The TeamLease Report said a hike and increased pay scale do not encourage a candidate’s performance in a company

As per the recent report of TeamLease Digital, The attrition rate in the IT-BPM industry is expected to be high as the previous years. This report also unveils that 20 to 22 lakh Indian IT professional will leave their jobs by 2025. The information also talked about the misconception that a hike in the payment will improve the candidates’ performance and job satisfaction. 

Chief Executive Officer of TeamLease Digital, Sunil Chemmankotil said “The Indian IT sector has witnessed tremendous growth in the last decade. It has recorded 15.5 per cent growth, which is the fastest in more than a decade and touched $227 billion, creating additional 5.5 lakh jobs in FY22 alone.” He further added, “There is evidence of a reverse trend which indicates that retaining a business-critical talent has undergone a great change in the last two years”. The TeamLease report stated “Organisations’ strategic hiring plans must contain goals towards their employees and their betterment. This ultimately translates into soul searching over whether an employee feels valued in his/her work or merely creates outcomes and value to benefit others,”. The reports also mentioned that the companies across the industry facing dysfunctional turnover where the best employees of companies 

Are leaving the companies at a higher rate. As per the report of  TeamLease Digital, the industry is expected to grow from 50 lakh to 1 crore people in the next few years, with multiple opportunities for job seekers.

The CEO of TeamLease Digital Sunil Chemmankotil said ‘‘With the usual demand for salary hikes and other benefits, the main attraction for employees in their new jobs is ‘Great Reflection’ on the internal policies and external factors that should be relooked at by employers as we are viewing great changes in the employees’ feelings about work and life”.

Another key finding of the report says the 55 per cent growth in contract staffing attrition for FY23 compared to 49 per cent in FY22. It also said that 57 per cent of IT professionals would not consider returning to this sector.