keyword id="764355" type="PERSON" weightage="20" keywordseo="5G">5G</keyword> spectrum cheaper on the recommendations of the <keyword id="30356" type="COMPANY" weightage="20" keywordseo="Telecom-Regulatory-Authority-of-India">Telecom Regulatory Authority of India</keyword> (TRAI).<br /></strong></li><li><strong>The government is also looking at options to extend the payment time for the spectrum from 10 years to 16 years.<br /></strong></li><li><strong>The government is also working on reducing the upfront price for the auction by 5-10%.<br /></strong></li></ul>The government has refused to make 5G spectrum cheaper ahead of the upcoming auctions. But it is providing a lifeline to telecom companies, making it easier for them to own it, by spreading payments for it, by over 16 years, according to a <a href="https://www.business-standard.com/article/economy-policy/telecom-operators-likely-to-get-16-years-to-pay-for-5g-spectrum-119071200058_1.html">Business Standard report</a>. <br /><br />This comes as good news for telecom companies like <keyword id="10926" type="DOMAIN" weightage="20" keywordseo="Reliance">Reliance</keyword> <keyword id="2003276" type="COMPANY" weightage="20" keywordseo="Jio">Jio</keyword>, <keyword id="6354287" type="COMPANY" weightage="20" keywordseo="bharti-airtel">Bharti Airtel</keyword> and <keyword id="15492" type="COMPANY" weightage="20" keywordseo="Vodafone">Vodafone</keyword> Idea, who have raised concerns over the high base price set by the government. <br /><br />To ease the burden of already debt-laden companies, the government is known to be studying options to lower the upfront payment to 5-10% of the total value of the spectrum they purchase. <br /><br />This development has come after the Telecom Regulatory Authority of <keyword id="3658" type="LOCATION" weightage="20" keywordseo="India">India</keyword> (TRAI) stuck at its recommended reserve price of ₹492 crore per MHz for the prized 5G spectrum which can provide ultra high-speed Internet connections.<br /><br />This move, if taken, will be in line with the recommendations of the Digital Communications Commission (DCC) made last year in January. It said spectrum should be paid for in 10-16 years, to solve the sector’s difficulties. <br /><br /><strong>Tough environment <br /></strong><br />Lowering margins and increased competition have pushed many telcos into the red. Bharti Airtel has a net debt of ₹108,235 crore as on <a href="https://www.livemint.com/industry/telecom/airtel-arpu-grows-6-5-to-rs-123-in-jan-mar-2019-1559240368545.html">May 2019</a>. Vodafone Idea is in no better position as it has <a href="https://telecom.economictimes.indiatimes.com/news/vodafone-idea-q4-loss-narrows-to-rs-4847-3-cr-revenue-arpu-up-on-quarter/69310775">debt to the </a>tune of ₹118,00 crore. Reliance Jio which kickstarted the data price war has shored up its parent company debt. Its current liabilities with a variety of businesses under it from oil to retail went by ₹27,000 crore in a year, leaving it with less headroom for heavy investments.<br /><br />As expected, the telecom provides have been unhappy with the prices. <br /><br />“These prices are exorbitant, given that the state of 5G ecosystem is still nascent. So, we would hope that the government brings the prices of spectrum,” <a href="https://www.communicationstoday.co.in/telecom-operators-likely-to-get-16-years-to-pay-for-5g-spectrum/">said</a> Bharti Airtel MD and CEO. <br /><br />Vodafone-Idea chief executive Balesh Sharma also termed the prices as exorbitant, while Reliance Jio’s Senior Vice President V L Shankar said “We need large bandwidth of 5G and at attractive prices.”<br /><br />In 2016, telecom operators had missed the auction of 700 MHz 5G spectrum auctioned last year. <br /><br /> <br /><br /><br />

You Searched For "vodafone leaving india" and got 3 results

India’s techies are leaving IT firms in hordes — Here’s why

Bhakti Makwana

This is what Vodafone India did to cheer its women employees

BI India Bureau

5G spectrum auctions might have a ‘buy now pay later’ scheme

BI India Bureau

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