The telecom sector experienced its highest attrition rate in six quarters during the April-June quarter, coming in at 8.87% as opposed to 7.88% in the January-March period, according to a research by hiring company TeamLease. This was mostly caused by a mix of people quitting their jobs as a result of unfavourable reviews and the growing number of openings in the market.
According to an ET Telecom report, the current quarter of July to September is likely to see a 6000 employment gain in the telecom industry as operators begin to work on their 5G service roll-out plans and put more of a focus on internet penetration outside of metro areas.
Change in Attrition Rate or Intent to Hire
According to the TeamLease research, the industry came in fifth place with an intent to hire measure of 84% for the fiscal second quarter that began on July 1. Hiring intentions refer to the hiring plans a business or industry has for a specific time frame. On this criterion, the information technology industry came out on top (98%), followed by educational services (91%), while the telecom sector came in second. On the list of service sector companies for the same metric, telecom was likewise rated third.
According to TeamLease Services' chief business officer, Mayur, telecoms' broadband departments have been the source of the majority of recent job posts. "Three job profiles or positions are in demand while offering broadband services: sales, installation, and wiring. This quarter, the demand for these positions has grown."
Additionally, he noted that after a subdued first fiscal quarter, the general attitude about hiring is now becoming favourable. This is due to both the 5G deployment and broadband expansion. In this quarter, private investments amounting to Rs 394 crore are also anticipated, according to the report, and they would contribute to the creation of more than 250 specialised employment. Profiles like digital engineers will be needed to spearhead the broadband expansion campaign.
The top five industries for attrition rates were IT (22.03%), educational services (13.11%), healthcare and pharmaceuticals (12.25), e-commerce and related start-ups (11.04%), and knowledge process outsourcing (10.52%) Telecom came in at number six.