Financial Daily from THE HINDU group of publications
Saturday, Aug 23, 2003
Cadence pips Infy in best employer race: Survey
Bangalore , Aug. 22
INFOSYS Technologies has lost its numero uno position as the best employer in IT industry to the local unit of electronic design automation tools giant, Cadence Design Systems, according to DQ-IDC Best Indian IT Employer Survey 2003.
Cadence, Tata Consultancy Services, Hewlett Packard, Infosys Technologies and IBM have been ranked as the top five best employers in the 2003.
Although Infosys has slipped down the best employer rankings for the first time, it remains the dream company for IT employees in the country, the third DQ-IDC survey said.
In addition, seven new companies made it to the Top 20 best employers list for the first time including - Computer Sciences Corporation, Siemens Information Systems Ltd, WeP Peripherals, Oracle India Pvt Ltd and the Chennai-based Accel ICIM Systems and Services.
Infosys, followed by IBM, Microsoft, TCS and HP were ranked in order as the dream company to work for by a sample of 1,000 IT employees across six cities.
Microsoft moved up in the dream company rankings from number 9 in 2002 to number 3 in 2003 while Sun Microsystems moved out from the top five list.
According to the survey, most of the effects of recession on the HR environment in the country seem to recede, fewer people complain of cut in salary increments, cost to company, perks and tour entitlements than last year.
However, 31 per cent of those surveyed said they faced higher stress at work, while 36 per cent said job security was an issue as compared to 34 per cent last year.
The morale is not looking up yet as 21 per cent said morale was affected (18 per cent last year).
The DQ-IDC pointed that other key trends such as attrition rates have improved.
Attrition rates decreased from an average of 12.3 per cent in 2002 to 9.5 per cent in 2003.
At the same time, annual retention rates also marginally improved from 88 per cent to 89 per cent.
From the employee perspective, though fewer employees spoke of cuts in salaries, increments and perks there was a continuing trend towards increasing the variable components of salaries across most companies.
This was a trend set into motion by the IT services sector about two years ago.
Last year, the rest of the industry also caught up to it.
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