A recent report generated by industry body Assocham (Associated Chambers of Commerce and Industry of India) has revealed that IT companies and ITes-BPO sector are witnessing a sharp decline in the attrition levels from past few months in India. 

It is reportedly said that the attrition rate has fallen sharply in IT, ITeS-BPO sector to the level of about 15-20 percent during the last six months of this year as compare to over 50 percent in the year ago period. 

It is worth noticing, the report is based on the interaction done with 300 job consultants, recruitment professionals, HR specialists, industrial psychologists and administration officials at various companies in the domain of IT, ITeS and BPO at six leading centers. These centers include Bangalore, Chennai, Hyderabad, Gurgaon, Noida and Pune. 

According to DS Rawat, Secretary General at Assocham, an uncertain global economic environment together with cross-currency fluctuation has compelled the employees to adopt a wait-and-watch policy which is ultimately leading to a sharp decline in the attrition levels in the IT-BPO sector. 

He further added, attrition level is at the minimum of about 5 percent amid employees with working experience of over 10 years, while it was about 7-10 percent amid employees having 5-10 years experience and was about 15-20 percent amid employees having less than 5 years' work experience. 

It is found; the rate of attrition at all levels of the organization has observed a fall ranging between 45-50 percent between January-June. Analysts believe that the change has happened mostly due to a fragile global economy and rupee volatility.