BANGALORE: Rising attrition among project managers with experience of between three and eight years, who handle critical delivery teams for topIndia's top 10 cos to work customers, is proving to be a big worry for major IT firms like Tata Consultancy Services (TCS), Infosys and Wipro that are scrambling to cope with renewed demand for offshore outsourcing.
Until a few months ago, technology firms were busy offering salary hikes and other incentives to software engineers to retain them as demand picked up. However, some companies are now battling attrition as high as 40% among their project managers, threatening to disrupt ongoing engagements.
“Customers want commitment about retention of these project managers. At best, we can offer them 15-20% retention hikes, but what can you do when multinationals like Accenture and Cognizant are wooing them with around 40% salary hikes?” said a senior executive of a mid-tier Indian outsourcing firm, which competes with larger rivals for more business from customers such as GE.
source-Economic Times
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