Cognizant, Accenture, Infosys, etc., are among the leading IT companies in India experiencing record attrition rates.
One of the main reasons is the growing demand for IT professionals.
Accenture’s attrition rate in the third quarter is now 17%, up from 11% in the same quarter last year.
You can find out everything you need to know in this article!
Accenture, Cognizant, Infosys, Wipro Record Highest Ever Attrition Rates
As per reports, there is a massive demand for IT and Technology professionals, due to which there is an increase in the attrition rate at the leading IT companies like Cognizant, Accenture, Infosys, and Wipro, etc.
In the Jan to March quarter of the financial year 2021, the attrition rate at Cognizant is at an all-time high, at 21%, which was 19% in the same quarter last year.
Whereas Bengaluru-based IT firm Infosys has recorded the highest attrition rate of 15.2% from January to March. Infosys is also the second-biggest IT firm in India.
This was followed by the third biggest IT firm Wipro which clocked 12.1% attrition in the fourth quarter.
Attrition Rate At TCS Lesser Than Others
Then there is TCS, which has quite a low attrition rate compared to its counterparts in the previous quarters. In the fourth quarter, i.e., Jan to March quarter of financial 2021, TCS clocked an attrition rate of 7.2%.
As per Julie Sweet, CEO, Accenture, “We are proud to announce outstanding financial results for the second quarter of fiscal 21, and our return to pre-COVID level financial results a quarter earlier than we expected and with a tough compare.”
She also confirmed a high demand for technology professionals. Therefore the employee attrition rate is back to the way it was before the pandemic hit the country.
Whereas, Brian Humphries, Chief Executive Officer, Cognizant, has said that the employee attrition rate is a significant reason for worry for the company, which is 21% compared to 19% in the previous quarter. He also confirmed that this is the highest rate among the top IT organizations.