Recession Vs attrition

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Many feel that the high number of attritions was partly due to the seasonality impact when junior employees opt for higher studies as well as supply-side constraints. Yet, there are global companies with an attrition of less than 4% for many years.

A report says, Attrition levels which are at an all-time high have unnerved domestic IT services companies as they struggle to retain talent. The attrition rate at Infosys has grown 12% to 27.7% in Q4 of FY22 from a year earlier while at TCS, the attrition rate rose 10% to 17.4% during the same period. In other words, nearly 80,000 employees quit Infosys between January and March this year whereas around 1 lakh resigned from TCS, during the same quarter.

Indian IT companies have spent up to 62% of their revenues towards salaries and wages of their employees, with the total salary bill for FY22 coming in at ₹3 lakh crore. All the three giants, TCS, Infosys and Wipro reported a sequential decline in profits, blaming wage hikes and increased travel costs, among other things.

The management added that attrition will see some moderation only in the second half of this financial year. Probably, that is the immediate short-term view on attrition but from a medium-to-long term, it is expected that both the supply side as well as the demand side is easing up. This is in terms of talent coming from outside of the immediate industry system and that should play into moderation.

There is a growing concern among the Indian IT companies on how to bring attrition rates back under control, but it is critical for them to improve this especially at a time when recessionary concerns have started having an impact on their top as well as bottom lines. Experts say the salary hikes for job switches to normalise as companies see slowdown in attrition.

The fact is the global slowdown is forcing companies to balance hiring against rising expenses. Companies are now focusing on controlling high wage bills.

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  • Watch Recession Vs attrition Video
    Recession Vs attrition

    Many feel that the high number of attritions was partly due to the seasonality impact when junior employees opt for higher studies as well as supply-side constraints. Yet, there are global companies with an attrition of less than 4% for many years.

    A report says, Attrition levels which are at an all-time high have unnerved domestic IT services companies as they struggle to retain talent. The attrition rate at Infosys has grown 12% to 27.7% in Q4 of FY22 from a year earlier while at TCS, the attrition rate rose 10% to 17.4% during the same period. In other words, nearly 80,000 employees quit Infosys between January and March this year whereas around 1 lakh resigned from TCS, during the same quarter.

    Indian IT companies have spent up to 62% of their revenues towards salaries and wages of their employees, with the total salary bill for FY22 coming in at ₹3 lakh crore. All the three giants, TCS, Infosys and Wipro reported a sequential decline in profits, blaming wage hikes and increased travel costs, among other things.

    The management added that attrition will see some moderation only in the second half of this financial year. Probably, that is the immediate short-term view on attrition but from a medium-to-long term, it is expected that both the supply side as well as the demand side is easing up. This is in terms of talent coming from outside of the immediate industry system and that should play into moderation.

    There is a growing concern among the Indian IT companies on how to bring attrition rates back under control, but it is critical for them to improve this especially at a time when recessionary concerns have started having an impact on their top as well as bottom lines. Experts say the salary hikes for job switches to normalise as companies see slowdown in attrition.

    The fact is the global slowdown is forcing companies to balance hiring against rising expenses. Companies are now focusing on controlling high wage bills

    Technology video | 172 views

  • Watch While there is a risk of global recession, India has zero probability of slipping into recession. Video
    While there is a risk of global recession, India has zero probability of slipping into recession.

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    While there is a risk of global recession, India has zero probability of slipping into recession.

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    While there is a risk of global recession, India has zero probability of slipping into recession.

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  • Watch CYBER DEFENSES ARE THE REAL DEFENSE IN THE COMPLEX TECH WAR OF ATTRITION Video
    CYBER DEFENSES ARE THE REAL DEFENSE IN THE COMPLEX TECH WAR OF ATTRITION

    #Microsoft #cyberattacks #ransomware
    Cyber Defenses against Tech War


    2021 has already broken records for cyberattacks, with an all-time high of 93% increase of ransomware and over 70% in all cyberattacks in the US in just 12 months. Offenses have reached a record of ransomware victims, with an unknown scope of attacks mostly in the US, and some victims in Europe as well. The ransomware attack, apparently conducted by the Russian speaking group REvil, represents a catastrophic combination of 2021’s most notorious cyberattack trends, supply chain attacks and ransomware. As many as 1,500 businesses around the world have been affected by the biggest ransomware attack to be recorded in history, the chief executive of American IT firm Kaseya has said.



    Software has become a weapon and the data the prisoners of war. The hackers have demanded $70 million to restore all the affected businesses' data. Among the businesses affected are supermarkets in Sweden, IT companies in Germany and the Netherlands, and schools and kindergartens in New Zealand were knocked offline. The hackers have used the VSA software developed by Kaseya which helps companies remotely monitor their computer systems. The company said it sent a detection tool to nearly 900 customers. Ransomware criminals break into networks and sow malware that cripples networks on activation by scrambling all their data. Victims get a decoder key when they pay up. Sources said, REvil level examines the financial records of the victim – insurance claims if they can find them – before they encrypt the data. They threaten to dump the stolen data online, unless paid, which has become another source of income and a nightmare for the victim.


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  • Watch Increasing attrition rates, a big worry Video
    Increasing attrition rates, a big worry

    There is increasing fear of global recession and spate of layoffs in the start-up space are expected to have a sobering effect on high attrition levels in the Indian IT industry over the next 2-3 quarters, and the majority of large tech companies talked of easing supply side pressures in the September quarter.

    Infosys has reported an attrition rate of 27.1% for the July to September quarter, the highest among top IT companies in India. While attrition at HCL Tech remained at 23.8%, TCS reported a higher rate of 21.5% and Wipro posted a marginal fall to 23% compared to previous quarter. Attrition rate measures how many employees are voluntarily leaving a company.

    A survey says, Indian techies change jobs often. Reason being, the growth opportunities are very less if they stay in the same company for more than 1-2 years now. The growth trajectory at any of the top Indian IT companies is not the same as it used to be before, where they witness a cutthroat competition in the industry.

    The technology job market which had overheated in the last few quarters has begun to cool off, and compensation expectations of new hires are also becoming more realistic. A subject matter expert said, there is an excess of people working in the Indian IT industry.

    Increasing attrition rates, a big worry

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  • Watch Attrition in IT-BPM increasing Video
    Attrition in IT-BPM increasing

    The findings showed that 57% of IT professionals would not consider returning to the #ITservices sector in the future. The #TalentExodusReport’ by TeamLease Digital predicts up to 55% growth in contract staffing attrition for FY 2023 as compared to 49% in FY 2022.

    The report said there is a huge misconception with the sentiment in the candidate market, that a salary increase would improve performance and boost job satisfaction, and 20 lakh-22 lakh employees are expected to leave their jobs by 2025.

    The Indian IT sector has witnessed tremendous growth in the last decade. It has recorded 15.5% growth, which is the fastest in more than a decade and touched $227 billion, creating additional 5.5 lakh jobs in FY22 alone.

    #Infosys has reported the highest rate at which employees are leaving the company among its Indian peers for April-June quarter, at 28.4%. The IT major is followed by HCL Tech with 23.8% employee attrition rate, Wipro at 23.3% and TCS at 19.7%.

    Experts say the high attrition rates could be attributed to the rapid expansions in the industry. In general when an industry goes through a rapid surge, there is shock with attrition rate running at 23-24%, it feels that the shock stage is now coming down.

    However, with the global pandemic disrupting the IT hiring chain, there is evidence of a reverse trend which indicates that retaining a business-critical talent has undergone a great change in the last two years.

    The reason for increasing attrition, nearly 50% of respondents believe that 'lack of better compensation and benefits' is the greatest reason for talent exodus, whereas 25% believe lack of career growth to be the reason.

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  • Watch Industry is in Fix due to attrition Video
    Industry is in Fix due to attrition

    While employees seem to prefer the flexibility that will allow them to continue moonlighting, tech giants have started cracking down and even have fired workers caught doing side hustle. With this some companies are expecting the high rate of attrition, and it’ll continue for some time, others say it is slowing down due to expected economic slowdown. There is no uniformity among IT companies in reporting attrition numbers.

    Employee attrition is a serious matter. A high attrition rate can be anything over 20% according to industry averages, however, these numbers vary by industry. The past 18 months saw technology companies witness severe employee departure even as companies attempted to return to normal after the pandemic.

    The attrition rate in India across industries in 2022 was only marginally lower than the one faced in 2021, thereby indicating a massive pressure on companies for retaining employees. The survey also revealed that the trend is expected to continue for the next half of the year.

    Recruitment agency Michael Page predicted that India is likely to witness an 86% employee attrition for 2022. This survey also suggested that in India, an estimated amount of 60% employees were ready to take up a lower salary to achieve a better work-life balance.

    “With the clear majority saying a significant talent migration event is upon us in the next few months, we must be ready for it to increase,” the report stated. Notably, the survey had also suggested that the percentage of employees planning to quit their current jobs was the maximum in India, followed by Indonesia, Philippines and Malaysia.

    A report from the Financial Times cites research by AuthBrodge states that around 8 to 9 percent of IT employees in India are engaged in moonlighting. Another survey by Kotak Institutional Equities states that nearly 65 per cent of IT employees know someone who is pursuing part-time opportunities or moonlighting while working a full

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  • Watch US recession? Who cares! Video
    US recession? Who cares!

    Signs are flashing an imminent grinding halt for the US economy. As financial markets squirm at the sight of an yield curve inversion in the US, Indian financial markets have not been able to escape the jitters. But in an interview with ETMarkets.com, TK Arun, Editor - Opinion at The Economic Times, feels India could not care less.

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  • Watch Is the world going to face another recession in the year 2023? Video
    Is the world going to face another recession in the year 2023?

    The global economy is entering a pronounced slowdown amid fresh threats from COVID-19 variants and a rise in inflation, debt, and income inequality that could endanger the recovery in emerging and developing economies, according to the World Bank’s latest Global Economic Prospects report. Global growth is expected to decelerate markedly from 5.5 percent in 2021 to 4.1 percent in 2022 and 3.2 percent in 2023 as pent-up demand dissipates and as fiscal and monetary support is unwound across the world. The rapid spread of the Omicron variant indicates that the pandemic will likely continue to disrupt economic activity in the near term. In addition, a notable deceleration in major economies—including the United States and China—will weigh on external demand in emerging and developing economies. The world economy is simultaneously facing COVID-19, inflation, and policy uncertainty, with government spending and monetary policies in uncharted territory. Rising inequality and security challenges are particularly harmful for developing countries,” said World Bank Group President David Malpass. “Putting more countries on a favourable growth path requires concerted international action and a comprehensive set of national policy responses.

    As per the World Bank report, the slowdown will coincide with a widening divergence in growth rates between advanced economies and emerging and developing economies. Growth in advanced economies is expected to decline from 5 percent in 2021 to 3.8 percent in 2022 and 2.3 percent in 2023—a pace that, while moderating, will be sufficient to restore output and investment to their pre-pandemic trend in these economies. While Deutsche Bank is the first major bank to forecast an imminent economic downturn, investors, both retail and professional, share the group’s gloomy outlook. According to a Bloomberg Markets Live survey conducted between March 29 and April 1, 48 percent of investors expect the US to fall into recession in 2023. Another

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  • Watch DBLIVE | 15 Nov 2016 |  Black money helped Indian economy during global recession : Akhilesh Yadav Video
    DBLIVE | 15 Nov 2016 | Black money helped Indian economy during global recession : Akhilesh Yadav

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  • Watch Is recession hitting in 2022? Video
    Is recession hitting in 2022?

    The Russia and #Ukrainewar is taking the world towards recession, with the growing impact on food, energy and fertiliser prices, and developing nations among the worst affected. Ukraine and Russia would likely see significant contractions, Europe, and the United States would see slower growth, whereas China will also see relatively sharp slowdown due to Covid, inflation and a pre-existing real estate crisis. So, are we going into recession in 2022?

    The increased geopolitical risks induced by the Russian invasion of Ukraine will weigh adversely on global economic conditions throughout 2022. Such effects are estimated in our model to reduce #GDP and boost inflation significantly, exacerbating the policy trade-offs facing central banks around the world.

    As per the IMF forecasts, global growth in 2022 is at 4.4%, but these projections are being revised downwards due to conflict and the fallout from sanctions. The US economy is likely to slow in 2022 and 2023 but will narrowly avoid a recession as the Federal Reserve implements its rate-tightening plan to curb inflation, as per the International Monetary Fund.

    Experts are now forecasting on the type of recession to arrive, whether it’ll be a V-shaped recovery, which is quick, with a sharp decline to a bottom followed by a dramatic rise. In a U-shaped recovery, on the other hand, the economy spends longer at the bottom and then gradually rebounds.

    Whereas, a W-recovery is when the economy passes through a recession and into recovery and then immediately enters another recession, and K-shaped means some parts of the economy recover more quickly than others. Whereas the Economists are watching the economy closely and many are boosting their odds of a recession occurring in the near term.

    Citigroup, assessing global economic growth over the next 18 months, sees a 50% probability of a global recession happening, while Goldman Sachs has put the odds of a recession for the U.S. in th

    Technology video | 195 views

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    Budget पेश होते ही भारी बवाल..| सरकार को बचाने का चुनावी बजट | Nirmala Sitharaman | PM Modi |#dblive

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Sports Video

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    IND vs SA | World Cup T20 2024 | Match Preview and Stats | Fantasy 11 | Crictracker

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    Join us as the India, led by their charismatic captain, face off against the South Africa, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of World Cup T20 2024. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SA | World Cup T20 2024 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

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  • Watch IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Zimbawe in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Zimbawe, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs ZIM | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

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  • Watch Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ???? Video
    Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ????

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    Office Fun Challenge: Guess the Cricketers? #office #crictracker #cricketlover ????

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  • Watch IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Bangladesh in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Bangladesh, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs BAN | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

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  • Watch IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 series. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SL | T20 | Match Preview and Stats | Fantasy 11 | Crictracker

    Sports video | 1340 views

  • Watch IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker Video
    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

    Welcome to the exhilarating showdown between India vs Sri Lanka in the T20 series! Get ready for an electrifying clash as these two powerhouse teams, fueled by raw talent and strategic brilliance, lock horns for cricketing supremacy.

    Join us as the India, led by their charismatic captain, face off against the Sri Lanka, determined to showcase their prowess on the pitch. With star-studded lineups boasting top-tier international players and emerging talents, expect nothing short of cricketing excellence and heart-stopping moments.

    Don't miss a single moment of the action, drama, and excitement as these teams battle it out in the high-stakes arena of this T20 Final. From breathtaking boundaries to strategic masterstrokes, witness every twist and turn in this epic showdown.

    IND vs SL | T20 | Final | Match Preview and Stats | Fantasy 11 | Crictracker

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