How does it impact employees & companies?
If a company offers a techie, he accepts the offer, puts in his papers. Then for the next 3 months he keeps looking. He finds a better offer, tries to renegotiate. The process continues.
After 3 months the person who has been offered says he cant join just a few days before joining. The company takes another 3 months to get someone to join. Assuming everything works this time
The offer drop ratio is very high resulting in a loss of business. Yeah, loss of revenues for 6 months. Imagine the total loss of revenue of so many tech firms running into millions of dollars.
Interestingly the employee is benefitting.
He gets almost a paid vacation for 3 months, is able to get amazing salary hikes. I recently came across a techie who had 3 offers, last offer was 50% hike & was looking for another for 75%
This will ultimately increase the employee costs for the industry & will put more pressure on the IT Industry which is already on a weak footing.
In an attempt to protect themselves tech companies are shooting themselves on their own feet.
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