Recession : IT attrition @ 3-year low

As the recession hits at IT industry and there are enough measures taken by companies in the name of cost cutting. That has gone to the height of bonus cut, increment cut and decrement to layoffs. The terms which are used as reasons for people quitting job till last fiscal, however in this fiscal the same terms are there enough in all most all companies but the attrition rate dips to 3 year low.

For Wipro, the attrition rate has come down from as high as 20 per cent two years ago, to 12 per cent. For Infosys, the rate is down from 13.7 per cent in the first quarter of 2007-08 to 11.8 per cent in the last quarter. TCS has seen a percentage point decline in the rate between the first quarter of this year and the third quarter.

Though companies says the low in attrition is because of their measures to ensure employee satisfaction. But almost all the people working in the industry knows the real fact behind the low attrition rate.

Ref:IndiaTimes

--Gopi