Amid great resignations, the report claims India has touched the highest number of job losses in the last 20 years. Great resignations made their way since last year, with employees tending to leave jobs for the better. Despite this, IT companies in India hired over 350,000 people in the first three quarters of 2021.
According to a report by Aon, the attrition rate has reached 21 per cent in 2021 from 12.8 per cent in 2020, according to a report by Mint. The survey also said that wage growth will average 9 per cent this year, the highest in five years as companies return to pre-pandemic levels and business outlook improves.
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However, in India, there has been an increase in hiring. The survey claimed that India is projected to have the highest wage growth in 2022 among the BRIC (Brazil, Russia, India and China) countries, with Brazil at five per cent, Russia at 6.1 per cent and China at six per cent. Meanwhile, according to a report by BusinessLine, it has been claimed that IT companies in India have hired over 3,50,000 people in the first three quarters of 2021. According to the report, it contributes to 14-15 per cent of the total workforce in these companies. ,
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Describing this as a welcome move, Nitin Sethi, Partner and CEO, Human Capital Solutions, AON in India, said, “For employers, this can emerge as a double-edged sword when you can find talent with record-high attrition numbers. add to the rising cost of This trend is driven by economic recovery and the need for organizations to invest in new-age capabilities to build a resilient workforce,” the Daily News reported.
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