Tag: talent

Moneycontrol IT Hiring Series Part 5: Are we Nearing the Zero Bench Period? | In the News

The Indian IT industry generates at least one lakh new jobs a year. But if you think that makes jobs readily available, the reality is different. That is because the industry, which employs more than four million people, has changed the way it hires. Basic skills are no longer in demand, and companies want candidates to be job-ready from day one.

Yugal Joshi, Vice President, Everest Group, a management consultancy, said, “Bench development is a loss to the provider as those resources aren’t billed but paid. As the digital disruption gains pace, it will be difficult to build bench anyways as the requisite skills won’t be available.”

IT Majors Rejig Retention Strategy as More Junior Staff Head for Exit Door | In the News

If acquiring talent is a challenge, retaining them is even more daunting as IT companies continue to grapple with the issue of attrition, especially among freshers who tend to leave the company in less than five years.

Abhishek Singh, Vice-President at the Everest Group, a research firm, disagrees with the view that lack of onsite opportunities causes attrition among youngsters.

“Jumping from one company to another will not satisfy employees’ on-site aspiration. The biggest driver of attrition is the low entry-level salaries,” he told BusinessLine.

Read more in The Hindu Business Line

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