Here's taking a look at the attrition drivers-Įxternal inequity of compensation- Employee attrition owing to external inequity compensation reduced from pre-covid to post-covid times.
Attrition in it sector drivers#
The survey by Aon Plc has chalked out the attrition drivers that is leading to employees in India partake in the Great Resignation. Reports have suggested that the Great Resignation occurred owing to career progression, change career role or industry, unhappy with salary, unhappy with strategy or direction of company.įactors contributing to higher attrition in India Notably, the survey had also suggested that the percentage of employees planning to quit their current jobs was the maximum in India, followed by Indonesia, Philippines and Malaysia. "With the clear majority saying a significant talent migration event is upon us in the next few months, we must be ready for it to increase," the report stated. This survey also suggested that in India, an estimated amount of 60% employees were ready to take up lower salary to achieve a better work-life balance. The recruitment agency Michael Page predicted that India is likely to witness an 86% employee attrition for 2022. It's usually expressed as a percentage and used as one of the main figures HR tracks to understand how things are going at a company.Įven as increased employee attrition refuses to die down, the world economy has begun to slow since Russia invaded Ukraine earlier this year. Essentially, the attrition rate measures how many people leave, voluntarily or involuntarily. What is the attrition rate? The attrition rate is the pace at which people leave a company. The survey also revealed that trend is expected to continue for the next half of the year.
The attrition rate in India across industries in 2022 was only marginally lower than the one faced in 2021, thereby indicating a massive pressure on companies for retaining employees.
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