IT companies offer huge salaries to experienced techies; Attrition rates go up

Although the surge of Covid cases across the world put a halt in all sectors, many were still able to continue a smooth sail in their life with a bit of loss. When it comes to IT sectors, many have been received big offers from different companies and due to the high salary offered by the companies, many employees took decisions on company change.

Before the Covid pandemic era, barely 6% -7% of techies in Kerala quit their jobs every year but now it has become over 20%.  In cities like Bengaluru, the pre-employment rate was 12% -15%, whereas the rate could be seen an increase to 25% -30%. The attrition rate in MNCs has gone a level high where companies are forced to increase their salary to a vast and varying amount. The attrition rate is measured as a percentage of the employees that left a business for any reason over a specific period. This periodic measure determines how successfully a company is retaining its employees. There are some reasons for the rate to increase even amid the Covid crisis.

  1. Increase in demand; Companies compete for techies who have work experience of 5 years to 15 years. During the Covid period, not only was India not lagging behind but also production was increasing to a greater extent. far behind in software products or services production increased.  With that, more projects came from all over the world and started to cumulate which lead to more labor needs in each company.
  1. Online Courses: Techies at home also do a variety of online courses. There are courses in Data Analytics, Machine Learning, and Big Data Analysis. This could Save 1–2 hours of travel time to and from the office.

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  1. Salary hike: If the annual salary of the best software professional in Kerala is around 12-15 lakhs, in big cities like Bangalore big companies can get up to 24-30 lakhs.  All those who had previously turned down the offer due to the difficulty of shifting their life to another state even if they got a higher paying job. When the work-from-home facility was largely encouraged during the pandemic time, employees are now accepting the offers from companies across the country or even abroad willingly.