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Why does Accenture have high attrition rate?
This rise in attrition can be attributed to the surge in demand for digitisation, and therefore, tech talent, and companies increasingly rushing to modernise their processes and give a boost to their digital initiatives. For Accenture, the attrition rate has jumped by five per cent between the last two quarters.
What is the attrition rate in Accenture?
Outsourcing bookings of Accenture were weak at $7.1 billion, a year-on-year decline of 5.6\%. Secondly, Accenture’s attrition increased to 19\% on annualized quarterly attrition from 17\% in May 2021 quarter and 7\% in August 2020 quarter.
Why is attrition rate so high?
Generally, high attrition rates or churn rates indicate that employees are turning over pretty quickly while low attrition rates mean that people are staying with your company for a longer period of time.
Why do employees leave Accenture?
New Delhi: Global professional services company Accenture which has over 5 lakh employees worldwide is to cut at least 5 per cent of its ‘low-performing workforce and thousands of Indians are set to lose jobs owing to the sluggish business the company is witnessing during the Covid-19 pandemic.
Why is attrition high in Cognizant?
When asked why the attrition rate was high, Rajesh Nambiar, chairman and MD, Cognizant India and president, Digital Business & Technology, said in an interview on Thursday, “Attrition is an industry-wide concern. There is an unprecedented demand for talent and its widely known that the industry is impacted overall.”
Why is attrition so high in India?
The shortage of IT professionals with niche digital skills has led to the surge in attrition in Q2. As employees voluntarily quit their jobs in large numbers, the attrition rate in top-tier Indian IT companies were in double digits during the quarter ended September, recording a steady rise from its previous quarters.
Which company has highest attrition rate in India?
BENGALURU : Bengaluru: New Jersey-based Cognizant Technology Solutions Corp., which has more than two-thirds of its overall employees in India, has reported a steep quarterly annualized voluntary attrition rate of 33\% during the September quarter, the highest among peers in the industry.
In which company attrition rate is high?
Both Infosys and Wipro’s attrition rate is as high as 20\% quarter-on-quarter, according to exchange filings. In the September quarter of FY22, Noida-based HCL Technologies’ attrition rate rose to 15.7\% from 11.8\% in the June quarter.
What is the attrition rate at Accenture?
One of the main reasons for this is the rising demand for IT professionals. For instance, the attrition rate at Accenture is now 17\% in the third quarter, up from 11\% in the same quarter last year. Read on to find out all the details!
What is the attrition rate at the leading IT companies in India?
The attrition rate at the leading IT companies in India, Cognizant, Accenture, Infosys, etc. is now at an all time high. One of the main reasons for this is the rising demand for IT professionals. For instance, the attrition rate at Accenture is now 17\% in the third quarter, up from 11\% in the same quarter last year.
Why is the tech industry seeing a rise in attrition?
This rise in attrition can be attributed to the surge in demand for digitisation, and therefore, tech talent, and companies increasingly rushing to modernise their processes and give a boost to their digital initiatives. For Accenture, the attrition rate has jumped by five per cent between the last two quarters.
How many people Accenture has added in last quarter?
Accenture added 32,000 people in the last quarter, taking its headcount to 569,000 as of May 31. It awarded 117,000 promotions year-to-date, including almost 1,200 promotions to managing directors. The company said it has vaccinated 50,000 of its employees, their families and contractors in India till date.