Inside India’s great tech talent crunch
- This war for talent is an indicator of macro-level innovation and rebalancing. It is a key part of economic progress
- Companies that are losing talent need to introspect and decide whether they should draw upon their institutional knowledge and make do with stronger process orientation and average people
NEW DELHI : Globally, millions of employees are walking away from their jobs in a phenomenon that has come to be known as the ‘Great Resignation’. India’s job market is markedly different from the West, but there is one narrow segment of the workforce where the local scenario is eerily similar to the global. Over the last six months, the attrition rate at India’s IT majors has spiked dramatically to touch a range of 20-30% per annum (effectively amounting to a new employee roster, or a blank slate, every four years).