Wage costs in IT firms have touched a 5-year high despite a drop in attrition and sluggish job markets. What is leading to this spike? Kamal Karanth, Co-founder of Xpheno that specializes in tech hiring chalks out how IT firms are rationalizing employee costs.

IT Firms Battle Wage Costs

In the last three years, the relationship between an employer and an employee can at best be described as - mercurial. In the first two years of the pandemic, we tip-toed into each other’s private spaces and soon the office and the home shared the same room. Healthcare benefits, leave and employee engagement policies were overhauled as Covid raged. But once markets opened up, the equations became testy. Employees swiftly changed their loyalties and companies outmanoeuvred one another to retain talent. Then again, the tide turned as global markets and war put brakes on all future plans. Now, the employer had the upper hand and what followed was a series of layoffs, freezing of perks and hushed anxiety enveloping the office corridors. Over the next few episodes of The Working Life, We will talk to HR heads, compensation specialists, diversity experts and employees about how the relationship with our workplaces has changed. And will try to find out how companies are redrawing every strategy to retain their best talent and attract the new crop of young workforce who have a whole different expectation from their jobs. 

Tune in with Devina Sengupta to The Working Life to know more.

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In the last three years, the relationship between an employer and an employee can at best be described as - mercurial. In the first two years of the pandemic, we tip-toed into each other’s private spaces and soon the office and the home shared the same room. Healthcare benefits, leave and employee engagement policies were overhauled as Covid raged. But once markets opened up, the equations became testy. Employees swiftly changed their loyalties and companies outmanoeuvred one another to retain talent. Then again, the tide turned as global markets and war put brakes on all future plans. Now, the employer had the upper hand and what followed was a series of layoffs, freezing of perks and hushed anxiety enveloping the office corridors. Over the next few episodes of The Working Life, We will talk to HR heads, compensation specialists, diversity experts and employees about how the relationship with our workplaces has changed. And will try to find out how companies are redrawing every strategy to retain their best talent and attract the new crop of young workforce who have a whole different expectation from their jobs. Tune in with Devina Sengupta to The Working Life to know more.

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IT Firms Battle Wage Costs

IT Firms Battle Wage Costs

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