Employees’ unions are not needed in information technology industry where work ethic is good and the staff are well-paid with techies even finding opportunities outside the company they work for, says a senior industry figure.
Whenever there is a downturn, there is always noise about unions coming into play in the IT industry but it never sustained, ex-Chief Financial Officer of Infosys Ltd, V Balakrishnan told PTI.
“Work ethic is very good and salaries are high. Even today the attrition rate in the IT industry is double digit.
It (talk of employees’ unions) always fizzles out after some point of time. It never sustained,” he told PTI.
“But I think even if there is a union, I don’t think it will impact the industry much because IT industry is one of the best paymasters in the country and second, the people find opportunities outside”, he said.
Following reports of layoffs and fears about further retrenchment in the slow-down hit IT industry, there had been some talk in recent times about forming a union.
“IT industry is not bad, IT industry people are well taken care of, well-paid, and they find opportunities. Even one of the bad years, this year, where growth rate has come down, the attrition is still double digit.
“So, I don’t find a need for union in this industry.
“Even if there is a union, I don’t think it will impact the industry much because people are well taken care of in this industry,” said the former Board member of Infosys.