Tech town looks pretty upset lately. The obviously visible reason is the rising attrition rates. The attrition rates have gone up to 20% in a quarter’s time in giants like Infosys, HCL, Wipro and others. Organizations are forced to redefine stability. Employers feel cheated. Ironically enough, attrition has entered IT industry during prosperous times.
Even as the worries of attrition keep increasing by leaps and bounds every day, AnyLinuxWork prefers to look at the other side of the picture. Says ALW CEO Vivek Singhal, “There were two options available to organizations during recession. One, staff cutting to save costs and adjust with losses. Two, refuse lay-offs and focus on employee productivity. We chose the latter one.” Instead of resorting to lay-offs, ALW chose to face the situation by employee encouragement through pay hikes. And today most people who have stuck with it are those who value this.
The message is clear. We must adjust and customize depending on the situations but we can never afford to ignore future. We cannot refute the effects of global recession during the past few years on Indian IT industry, being worst hit. Yet it has risen above the troubled waters in record time. Ever since the industry has been sailing on an optimistic ship with the workforce as its strength.
In the midst of this, with attrition hitting the scene, it is difficult to imagine how fast loyalties can shift as a major chunk of workforce leaves for greener pastures. And this is happening to organizations that refused lay-offs during recession and stood by their employees. So here’s the deal. If people who can shift loyalties so fast depart from an organization, it leaves room for the new talent who are ambitious, fresh and open to learning. Attrition, in fact, is creating opportunities for the talented young people with clearly defined professional objectives.
Adds Vivek, “I feel attrition has forced us to reconsider the way we look at a crisis. Ironically, the seeds of destruction are laid in the seed itself. And every such destruction leads to something better. Destruction inevitably leads to construction.” This should be the thought to take home. Shouldn’t it?
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