Will startups or traditional IT firms win the war for tech talent?

The experience is even more rewarding for techies. According to Aon, the highest salary increases will go to entrepreneurial firms. According to an Aon survey of nearly 1,300 companies, the average pay for startups and hi-tech companies will increase by 16.9 percent in 2022, compared to 9.4 percent for India Inc. According to Aon’s research, salary increases for technology workers will outpace the national average in 2021.

All of this adds up to only one thing. Engineers and technologists rule the job market! According to Aon, there is a 24.4 percent attrition rate in high-tech. Take a look at yet another fascinating Aon statistic. 

Take a look at yet another fascinating Aon statistic. In 2021, Indian corporations will promote approximately 11.5 percent of their employees on average, while technology firms will promote approximately 17.5 percent of their employees during the same time period.

By 2021, Indian startups will have raised approximately $20 billion. In addition, they do not rely on employee stock options to attract and retain top talent. Automobiles, cutting-edge technology, and pet insurance are among the additional benefits. For example, BharatPe founder Ashneer Grover recently announced on LinkedIn that 100 engineers would receive BMW superbikes and the latest iPads. The announcement sent shockwaves through the internet.

As a result of such moves, traditional IT firms have been forced to up their game. HCL Tech is an excellent example. Mercedes-Benzes were discussed as a possible reward for top performers.

Who will triumph in the end?

“The odds are stacked against startups,” says Aon partner Roopank Chaudhury. He claims that startups are more aggressive in this regard than traditional IT firms. He believes that mid-sized IT firms will be able to match the perks offered by startups.

Releated:To win the war for the best and brightest in information technology

Financial services is showing Silicon Valley how to beat them at their own game through engagement, purpose, and innovation.

If Silicon Valley is the epicentre of technological innovation, Wall Street and Main Street are close behind. Finance and manufacturing, for example, require top-tier technical talent just as much as tech startups. Finding the right talent, attracting them to your organisation, and keeping them over time, according to Barclaycard CIO Shelton Shugar, is one of the most difficult challenges facing financial services CIOs today. A similar case can be made for industries outside of the San Francisco Bay Area.


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