The attrition rate of analytics professionals in India almost halved amid the pandemic, AIMResearch found.
‘Analytics India Attrition Study’ is an annual report published by Analytics India Magazine cutting across geographies, company sizes, experience, industries, and cities.
The data, collated from various online sources like LinkedIn and online job portals and group discussions with major analytics firms, found the attrition rate of analytics professionals in India dropped from 30.7% in 2019 to 16.0% in 2020. The report will help companies understand India’s attrition patterns, especially from the lens of the pandemic.
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Though India’s attrition rate of 16% in 2020 is a significant improvement year on year, the rate is slightly higher than the world average of 14.1%. The report attributed the drop in attrition rates, both voluntary and involuntary, to the pandemic as analytics professionals took fewer risks to find new jobs. Voluntary attrition refers to when analytics professionals leave the company to join another firm, and involuntary attrition refers to companies letting go of analytics professionals due to downsizing or restructuring.
The report highlighted a complete reversal in trends concerning the correlation of analytics professionals’ attrition rates and company size. In 2019, the attrition rate was directly proportional to the size of the company. In 2020, the proportion inverted.
The attrition rate for companies with less than 50 employees dropped from 28% in 2019 to 24% in 2020. The attrition rate for companies with more than 10,000 staff reduced from 33.5% in 2019 to 13.6% in 2020.
According to the report, smaller companies had to let go of comparatively more employees due to budget constraints.
The attrition rate dropped for employees across experience brackets, albeit unevenly. The trend of attrition rates remained constant – the higher the years of experience, the lower the attrition rate.