Upside of possible US recession: InfoTech and ITeS may see lower attrition rates

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FE Posted: Apr 23, 2008 at 0000 hrs IST

New Delhi: HR companies are upbeat that the current recession in the US will reduce attrition rates in the IT sector in India.”Slowdown in the US economy will bring relief to sectors like information technology and ITes.

The attrition rates of these sectors could come down to 20 to 25 per cent from present 30 to 45 per cent,” Pankaj Bansal, chief executive officer of a leading HR knowledge process outsourcing company PeopleStrong said on Tuesday.

He said the changed demand and supply equation in the market will automatically reduce attrition, because the demand for people will dip. “Hence, there will a limited opportunity for the people to change within the same sector”. Bansal’s view was echoed by Ronesh Puri, managing director of Executive Access, another leading search firm.

Puri said the slowdown in the US economy could ease the attrition level across the sectors by 10 per cent in the current financial year.

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Upside of possible US recession: InfoTech and ITeS may see lower attrition rates

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