Hi Mitali,
If you are referring to industries like IT, Telecom, Air Lines, etc then it is true, this is because rapid development in these segment. You may call it a demand supply gap. This may last for several more years. See, every industry is working under pressure to bag as many order as they can manage it, more over most companies are engaged in off shore business and earning in foreign currency, so they can sustain the pressure of payment of higher salary in comparison to loosing some business for the want of man power. Hence people have realized it and have formed the tendency to keep on changing the job and sailing on the upper side of the remuneration wave.
But same is not the case with all the industries like Fertilizer, Pharmaceutical, Textile, education etc. where in retention issue is not as severe as it is in industries stated in previous paragraph.
But in spite of the fact of high attrition, the companies are still managing their project shows that things have not gone beyond the control. :=)
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Pankaj Trivedi,
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