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Recovering mkt sees more job hoppers
With the revival in the job market, attrition levels in the country -- especially its IT and IT-enabled service sectors -- are touching double-digit figures once again, experts feel.
A host of leading HR services firms and experts believe that the recent job market revival has led to a rise in employee turnover, with people increasingly looking at greener pastures with renewed confidence.
After a year of freeze on recruitments due to the global meltdown, job-hopping has again resurfaced as a trend in the IT industry. Attrition levels are touching double-digit figures mainly across IT companies, consulting firm Planman HR Director & Managing Partner Deepak Kaistha told PTI.
The average attrition is currently around 30-40 per cent across all the sectors, he added.
 Attrition is back in double digits but at the same time, individuals and companies are both very selective while opting for each other. They are keeping in mind the recent slowdown, where the stability of a firm and Performance of an individual was of much significance to come out of the cyclone, executive search firm GlobalHunt director Sunil Goel said. Another HR consultancy, Mercer, believes that attrition worries are back to haunt companies as employees with key talent are looking at new opportunities amid the reviving job market.
  As a result of the recent job market revival, we anticipate an increase in employee turnover in the IT and financial services industries. As such, it remains to be seen if their conservative salary growth projections are sustainable in the near future, Mercers Information Product Solution India business leader Gangapriya Chakraverti said.
  Now, the market has started showing a lot of positive signs. People are looking forward to explore exciting opportunities, including a substantial increase in compensation, Goel said.
  Another HR services provider, Ma Foi Randstad, said in its latest quarterly review that the IT & ITes sector is expected to grow at around 15.5 per cent in 2010, on the back of growing investor confidence and favourable initiatives taken by the government.
  It is expected that the IT & ITes sector will register an increase in employment to the tune of 41,200 in the first six months of this year, Ma Foi Randstad CEO (India & Sri Lanka) K Pandia Rajan said.
 
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