Fifty-seven per cent of IT professionals would not consider returning to the IT services sector in the future, according to a survey by TeamLease Digital. Employees now desire flexibility, career growth, and employee value proposition, it said.
The report ‘Brain Drain: Tackling the Great Talent Exodus’ says IT companies are experiencing dysfunctional turnover, where the best employees are voluntarily leaving at higher rates.
Contrary to the misconception that a salary increase would improve performance and boost job satisfaction, employees’ needs and priorities had changed, with the desire for flexibility, career growth and employee value proposition, coming to the fore, it said.
Employees are re-evaluating their careers and quitting their well-cushioned jobs based on these aspects. The alarming figures reveal that the flexible structure has heightened choice, it said.
Sunil Chemmankotil, Chief Executive Officer, TeamLease Digital, said, “The Indian IT sector has witnessed tremendous growth in the last decade and created an additional 5.5 lakh jobs in FY22 alone. However, with the global pandemic disrupting the hiring chain, there is evidence of a reverse trend, which indicates that retaining business-critical talent has undergone a great change in the last two years.”
Apart from the usual demand for salary hikes and other benefits, the main attraction for employees in their new jobs is ‘Great Reflection’ on the internal policies and external factors that should be relooked at by employers
The report further showed that while 60 per cent of survey respondents said workplace flexibility can help limit the talent exodus in IT companies, 22 per cent said a change in leadership style was key, while 11 per cent said employee caregivers can help tackle the problem.