- Attrition rate in India fell to 17.4% in 2024 from 18.1% in 2023.
- IT, manufacturing, and life sciences saw fewer people leaving jobs.
- Workers favor steady jobs over big raises amid global uncertainty.
A new Deloitte India survey says fewer people quit their jobs in 2024, with the average attrition rate dropping to 17.4% from 18.1% in 2023. With the world economy shaky, both companies and workers are playing it safe. The report shows folks are sticking around for job security rather than chasing new gigs, especially since pay raises are shrinking. In 2025, salary bumps are expected to dip to 8.8% from 9% in 2024— the smallest in a decade outside the pandemic years.
The drop happened across big sectors. In IT, the quitting rate fell to 15.1% from 19.3%, and in tech services (ITeS), it went down to 10.8% from 18.7%. Life sciences saw 13.3% in 2024, down from 18%, and manufacturing hit 10.6%, lower than 12.1% in 2023. Financial services and other areas also had slight dips. But the consumer sector bucked the trend, with more people leaving—up to 18.4% from 17.4%. Deloitte says job stability and chances to grow inside a company matter more now than bigger paychecks.
Prakhar Tripathi from Deloitte India explained they talked to HR bosses from four big companies—a mix of banking, tech, consumer goods, and a varied firm—to check what’s up with jobs. “People want stability because businesses are hitting rough patches,” he said. The survey, called the Deloitte India Talent Outlook 2025, checked over 500 companies in seven sectors. It found 75% of them plan to keep pay raises the same or cut them next year, showing a tight grip on money as global and local challenges pile up.
