As the global economy continues to recover, India's IT companies are faced with high attrition rates, as hiring activities have gone up as a result of demand for IT services, says the Economic Times.
The Times notes that even if companies are offering financial and other benefits to retain employees, people are still leaving for better pay elsewhere.
"As a result of the slowdown, the IT industry was rather thin on the bench, but now everyone is hiring laterally. As a result, attrition has already become a problem. It will be more problematic over the next 4-5 months," Nasscom Chairman Som Mittal told the Times.