Job replacement rate by Infosys employees declined to 27.1 per cent in the second quarter of the current financial year from 28.4 per cent in the previous June quarter. The rate of change of employees in HCL remained the same in the second quarter as in the June quarter.
New Delhi. In the Indian IT industry, the rate of change of employees in the Indian IT industry has come down amid deepening fears of a global recession and reports of layoffs in the startup sector. Industry watchers say big technology companies have spoken of easing supply-side pressure in the September quarter. Significantly, during the last 2-3 quarters, the trends of rapid company change among the employees were observed in the IT industry.
Job replacement rate by Infosys employees declined to 27.1 per cent in the second quarter of the current financial year from 28.4 per cent in the previous June quarter. The rate of change of employees in HCL remained the same in the second quarter as in the June quarter.
Attrition rate already fixed in HCL
“It has already stabilized and there are early signs that we are in a good position,” said Rama Sundararajan, Chief People Officer, Noida-headquartered HCL.
The leaving rate of TCS employees increased to 21.5% in the last 12 months
The country’s largest IT company Tata Consultancy Services (TCS) said that the rate of its employees leaving the company in IT services has increased by 21.5 percent in the last 12 months, but it is expected to stabilize in the coming months.
The technology job market has boomed over the past few quarters.
The company said in a conversation organized regarding quarterly earnings that the technology job market was booming during the last few quarters and now it has started to soften. New employees are also adopting a realistic approach in terms of salary.
Employee leave rate remained low for 3 quarters in TCS
Infosys has also given relief in respect of employees leaving the company. The company’s CEO Salil Parekh recently said, “On a quarterly basis, the employee leaving rate has been low for 3 quarters, which now includes the second quarter. We anticipate that there will be further reduction in this rate.”
