This is due to the increased demand for advanced tools and technologies relating to Blockchain, IoT, Artificial Intelligence & Machine Learning and Robotic Process Automation amongst others. The development has ensured higher focus on re-skilling employees and developing a talent pool which can deliver solutions in such niche technologies.
This year, employees in Best IT & IT-BPM Workplaces spent an average of 123 hours on training as compared to 93 hours last year. However, investments towards training remain almost the same, signifying that the organizations are moving from traditional classroom-based modes to E-learning and MOOC’s.
The average voluntary attrition for the IT & IT-BPM industry has risen from 19 per cent in 2018 to 21 per cent in 2019. With an increased emphasis on training employees, it is imperative for organizations to retain their skilled talent now more than ever. The best workplaces are still ahead of the game as they enjoy the advantage of a lower reported attrition of 19 per cent as against 23 per cent in the rest. It is how ever clear that the war for talent is heating up.
The Great Place to Work® survey provides insights into what encourages employees to stay with an organization for a long time. Our research reveals that at any point in time, an organization has employees in one of the four zones of retention:
High Trust Retention: Employees have an intent to stay for a long time and have a positive perception of Workplace culture
Prisoners at Work: Employees are willing to work with their organization for a long time yet are disconnected from the culture
Flight Risk: Employees are disconnected from the culture and do not intend to stay for a long time
Tourists: Employees like the culture but may not be fully invested.
This story is from the 23 November 2019 edition of Businessworld.
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This story is from the 23 November 2019 edition of Businessworld.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
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