While more than five million people are working in India’s USD 227 billion IT industry, the country’s biggest employment generator, the industry has seen a double-digit attrition rate of 23%-25% throughout the year 2021. It is 25.2% this year and it is predicted that the same trend is to continue in the near future too, reports The Indian Express, citing TeamLease Digital. The research predicted that 2 million to 2.2 million employees are expected to leave their jobs by 2025. Half, or 50%, of survey respondents believe ‘lack of better compensation and benefits’ is the greatest reason for talent exodus, whereas 25% believe lack of career growth to be the reason. Also, 50% of respondents feel that employers should provide opportunities for career development, and 27% believe that employers have to focus on company culture to retain their employees.

When it comes to finding solutions for ‘brain drain’, 65% of employees chose workplace flexibility, 18% asked for career guidance/opportunities to employees and 8% asked for support to employee caregivers.