Indian IT firms invest Rs 1.97 crore on average every year to train employees

Indian IT & IT-BPM services sector spends an average of Rs 1.97 crore in a company to train employees. India’s Best Workplaces in IT & IT-BPM 2023 report released on November 30 said that around 68% companies are closely involved in the development of employees across levels.

Training Employees

This comes when the IT sector is investing heavily in skilling employees in artificial intelligence (AI), generative AI and cloud computing skills. The report also mentions that the companies have started sharing quarterly updates on employees whose training has been completed, targets of workforces to be trained by the end of the financial year and more.

Best Companies to work

The report has also named the top 25 workplaces in IT & IT-BPM 2023 report in which Accenture and Wipro are named. Other companies in the Top 25 include VOIS, Akamai Technologies, Atlassian, Blue Yonder, Cadence Design Systems, CGI Information Systems and Management, Consultants, Cisco Systems, Encora Innovation Labs and H & R Block.

The companies are picked based on how they prioritised work culture. This became increasingly important to improve the productivity and employee retention. The report pointed out that amid the slowdown in hiring and the layoffs undertaken by some companies along with cut in salary has led to a decline in employee morale and satisfaction.

The prominent theme in the 2023 report that highlighted several aspects of employee well-being includes burnout. As per the data the burnout risk has affected 27% of employees in large companies, 3% higher than their mid-sized counterparts.

“Female senior managers in particular experience a 5 percent higher burnout rate than male counterparts. The trend draws the importance of maintaining a delicate balance between growth and employee well-being,” the report said.