Retaining Talent

FIRMS ARE PULLING OUT ALL STOPS TO RETAIN EMPLOYEES AS THEY ENGAGE WITH A YOUNG, INFORMED AND DIGITAL-SAVVY WORKFORCE THAT WANTS MUCH MORE THAN A GOOD COMPENSATION PACKAGE.

- Asmita Dey

ROHIT JAIN (name changed) quit his job in March last year just before second Covid-19 wave gripped the country. The techie, part of a team steering product development for a Gurgaon-based tech firm, used to slog the entire day. “There was no work-life balance. There were days when I had lunch at five in the evening. Workload and deadlines were such that I couldn’t even take sick leaves,” he says. “Company policy mandated mental health leave once a month. We could never take it,” says Jain. For a 32-year-old millennial with no family responsibilities, the decision to quit was not difficult. He took a break for three-four months and was, until recently, freelancing for a Mumbai-based tech firm. “I wanted a full-time job initially but freelancing got me decent money. I knew I would find one option or the other. I have already clinched a permanent role,” says Jain.

A For Attrition IN INDIA...

5.1million

Estimated number of people working in IT and tech, according to Nasscom

21%

Attrition rate in 2021, over two-decade high, according to Aon Consulting

19.77%

Attrition rate in IT in Jan-March 2022, according to TeamLease. It was 9.09% for e-commerce and technology start-ups

... AND GLOBALLY