Synopsis
The pandemic-pushed digitisation by companies, along with the use of emerging tech, is leading to an acute shortage of tech talent, rising attrition, and higher costs. The situation is unlikely to ease in a hurry, and the impact on margins will eventually pose a challenge. But there is a larger benefit for the industry in this churn.
It’s the best of times for digital-tech talent. A coder recently quit one of the country’s top IT-services providers to join the Gurugram-based in-house tech-services centre of a global bank at a 30% salary hike. “Some of my friends and colleagues negotiated with an offer letter to convert a 30% hike into a 100% jump. But I was happy with my offer and joined,” says the coder, who asked not to be named. Another employee with a large IT-services
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