Winning the Talent War

The talent situation in the IT & business services industry is dire!

• 7 out of 10 employees will leave their current IT/business services employer if the right opportunity presents itself. Nearly 50% are actively looking out
• The employee NPS (NPS = Promoters – Detractors) score for the IT/business services industry is NEGATIVE!
• Only 22% are “very loyal” to their employers. The youngest employees are least loyal

The 3Cs behind the Talent Crunch: Career, Culture, and Company values

• Lack of career growth opportunities, bureaucratic company cultures, difficulties in finding the right work-lef balance, and disillusionment with company purpose and vision are the attributes that employees DO NOT LIKE about their current employers
• Employees are relatively more satisfied with the colleagues and team they work with, senior leadership and training & skills development programs offered to them
• The pandemic has exacerbated these challenges as a majority are more inclined to change jobs after the pandemic. Over 70% employees want a hybrid work environment today. A majority will leave if employers mandate in-office work environment
• However, nearly 50% employees are adopting a “wait-and-watch” approach given the looming threat of recession

It’s time to make the IT/business services sexy again

• The good news is that nearly 90% of employees are still passionate about the IT/Business services industry. However, a majority feel that the industry needs a facelift
• Only 11% consider their current employer as the “dream employer.” Start-ups, starting up, and SaaS are hot
• Nearly 90% of employees would like to feel more challenged in their current roles
• Service providers need to remember that Employee Experience (EX) = Customer Experience (EX) to make this industry “sexy” again for attracting top talent

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