Turnover in the software services industry runs at about 15 percent a year on average, and can exceed 30 percent at some companies, according to various sources.
Relative to their counterparts in the United States and other developed nations, workers at Indian companies are both plentiful and inexpensive to employ. This cheap labor, however, has led to explosive growth and, in turn, to unprecedented competition for qualified employees. Double-digit raises are the norm.
“The total number of engineering students in all four years of college is over a million at any time,” […] “So you see, this is our problem, and this is our opportunity.”
“The real issue here is the growth in the salary levels. The salaries in India are still growing at 18 to 20 percent annum,” […] “The stickiness of people to companies is very low. A little bit more stabilization is needed.”
The above article reminded me of this entry.