#Attrition in it sector software

Proper strategies and ideas are required to control the growing employee attrition rate. While companies transition their legacy systems and build next-gen platforms and processes, talent demand for technology skills is booming. One of the major problems that every company faces, irrespective of the work sector, is Employee Attrition. The unceasing talent surge has disrupted the demand-supply equilibrium, driving organizations to focus on both, talent attraction as well as talent retention.

#Attrition in it sector software

The number of businesses in the Software Development in Romania industry has grown 0.7 per year on average over the five years between 2017 - 2022. There are 7,931 Software Development in Romania businesses as of 2022, an increase of 0.7 from 2021. The IT sector is maintaining the uptrend of hiring activity with a continuous demand for skilled personnels within the sector. The average Software Development in Romania business in Romania has six employees. IT companies attrition has been rising which is seen as a key concern for the companies and in the industry. Another IT giant Wipro's attrition rose to 22.7% (voluntary TTM) on a trailing 12 month basis from 20.5% in the second quarter (QoQ). Around 35-38 of tech organizations are likely to improve or enhance their IT operations and infrastructure due to the COVID-19 outbreak.

On the other hand, the country's second largest IT firm Infosys' voluntary attrition (LTM - IT Services) has risen to 25.5% in the third quarter from 20.1% in the September quarter and 11% year-on-year (YoY). Despite this global crisis, the revenue of the IT Industry was calculated at around USD 190 Billion for 2020-21, and it is expected to reach around USD 300-350 Billion by the year 2025. Tesla employees work famously long hours and weekends, which could explain the relatively early.

TCS' Milind Lakkad, Chief HR Officer in the earnings release said that the IT giant gave preference to internal candidates for the open positions, global deployment opportunities, career paths to learning, and promotions to its employees, to retain its best talent and overcome supply side challenges. Tesla is in the same league, with employees staying at the electric car maker 2.1 years on average.