Hyderabad: In the tech world where retrenchments have become common, Hyderabad is turning out to be a favourable destination for retaining IT talent in the country. The number of techies losing their jobs in Hyderabad are less than Bengaluru as per a report by an outbound hiring company, Belong.
According to a comparison between Hyderabad and Bengaluru, the research found that companies in Hyderabad see 40-60 per cent less employee attrition as compared to the IT capital of India. Hyderabad has lower attrition rate compared to the national average too.
The report analysed the last two years’ data of some of the biggest tech companies like IBM, Tech Mahindra, TCS, Wells Fargo, Infosys, Amazon and Microsoft.
Experts opine that Hyderabad's access to a rich talent pool, affordable and reliable infrastructure, and a pro-business government outlook collectively make it an irresistible investment destination for both tech start-ups and giants alike.
“If people comprise 60-65 per cent of a tech company’s operation cost, attracting best engineers to do the job becomes as important as the ability to retain them for longer tenures. And Hyderabad seems to be scoring well on this front by having lower attrition compared to other Indian cities,” says Phani Pattamatta, Executive Director of TiE Hyderabad.
Rishabh Kaul, co-founder of Belong said, “For many years now we have heard that Hyderabad is India's next Silicon Valley. But now for the first time we have data to prove that it is a more viable option for tech companies because of higher retention and comparatively lower salaries owing to a lower cost of living.”
