The offshore development centre of information technology major Cadence Design Systems has dislodged Infosys Technologies from its top position to emerge as the best employer of the Indian IT industry in 2003, as per a Data Quest-IDC survey.
Tata Consultancy Services was ranked number two in the list, while Hewlett Packard and Infosys took the third and fourth place.
IBM was slotted at number five, to complete the list of top five best IT employers in India.
"Even as Infosys goes down the best employer rankings for the first time, it still remains the dream company for IT employees in the country," the survey said.
Most effects of the recession on the human resource environment in the country seems to have receded, and fewer people complain of a cut in salary increments and perks, but morale is not looking up yet, it noted.
The survey has been segmented into sections like 'Preferred Employer', 'Dream Company' and 'Effects of Recession'.
As the 'Dream Company', the IDC survey said, Infosys, IBM, Microsoft, TCS and HP were the most desired.
Microsoft moved up in the 'Dream Company' rankings from number nine last year to number three this year, while Sun Microssystems moved out of the top five list.
In the top five list of 'Preferred Employer', Cadence scored over IBM and other new entrants were TCS and Wipro, while SAP and Sun moved out.
"HP is also one of the preferred employers at number three," the survey said.
Tracing the key trends, IDC said attrition rates decreased from an average 12.3 in 2002 to 9.5 in 2003. At the same time annual retention rates marginally improved from 88 per cent to 89 per cent.
TCS tops DQ top 20 ranking
Tata Consultancy Services has topped the DataQuest ranking of largest Indian IT companies in terms of revenues. The company registered revenues of Rs 4,914 crore (Rs 49.14 billion) during 2002-03.
"TCS, the first Indian IT company to breach the $1 billion mark, has bagged the number one slot in DQ top 20 rankings for 2002-03," a DQ statement said.
Others in the top rankings were Wipro (Rs 4,097 crore), Infosys (Rs 3,623 crore), Hewlett Packard (Rs 3,241 crore) and IBM India (Rs 2,071 crore).
Top 20 companies account for 49 per cent of total Indian IT industry, it said.
There were three entrants in the DQ top 20 club -- Microsoft, CMC and Mahindra BT -- replacing Celetron and Silverline.
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