the Indian IT services industry is ramping up its supply-side by hitting the campus for hiring. A look at the top three large hirers from the IT sector shows how attrition could well impact their speed to double-digit growth. Going by the commentary the top three IT services will hire over 75,000 campus freshers for FY22.
Bengaluru-based Infosys has guided double-digit revenue growth for FY22, saw its attrition touch its highest at 15.2 percent.
Attrition in the preceding quarter was at 10 percent. Add to this the company’s utilization was also at a high of 82.2 percent. Similarly, at Wipro, too attrition for the fourth quarter peaked at 12.1 percent, one percentage point higher from the preceding quarter and its gross utilization touched 76.7 percent. The only company that has managed to keep its attrition low is Tata Consultancy Services.
The top three IT services firms — TCS, Infosys, and Wipro — reiterated that they will make all attempts to retain talent.
And to do so they have not only announced salary hikes but also targeted incentives for people with the right skills.
Take the case of Wipro, which has not only announced salary hikes and promotion, but Saurabh Govil, CHRO, Wipro said, “We are also giving out skill-based bonus for the people with right skills, and it is already underway.”
It is not just the Indian players. Accenture, which has over 200,000 of its employees based in India, is also focusing on retaining talent in the digital area.
‘As a talent-led organisation, Accenture in India is focused on inspiring and retaining its best talent, maintaining its strong commitment to helping them realise their career aspirations, and hiring for in-demand skills in areas such as digital, cloud, security, data and AI as well as platform and other core skills,’ said a statement from Accenture India spokesperson.
‘We are also hiring experts across various industries including financial services, consumer goods and services and life sciences, and functional experts in the areas of finance and accounting, marketing, procurement, and supply chain,’ the Accenture India spokesperson added.
Accenture had recently announced a one-time bonus equaling one week of base pay to all its employees.
Cognizant, earlier this year set up $30 million corpus, called as retention fund for top performers and digitally skilled employees.
The firm had reported an annualised attrition rate of 19 per cent for the December quarter, the highest in the industry. (Source: Rediff.com)
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