Over the last few months, IT professionals are switching organisations due to which the companies are coming under pressure. At present, companies are planning to hire freshers and experienced professionals. Companies are working towards retaining the employees by offering the right balance to employees, good work culture, great numeration policies, and even growth opportunities.
However, the attrition rate is still a concern for the IT giants since employees are making the switch. But it seems that Tata Consultancy Services know the right formula to retain employees.
As in the race of employees switching companies, TCS has the lowest attrition rate. It is around 8.63% in the first quarter of the financial year. In March 2021, the attrition rate was 7.2%, the lowest in India. TCS also reached the milestone and crossed the headcount of 500,000 in the last quarter.
TCS attrition rate has decreased over the past year. Apart from this, Accenture has an attrition rate of 11% in June 2020 that has reached 17% in a year. For the financial year 2020-21, the attrition rate of Infosys and Wipro is 15.2% and 12.1% respectively.
TCS has also witnessed considerable growth with the increased demand for IT services as the quarterly profile reached 29%.
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