IT biz staff attrition drops to pre-pandemic times
View(s):By Duruthu Edirimuni Chandrasekera
Staff attrition levels in the IT businesses have dropped down to pre pandemic levels as per latest industry data, industry experts said.
While the country’s economy and political stability have somewhat helped, the oversupply of tech talent in Europe and other Western countries is impacting the hiring, Hasith Yaggahavita – CEO of 99x Technology, a global product engineering company that operates in Norway, Malaysia, Brazil, and Sri Lanka told the Business Times on the sidelines of a company event on Thursday in Colombo.
He said that major layoffs in companies in Europe have increased the availability of tech talent and now there is less demand for such talent from countries like Sri Lanka. “Also, the hype about migration where the other side is green has been debunked more or less for those migrating,” he said. 99 X has 400 staff in Sri Lanka and 200 more outside the country.
This year, Mr. Yaggahavita said that the company is looking to make one to two major investments, in markets where they want to expand into. “We will be looking to acquire entities and grow inorganically.” He also added that the company intends to strike many sales partnerships with entities who can take 99 X to markets where it is not operating in. Emphasising that the company will continue to attract and retain the best talent, he said 99 X intends to be a place where great work happens.
The event brought together 99x’s industry leaders from Norway, Portugal, Brazil, and Sri Lanka to discuss 99x’s growth as a forward-thinking global technology leader. The attendees included Odd-Sverre Ostlie – Group CEO of 99x Group Norway, Trygve Moe – Group CFO of 99x Group Norway, Carlos Coutinho Silva – CEO of Cleverti Portugal, Thiers Santos – CEO of Nextly Brazil, Eiliv Mæhle Liljevik – CEO of Seeds Consulting Norway.
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