IT, heath sectors witnessing highest attrition rate in India
[Link]
Welcome, Guest
Sponsored by Tuesday, Jul 19, 2011
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy
Login| Register
Advanced Search RSS Content Guide
Follow us on
| Opinion | Life & Leisure | Mgmt & Mktg | Tech World | BS Products
Section Home | News Now | Today's Paper | Features & Analysis | Politics & Public Affairs | Q&A | Columnists | BS Says Home > Economy & Policy
Live Markets | Commodities Facebook Twitter
0
Keyword
Print this
Email this
IT, heath sectors witnessing highest attrition rate in India
Press Trust of India / New Delhi July 19, 2011, 15:00 IST
The information technology (IT) and healthcare sectors are witnessing the highest attrition rates among talented employees, making retention of critical manpower resources a key challenge, says a survey. According to a study conducted by [Link], the IT and ITES sectors saw the highest attrition rate of 23% in the first quarter of 2010-11. In contrast, the banking and financial services sector witnessed an attrition rate of 18%, followed by healthcare (12%), FMCG (11%) and automobiles and manufacturing (11%). "Attrition is a major problem with India Inc and it suddenly got increased in the first quarter of the current fiscal year. The major reason behind (this) was that firms had started paying more to newly hired employees. "Beside pay packages, career level growth and relationships with supervisors are the other reasons for higher job attrition," [Link] Founder and CEO Rajesh Kumar said. The main reason for switching a job is pay packages (21%), followed by career level growth (16%), dissatisfaction with supervisors (15%) and work pressure (14%). Employees with experience of up to five years had the highest attrition rate of 39%, while it was 27% for those with 5-10 years of experience and 22% in the 10-15 years' experience bracket. Interestingly, senior-level employees (experience more than 15 years) had a very low attrition rate of 15%. "Entry level and young blood employees want to reach on higher pay packages as soon as possible to fulfill there need and avail good facilities of life. "If they continue with the same job, they can get a 10-20% salary hike, but if they switch jobs, they can easily get somewhere around a 25-40% salary hike from current CTC. A higher attrition rate causes panic among employers and the direct impact of a higher attrition rate comes in hiring costs," Kumar added. The survey was conducted by MyHiringClub, an Asia and Gulf/Middle East recruitment tendering platform, among 11,800 employees and 249 employers between May and June this year.
Click here to visit SME Buzz
TATA Hiring for July 2011
10,000+ Job Openings across India Upload [Link] to TATA Now!
[Link]/TATA-Hiring
Most Popular
Read E-Mailed Commented
HDFC Fixed Deposits
Highest HDFC Deposit Interest Rates Safe & Secure, Invest Now!
[Link]/Deposits
- Tata raises red flag on anti-inflation stance -
Infosys eyes Gujarat for setting up new campus Fresh demands to probe, control Murdoch empire HPCL grounds Kingfisher flights over jet fuel dues Barclays to realign India biz 25-30 job cuts likely
Also Read
Related Stories News Now
- India debt capital volume at $20 bn so far this yr: Dealogic - HDFC Bank Q1 net rises 34% to Rs 1,085 cr - Commexes turnover up 56% in Q1 to Rs 38 lakh cr - 'US firms can explore opportunities in Indian infra' - US firm to invest Rs 3,600 cr in renewable energy - Shares shifted to T group slip on the bourses
Best BBA College Punjab
Join BBA @ Lovely Prof. Univ & Get Scholarship Upto 1 Lac. Apply Now!
[Link]/Lovely_Professional_Univ.
[Link] - Register Now
Your Job Search Ends here! Top MNCs, Best Profile, High CTC.
[Link]
Find us on Facebook
Business Standard
Other Stories
Markets near day's high Uranium find in India could be world's largest IT, heath sectors witnessing highest attrition rate in India Sistema Shyam inducts four new faces on board ABB wins $15 mn water order in Saudi Arabia
Like 2,252 people like Business Standard.
Chetan
Varun
Atul
Vikrant
Pranaw
Tags : IT | health care | attrition | FMCG | employees
Facebook social plugin
Read Business news in
Advertisements Enjoy a family vacation in Goa like never before... Win a Business Class ticket to the US on the A380... Discover More With Cloud Power Click here to know more Technology that's got everyone talking. Click here Experience the joy of rains on the m ountains...
1 of 3
7/19/2011 3:13 PM
IT, heath sectors witnessing highest attrition rate in India
[Link]
Cheapest big car with 3 years warranty! Health is Wealth..... Insurance + Savings... Know More... Are you ready for the trip of your life ? Business-grade NAS Solutions for SMBs. Click here to know more. The World's First Professional-grade tablet is here. Know more We integrate Security with your business. Click here Steel lending Strength to the nations's defence. Click here Enhance business productivity with cutting-edge technologies.... Choose your markets: Commodities,equities & Currencies... CFA Institute, Register for Level 1 Now! To us your health comes first. Know More. [Link]: Anniversary/ B'day/ Midnight Flowers & cakes delivery in India
Ads by Google
Employees Pay
India
Salary Survey
Attrition
Business Standard on Twitter @
Share this Story
Print this [Link] orkut Email this digg
0
bsindia
Add to favorites newsVine Twitter Reddit Google Buzz Facebook UncanyValleyGrl @Poons13 I'm Begrudgingly keeping #Netflix the same way I'm begrudginly doing the #Google+ thing...I'm the internets slave it would seem.
23 seconds ago reply retweet favorite
Markets Update
Smart Moves
Company Crompton Greaves Ltd ING Vysya Bank Ltd SEAMEC Ltd Fame India Ltd Last (Rs) 209.70 361.00 116.35 57.05
More
Powered by
More
joanne_tw @SivaTheWanted if it's never sit on the floor, I always sit on the floor, mainly when waiting to see you! #itsatwthing!:')xxxx
17 seconds ago reply retweet favorite
Join the conversation
Remarks Plunges on 58% drop in Q1 net Q1 net profit jump 36% at Rs 94-cr Hits roof on inking Rs 343 cr contract Shifted to T group w.e.f July 22 Follow Business Standard on Twitter
Top Gainers
Company DLF Sterlite Inds. Bharti Airtel 239.55 166.55 399.10
Top Losers
Company Tata Motors Hero Honda Motor Maruti Suzuki Last (Rs) 984.50 1,794.90 1,161.30
More
Last (Rs) Gain (%) 1.96 1.80 1.72
More
Gain (% ) -3.11 -1.25 -0.93
More
Expert Speaks
Live Commentary
'These are challenging times' Rajeev Thakkar, Director and CEO, Parag Parikh Financial Advisory Services
- Cadila's Q1 consolidated net up 15.4% but standalone net declines 23% - Crompton Greaves plunges on 58% drop in Q1 net, plunged over 15% to Rs 206
Discussion Board/User Comments (0)
Display Name Post your comment Email-Id
Latest Messages
Hot Searches
2 of 3
7/19/2011 3:13 PM
IT, heath sectors witnessing highest attrition rate in India
[Link]
GTL | Kanimozhi | PlayBook |
Lanco |
Greece | Speak Asia | Cairn India | iCloud | Dainik Jagran | Silver | iPad 2
Vedanta | Provident Fund |
income tax
refund | Anna Hazare | Libya | iPhone | Air India | Reliance Industries | 3G | SEBI | BSNL | Copper | BSE | NSE | Amitabh Bachchan | Mukesh Ambani | Anil Ambani | Bollywood | TCS | Infosys | Pranab Mukherjee | Sonia Gandhi | Rahul Gandhi | New Pension Scheme | Service tax | Reliance | RBI | GDP | Gold | Ratan Tata | ICICI | B-School | Sensex | Tax calculator | Home Loan | Personal Finance | inflation | oil prices | Barack Obama |
Member Area Subscribe to BS Products
Write to the Editor BS print product BS Hindi
RSS BS e-paper BS Motoring
Archives Newsletter BS Books
Advanced Search Portfolio Tracker
FOR HOT PRODUCTS
BS [Link]
Home | Markets & Investing | Companies & Industry | Banking & Finance | Economy & Policy | Opinion Life & Leisure | Management & Marketing | Tech World About Us | Partner With Us | Code of Conduct | Careers | Advertise with us| Terms & Conditions | Disclaimer | Contact Us
3 of 3
7/19/2011 3:13 PM