A study on The Great Resignation at TCS

Human Resource Management

The Great Resignation is a new term that came up last year to capture the rising trend of employees leaving jobs which led to a spike in attrition rate in IT companies. Attrition refers to the downsizing of employees within an organization due to employees’ retirement, resignation, or death. High attrition is one of the critical challenges faced by companies and managing it is becoming increasingly important for HR, as it leads to increased staffing costs, which are one of the largest expenses regularly charged to the company. There might be various reasons for rise in attrition like poor compensation, no challenging job, inadequate training, lack of role clarity, lengthy bench period, offers from competitors, lack of motivation, lack of recognition, lack of growth and career opportunities, unfair treatment, excessive stress due to work pressure, gender discrimination, poor employee relations, improper time schedule, poor working conditions, location, family and personal problems, etc. This study is focused on the rising attrition trend in Tata Consultancy Services (TCS). The study aims to identify the major reasons which resulted in increasing attrition rate and proposes recommendations to control the attrition. It studies the employee retention strategies adopted by TCS due to which it has the lowest attrition rate among its competitors. The study uses qualitative method under descriptive research design and secondary data is collected from secondary sources including research papers, websites, employee reviews, journals, articles and newspapers, etc. Findings of the study suggests that strategies like good salary, positive working environment, employee engagement, work-life balance and many more should be used to control the attrition rate.

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