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This is probably the best time to be a software professional in India
While the pandemic has increased demand for talent in the IT sector, resulting in higher attrition rates and multiple salary hikes, increased offshoring and reduction in discretionary spends are likely to offset headwinds in the short term.
Synopsis
Tata Consultancy Services (TCS), Infosys and Wipro have witnessed a surge in employee costs on account of multiple salary hikes to retain talent. Their attrition rates too have increased, as an indirect fallout.
Bengaluru: Indian IT services providers—Tata Consultancy Services (TCS), Infosys and Wipro—have seen wage costs rise consistently as demand for skilled talent shot up on account of increased investments by global companies in digitising their operations.
IT sector analysts said while the Covid-19 pandemic has increased demand for IT services companies and led to higher attrition and margin pressures due to wage hikes, metrics such as increased
