ANALYSIS OF EMPLOYEE ATTRITION AND STRATEGIES FOR EMPLOYEE RETENTION IN THE IT SECTOR

Abstract

Purpose- Attrition in the IT sector is currently in all-time high. It has a lot of reasons which are unique in every category. Currently India’s some of top firms saw a big attrition rate for their IT sector, Infosys had an attrition rate of 25.50% while TCS and Wipro had a solid number of 15.30% and 22.70% respectively. The study “Analysis of Employee Attrition Causes and Strategies for Employee Retention in the IT Sector” is all-inclusive logical methodological approaches to spot the various causes to understand why the employees in the IT Sector leave the organisation. The study talks about the notion of attrition and the various effects related to it in the IT sector. The idea of the study is to understand as to what are the reasons due to which there is this huge amount of attrition in the IT sector currently. The study also discusses certain strategies for overcoming these causes for the attrition rate. Methodology- The data for the study was gathered through a digital questionnaire. Data collected was put thorough measures of reliability and validity. The software tools used for analysis are SPSS and Excel. Findings – The end findings mention that the most significant factors are compensation for the current role, company culture and recognition to improve employee retention. Value – The study is one of the interesting studies which dives into the reasons for the so high attrition rate currently in the IT market of India. It also helps in better understanding the perspective of the employees as in what can be done or made better to retain the employees in the IT Sector.