Great Resignation Spree Still On! Infosys & TCS Witness All-time High Attrition Rates In 2022

Even as Covid cases in India have declined after the third wave this year, the pandemic-induced ¡®great resignation spree¡¯ is showing no signs of a slowdown.

This is evident from the recent revelations by two IT giants of our country, TCS and Infosys. Both have witnessed all-time high attritions this year in January 2022-March 2022 quarter, after disclosing high rates in the last quarter of 2021 as well.

ET

Yesterday, Infosys reported an all-time high annualized voluntary attrition rate of 27.7% for the quarter ended March 2022 quarter, implying that over a quarter of its employers had left the firm for greener pastures, as per a report in ET. Infosys¡¯ attrition rate for the quarter ended December 2021 was 25.5%.

On the other hand, Tata Consultancy Services (TCS) reported an attrition rate of 17.4% in the January-March 2022 quarter. TCS¡¯ attrition rate for the quarter ended December 2021 was 15.3%.

Both the companies have warned that the attrition rate (on the last 12-month basis) will rise over the next two quarters before tapering off, as per BloombergQuint.

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Also Read: Former SBI Chairperson Arundhati Bhattacharya Says India¡¯s IT Sector Battling A Hiring ¡®Crisis'

Record Hiring Amid Record-high Attrition

Amidst the great resignation spree and high attrition rate, both Infosys and TCS have added an all-time high number of employees on a net basis in the recently concluded March quarter.

TCS saw an all-time high net addition of 35,209 employees in the January-March 2022 quarter, and its annual highest of 1,03,546. Its total employee count reportedly stood at 5,92,195.

Infosys added 21,948 employees in the March 2022 quarter and 85,000 in the entire financial year 2021-22. Its total headcount reportedly stands at 3,14,015.

Also Read: IT Giant HCL Reportedly Asked Resigning Employees To 'Return' Their Bonuses

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