Reasons of Attrition of Employees in IT and ITEs Industry: A Descriptive Study

Abstract

One of the most rapidly expanding industries in the world and one that significantly contributes to the world economy is information technology (IT) and information technology enabled services (ITES). High personnel attrition or turnover poses a significant problem for the sector notwithstanding its expansion and success. In the IT and ITES sector, attrition refers to the phenomena of people leaving a company for a variety of reasons, including a search for better possibilities, higher pay, a better work-life balance, or a lack of job satisfaction. The IT and ITES industry can be significantly impacted by attrition, which can result in higher hiring costs, decreased productivity, and lower morale among surviving personnel. Also, because of the industry's intense competition, businesses constantly struggle to hold on to their highly qualified employees, protect their good name, and stay one step ahead of the pack. So, it is crucial for employers to adopt effective tactics to retain their staff and accomplish their organizational goals if they are to build strategies that would help the IT and ITES business.